Business integration outfit Integra SP has implemented a real-time trade management solution for Prebon Yamane, linking brokers in London and New York to internal and third party processing systems, including Swapswire.
The six-month project, conducted in conjunction with Sun Microsystems, entailed the implementation of Integra's iaTrade system at Prebon Yamane's London and New Jersey offices. The Java-based platform is running on a network of eight Sun Ultra 80 servers and ties internal trading systems to both customers and third-party deal processing systems.
Prebon is initially utilising the system to provide straight-through processing (STP) to customers via Swapswire, with additional services to be added in the future.
Geoffrey Sanderson, CEO of Kinetech International Limited, Prebon's IT arm says the Integra and Sun partnership delivers a system that combines enterprise application integration (EAI) and STP, with full fault tolerance and resilience.
With Web Services delivery an operational goal for Prebon "we need to provide STP in an open, industry-standard XML API as well as support proprietary customer formats with minimal effort," says Sanderson.
The iaTrade platform is billed as both transport and message format independent. In addition to supporting JMS, HTTP, IBM MQ and Tibco, iaTrade supports varied message format standards such as XML, FpML, ISO 15022, SQL and CSV.
Sven Thiele, CEO for Integra SP, comments: "The system enables new deals to be created without rewriting software and facilitates dynamic deal lifecycle workflows. By adopting industry standard technology such as Java, Web Services and XML, the system can be extended with minimal EAI effort and cost."
Looking to build on its success at Prebon, Integra has assembled a specialist STP addvisory team, including: Fred Meyer, formerly chief strategy officer for Tibco Software and recently appointed CEO of systems integration start-up Ironhide; Ken Yeadon, a former head of e-commerce for the Asia/Pacific treasury and capital markets business of HSBC and initial chairman of the multi-dealer consortium BondsInAsia; Graham Norton-Standen, former chairman and CEO of Gartner International; and Rob Knourek, a former president for Reuters Retail Solutions.
Integra's Thiele says: "The executive board at Integra SP will work closely with these individuals to keep us at the forefront of the technology curve for fault tolerant STP solutions."