(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:28012008

LONDON, UK -- Turquoise, the multi-lateral trading facility (MTF)
established by nine leading European investment banks today announced
that it is partnering with Progress Software and Detica to deliver a
real-time Market Surveillance System. The combination of the Progress
Apama Complex Event Processing (CEP) Platform and Detica's market
surveillance and trading expertise will deliver a real-time and
post-trade market surveillance system that will capture breaches of
trading rules, root out market irregularities and develop enhanced
trading execution analytics.

Commenting on today's announcement, Eli Lederman, Chief Executive of
Turquoise said: "Market surveillance is a vital requirement for any
stock exchange. By choosing the Apama platform and deploying Detica's
expertise, we also gain a very flexible system. This will allow us to
add value to the market data we collect and offer further client
services such as detailed analysis of transactions and a better
understanding of price improvement and performance."

Dr John Bates, Founder and General Manager of the Apama division of
Progress Software, adds: "The selection of the Apama platform by
Turquoise further affirms Apama's market leadership in delivering
mission critical CEP-powered business applications. The real-time
detection of complex patterns in market activity will discourage any
potential abusers, maintain an orderly market, and promote liquidity."

"Our brief is very clear: to design, build and deploy a robust,
flexible market surveillance platform within very tight timelines, to
Turquoise's satisfaction." says Simon Asplen-Taylor, Head of Market and
Regulatory Services at Detica. "Our team has the right mix of advanced
technology skills and deep business domain knowledge to make this
happen. We are proud to be part of an exciting venture that will ensure
a fair and orderly market and justify the trust that Turquoise has
invested in the Detica-Progress Apama partnership."

About Turquoise

Turquoise is an entrepreneurial, independent company that will provide
an innovative, pan-European and open trading platform treating all
participants equally. Backed by the largest investment banks in Europe,
Turquoise will have a critical mass of natural liquidity from day one:
a venue that every trader will need to access.

Turquoise's dark pool and lit pool will be able to interact with each
other to help the market trade more efficiently at improved prices.
This unique, integrated order pool, combining and matching dark and
transparent orders, will enable users to obtain price improvement for
small orders and trade large orders efficiently while minimising
information leakage. The clearing & settlement function will be
delivered by EuroCCP, a subsidiary of DTCC, a partnership that will
help to drive down the total cost of trading.

About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) provides application
infrastructure software for the development, deployment, integration
and management of business applications.The Apama platform is powered
bythe world's most advanced and widely used complex event processing
(CEP) technology, which allows traders, regulators and exchanges to
instantly and continuously analyze, evaluate and respond to market
events in real-time. Our goal is to maximize the benefits of
information technology while minimizing its complexity and total cost
of ownership.

Progress and Apama are trademarks or registered trademarks of Progress
Software Corporation or one of its affiliates or subsidiaries in the
U.S.and other countries. Any other trademarks or service marks
contained herein are the property of their respective owners.

About Detica

Detica is a specialist business and technology consultancy focused on
turning complex information into relevant and actionable intelligence.
It specialises in the information-intensive areas of security, fraud
containment, risk management, regulatory compliance and customer
management. Detica delivers a broad range of services including
strategy formulation, people and process change, and the delivery and
support of technology solutions.

From its inception in the national security arena to the Detica of
today, with offices in the UK, continental Europe and the United
States, the company offers in-depth experience and domain expertise in
the government, financial services and telecoms marketplaces as well as
global financial markets and Homeland Security in the US.

Detica's commercial clients include RBS, Barclays, Reuters, UBS, Sony,
Microsoft, Sky, BT and Vodafone. Government clients include Home
Office, HM Revenue & Customs, Department for Transport and Ministry of
Defence.

Detica and Detica Limited product names are registered trademarks or
trademarks of Detica Limited in the UKand in other countries. Other
brand and product names are registered trademarks or trademarks of
their respective companies. Detica Limited is registered in England
under number 1337451 and has its registered office at Surrey Research
Park, Guildford, England, GU2 7YP.

CONTACT: Rachel Harnden, Press Contact, Progress Software
Tel: +44 (0) 1753 216 387
Tel: +1 781 280 4000.
e-mail: rharnden@progress.com
WWW: http://www.progress.com
Renske Law / Tania Vie Riba, Cre8 Results Limited
Tel: +44 (0) 207 734 9199
e-mail: apama@cre8results.com
Turquoise
WWW: http://www.tradeturquoise.com
Detica
WWW: http://www.detica.com

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