IBM has teamd up with a host of third party software developers to launch its straight-through processing (STP) WorkBench solution, a comprehensive package of professional services and business solutions designed to help global securities companies improve back office transaction processing.
The IBM STP WorkBench is a modular set of offerings comprised of consulting, re-engineering and integration services as well as hardware and software components from IBM and select software business partners. The package is designed to help broker/dealers, global custodians and investment managers settle trades more quickly, reduce costs and lower operational risks in line with industry targets for a T+1 settlement timeframe.
"Straight-through processing enables more than just shortened trade settlement cycles and T+1," says Tom Shaw, director, straight-through processing, IBM Global Financial Markets. "Our clients and the entire securities industry are asking us to help them create a flexible, cost efficient infrastructure that enables e-business expansion, globalisation, improved risk management capabilities and better customer relationship management."
Creating an infrastructure that provides for continuous processing and real-time access to enterprise data is the key to meeting these business challenges, he says.
IBM technology products including MQSeries messaging middleware, DB2 Universal Database, WebSphere application server and eServer form the foundation of the WorkBench. Application partners include Access International, Financial Fusion, One-Ten, OST Business Rules Limited, PaceMetrics, SmartStream, SunGard and Wilco International.
The technological firepower is supported by a range of consulting offerings, including STP workshops for executives, STP readiness assessments, STP diagnostic work and STP architecture planning.