Postbank deploys Tibco technology for MiFID overhaul

Postbank deploys Tibco technology for MiFID overhaul

Germany's Postbank has implemented technology from California-based Tibco Software to overhaul its operations and comply with EU trading regulations under the Markets in Financial Instruments Directive (MiFID).

Tibco says Postbank has implemented its service orientated architecture (SOA)-based integration technology ActiveMatrix BusinessWorks as well as Rendezvous messaging software.

Postbank is using the Tibco infrastructure to link 15 different systems - including risk management, proprietary trading and pricing applications - with each other and with its global trading systems.

The vendor says the SOA and messaging software now form the core of a fully-integrated, fast, reliable and high-performance proprietary trading platform at Postbank. Through trading processes and the automation of manual tasks Postbank has been able to increase efficiency and reduce the risk of error.

Michael Schlosser, head of group client execution at Postbank, says Tibco Software's pre-defined tools enabled the bank to map trading processes much quicker than would be possible with traditional methods such as SQL.

"This enabled us to implement MiFID requirements in the record time of just six weeks," he adds.

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