Coral8 and Lab49 Partner to Provide Algorithmic Trading Framework on the Microsoft Software Platform
Joint Solution Offers Rapid Implementation of Powerful, Highly Visual Algorithmic Trading Applications
MOUNTAIN VIEW, Calif. and NEW YORK, June 19, 2007 -- Coral8, Inc., a leading provider of Complex Event Processing (CEP) software, and Lab49, a consulting firm that specializes in building advanced applications for global financial institutions, today announced a partnership and joint solution that will dramatically simplify the implementation of algorithmic trading applications. The Coral8-Lab49 algorithmic trading framework brings together the powerful Coral8 CEP technology and Lab49 capital markets industry expertise and best practices on top of the Microsoft software platform for rapidly deployable solutions.
As algorithmic trading infrastructure evolves, it is critically important that these solutions incorporate a service-oriented approach and do not become the next set of application silos. Additionally, as the trading infrastructure expands and reaches out to end-user traders and analysts, user interfaces must evolve to present information, not data, in an enriched and visual manner.
The Coral8-Lab49 algorithmic trading framework overcomes these key obstacles through the use of CEP technology, service-oriented techniques, and a nextgeneration visualization toolkit, Microsoft Windows® Presentation Foundation (WPF). The implementation of data enrichment and “trading signals” within a centrally managed CEP “service” dramatically simplifies the creation, addition and change of algorithms, provides a single “source of the truth” for the algorithms, and eases the development and interfaces of the trading applications. WPF provides a next-generation development platform for graphical user interfaces that incorporate two and three dimensional graphics and animations, real-time data feeds, and rich user interaction.
"Lab49 brings extensive capital markets industry and technical expertise for trading applications and infrastructure,” said Terry Cunningham, CEO of Coral8, Inc. “We are pleased to work with Lab49 because of their expertise and dedication to the same principles as Coral8 – fast, easy, low-cost implementation of innovative new applications.”
The best way to harness powerful new technology such as CEP is through application frameworks that incorporate industry best practices,” said Daniel Chait, co-founder and managing director, Lab49. “The Coral8 Engine combines power, ease of use, and flexibility, enabling us to leverage our industry knowledge to build robust and extensible trading applications.”
The joint algorithmic trading framework is being demonstrated by the two companies at the SIFMA Technology Management Conference in New York, from June 19 to 21, 2007. The demonstration, which shows the power, rapid implementation and stunning visualization of the solution, can be seen in the Coral8 booth, #1618.
The Coral8-Lab49 algorithmic trading framework is integrated with key Microsoft and interface technologies, including the Microsoft .NET Framework and Windows® Presentation Foundation. This integration further simplifies the implementation of the trading applications, and provides critical platform services. The Coral8-Lab49 solution is being offered as part of Microsoft’s go-to-market capital markets solutions initiative.
"The Microsoft capital markets solutions represent the unification of powerful new technologies that enable innovative new applications inside a framework that is easy to implement,” said Stevan Vidich, U.S. capital markets technology strategist, Microsoft, Corp. “The algorithmic trading framework offered by Coral8 and Lab49 on the Microsoft platform unites best-in-class technologies with deep industry knowledge in a manner that exemplifies Microsoft’s solution goals.”
About Lab49
Lab49, founded in 2002, serves leading global investments banks, hedge funds and mortgage institutions and has completed custom software engagements in equities, fixed income, foreign exchange, portfolio management, and real-time risk information delivery systems. Lab49 is the financial services division of Corpus. Corpus, Inc. is a global information technology solutions provider. Corpus has numerous Fortune 50 clients in the Media & Entertainment, Telecommunications, and Banking & Financial Services verticals. Visit http://www.lab49.com and http://blog.lab49.com.
About Coral8
Based in Mountain View, Calif., Coral8, Inc. is a leading provider of software for Complex Event Processing (CEP). Bringing together high-performance, an innovative SQL-based programming language and enterprise-class features, the Coral8 Engine is the fastest, lowest cost way to build and deploy powerful new CEP applications. For more information, visit www.coral8.com or call (650) 210-3810.
Media Contact
For Coral8:
Alissa Vasilevskis or RJ Bee
Schwartz Communications
(415) 512-0770
coral8@schwartz-pr.com
For Lab49:
Tinne Teugels
Metia
(917) 320-6458
tinne@metia.com