Trading technology supplier Javelin Technologies and middleware vendor Candle are to offer an integrated solution designed for straight-through processing and T+1 compliance.
The companies says they will deliver an STP business services suite that integrates Javelin's Appia and Coppelia Financial Information eXchange (FIX) engines with CandleNet eBusiness Platform business services environment.
Torbjörn Ericsson, CIO, Enskilda Securities, comments: "This combination, along with Candle's connector to Javelin Technologies' FIX engine, has created a standard interface that will allow our clients and intradepartmental message flows to interact seamlessly."
In the United States, the Securities Industry Association has stressed that all finance companies need to achieve STP and T+1 readiness by mid 2004 to allow for a full year of testing for June 2005 completion. The Candle-Javelin suite allows institutions to address STP needs based on their business priorities; institutions control how, where and when they meet the STP challenge, say the companies.
David Caddis, vice president, business services management, Candle Corporation, says: "The capabilities of our STP suite will be critical for organisations to overcome those obstacles and automate trade processing. It will enable firms to take advantage of immediate benefits while preparing to phase in full support for T+1 mandates."