
press
release
ensemble announces GSTPA-supportive
STP solution from SunGard Business Integration
Issued by: Tin Can
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[Johannesburg, 22 September 2000] -
ensemble, a provider of business and technology solutions to the
financial markets industry, and distributor of SunGard Business
Integration's MINT Knowledge products, has announced the launch of a
new message adapter from the US-based vendor.
According to Richard Shaw, director
of ensemble, the new adapter is being developed in support of the
Global Straight Through Processing Association's (GSTPA) initiative to
create an industry-owned utility for cross-border matching. "ensemble
will distribute the Transaction Flow Manager (TFM) adapter and provide
support for it locally," says Shaw.
"The message adapter will enable
connectivity to the GSTPA's TFM by pilot participants," he explains.
"ensemble, together with SunGard Business Integration, supports a broad
range of financial protocols for connectivity to industry standard
networks, such as SWIFT and FIX."
According to Shaw, the primary
objective of the GSTPA initiative is to accelerate the flow of
cross-border trade information and to improve the accuracy,
completeness and timeliness of such information for the benefit of
investment managers, broker/dealers and global custodians. "The core of
the GSTPA initiative is TFM, which will track, number, timestamp and
route cross-border trade information and will perform a number of
matching, enrichment and other value-added functions for the benefit of
participants," he adds.
SunGard Business Integration's MINT
Knowledge Broker and TFM Adapter will utilise advanced data modelling,
transformation and connectivity tools to enable full TFM connectivity.
"As the interface between a participating financial institution's
internal applications and the external TFM, the MINT Knowledge Broker
will allow participants to implement the GSTPA solution," explains Shaw.
"The current cross-border trade
processing environment is characterised by manual procedures, multiple
service providers, incompatible databases, lack of standardisation,
relatively high error rates, excessive costs and a high rate of
expensive failed trades," comments Hagay Shefi, president and COO of
SunGard Business Integration. "The MINT Knowledge solutions have been
designed to eliminate these trade processing bottlenecks by employing a
hub topology and providing one of the largest portfolios of financial
protocols. We are committed to enabling the GSTPA solution for SunGard
customers."
SunGard Business Integration's MINT
Knowledge Solutions will also act as the main TFM enabler within
SunGard's range of financial applications. To date, a number of SunGard
applications have used the MINT
Knowledge Family in order to
facilitate both internal integration with other SunGard applications
and connectivity to external networks. By establishing financial
protocol connectivity through the MINT Knowledge Broker, a SunGard
application will automatically become TFM ready, thereby increasing the
overall number of TFM-enabled SunGard applications.
SunGard Business Integration
SunGard Business Integration is a
leading provider of intelligent middleware and enterprise application
integration solutions designed exclusively for the financial services
industry. Based on the company's knowledge of the complex transaction
processes required in financial services, these solutions significantly
reduce the effort of integration across organisations, as well as
across disparate incompatible systems. SunGard Business Integration
solutions empower users by providing
the business intelligence, rules and
definitions for message processing (including message translation,
transformation, enrichment and routing). SunGard Business Integration
solutions are installed at major financial services institutions
worldwide.
SunGard
SunGard Business Integration is an
operating unit of SunGard, a global leader in integrated IT solutions
and eProcessing for financial services. SunGard is also the pioneer and
a leading provider of high-availability infrastructure for business
continuity. With annual revenues in excess of $1 billion, SunGard
serves more than 10,000 clients in over 50 countries, including 47 of
the world's 50 largest financial services institutions. Visit SunGard
at www.sungard.com.
ensemble
ensemble, established in 1996, is
focused on providing technology solutions to the banking and investment
management sectors in the South Africa. Getronics has a 35%
share-holding in ensemble. ensemble's major technological value lies in
its vast knowledge of Relational Databases, Object Orientation,
Microsoft technology and the latest Internet and Intranet development
tools and packages. With its current structure and alliances, ensemble
has access to many IT professionals, best of breed packages and
frameworks, countrywide roll-out and deploymen capabilities, helpdesk
infrastructure, as well as a solid financial backbone.
Visit ensemble at
www.ensemble.co.za