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John Bates
Chief Technology Officer
Progress Software Corp.
Last year: 38

In 1999, University of Cambridge computer scientist John Bates started Apama, a U.K. software company that pioneered ways of applying complex-event processing to algorithmic trading. Submillisecond data analysis and decision making required a high-performance processing breakthrough, and CEP answered the call. Bates, now 42, sold his venture in 2005 to Bedford, Massachusetts–based Progress Software Corp., becoming CTO of that $534 million-in-revenue company, and Apama's momentum never flagged. "Countries like China and Brazil are starting to accelerate their adoption of algo trading," says Bates, citing two hot spots. Shenzhen, China–based CITIC Securities Co. recently bought Apama for its algo strategies. CEP demand is also spreading in foreign exchange and in market surveillance and compliance. After the May 2010 "flash crash," Bates joined the U.S. Commodity Futures Trading Commission's technology advisory committee and promptly blogged, "The speed at which algorithms can pump quotes into a destination is daunting, so the policemen will also need to work at ultra high velocity."

Video: John Bates
Chief Technology Officer,
Progress Software Corp.