1. A method for performing an action upon occurrence of a monitored event related to a set of data elements, in a distributed environment comprising a centralized event engine executing on a first computer and a plurality of remote event engines executing on one or more computers remote from the first computer, the method comprising: supplying a syntax for specifying rules, the syntax enabling specification of one or more components of a rule of a plurality of rules and enabling specification of the one or more components of the rule to be evaluated by a remote event engine of the plurality of remote event engines instead of the centralized event engine; providing the rule, the rule comprising an event identification component specifying an event to be monitored and an action component specifying an action to be performed upon occurrence of the event; determining, from the rule, if the event identification component is to be evaluated by a remote event engine from the plurality of remote event engines and if the action component is to be evaluated by the remote event engine from the plurality of remote event engines; evaluating the event identification component and the action component of the rule, wherein, for a first component determined to be evaluated by the remote event engine, the first component is evaluated by the remote event engine at a computer remote from the first computer, wherein the evaluating comprises monitoring occurrence of the event specified by the event identification component, and performing the action specified by the action component upon occurrence of the event; and for each remote event engine used for evaluating the one or more components of the rule, communicating results of the evaluation from the remote event engine to the centralized event engine.