The VMR helps organizations bring standardization of information exchange between internal applications and their partners’ by consistently labeling information flowing between them. By establishing such a metadata repository organizations can simplify STP implementations and also compliance with new regulations such as Sarbanes-Oxley and Basel II.

"The inputs we received from key beta customers enabled us to accelerate our development, but more importantly, it helped us to address the real needs of potential users in sell-side and buy-side firms. As a result, we believe that Volante’s Metadata Repository is unique in the marketplace”, commented Krishna Sudarshan, Volante’s CTO. “The uniqueness arises from the fact that VMR is a metadata repository based on enterprise messages and is actively kept updated. Volante’s transformation models which map to and from enterprise messages are built from the repository and checked back into it.”

Volante has been developing the product for several months in close concert with prospective users and with input from members of industry organizations such as the Securities Industry Middleware Council (SIMC). A member of SIMC, and an advocate of canonical metadata, Avner Gelb of SIAC, has also been advising Volante’s development efforts. While the need and benefits of metadata repositories have been discussed extensively, SIAC has been in the forefront of implementing this concept.

"Recently Volante decided to release the Beta version of Volante’s Metadata Repository for evaluation purposes to select users because of high level of interest in the financial marketplace", explained Vijay Oddiraju, Chairman and co-founder of Volante. “The VMR is a natural extension of our widely acclaimed message management software and addresses the need for message standardization at an enterprise level. "In fact, he added, "the product is already installed and in pre-production use at one client site, and is under serious review at two other prospective accounts."