Reuters is developing an intelligent message transformation rules engine to support bank correspondence with third party market utilities such as Swift, CLS and GSTPA.
The product, which is based on the Tibco ActiveEnterprise middleware suite, will provide a standardised pre-packaged solution which will sit above a bank’s basic middleware backbone. Reuters says it is working with interbank network Swift to ensure that the proposed plug-and-play service is SwiftNet ready.
The vendor says it will have a working model ready for demonstration at next year’s Swift seminar (Sibos), when banks will be firming up their plans for migration to the SwiftNet IP network.
At this year’s exhibition Reuters’ subsidiary Tibco announced that its ActiveEnteprise adapter for Swift has received SwiftReady 2002 Gold EAI certification. Former Swift staffer and current Reuters STP director Tony Kirby says the certification will considerably enhance Reuters’ ability to provide business solutions to the Swift community.
The development of software to ease bank migration to up-and-coming networks and utilities has been high on the list of vendor prioirites at this year’s Sibos. IBM announced a similar service to that proposed by Reuters via its WebSphere middleware package earlier today. Microsoft also is in beta production of its BizTalk Accelerator for Financial Services for integrating financial messaging with internal business processes. Mesage borkers such as Mercator, and business process management outfits like Pegasystems are also upping their game to compete in this arena.