Cap Gemini Ernst & Young and webMethods forge STP alliance

Cap Gemini Ernst & Young and webMethods forge STP alliance

Cap Gemini Ernst & Young and integration software supplier webMethods are developing a solution to enable financial institutions to achieve straight-through processing and T+1.

The companies' combined technology offering will allow broker/dealers, global custodians and investment managers to achieve T+1 settlement for domestic and cross border securities trades. The solution will tightly connect the applications and systems necessary for settling securities trades, automating the flow of information between institutions and allowing settlements to move more quickly, securely and accurately, say the companies.

Financial institutions' shift to shorter settlement cycles is expected to be a significant business driver within the application integration and middleware market.

CGE&Y says it will build securities specific protocols and business processes on top of the webMethods systems integration platform. A wide range of support will be provided for standards such as SwiftNet, GSTPA, Omgeo, FIX, Oasys, FMCNet, ID, ISITC, Crest, and Euroclear.

Yvon Berube, vice president of critical technologies for CGE&Y, says: "Using webMethods strategically on multiple projects as a T+1 integration platform, we will be able to reuse a wide range of solution components and, thus, bring to our clients solutions that can be implemented in less time and at a lower cost."

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