Bloomberg to enhance messaging compliance with Orchestria software
07 October 2004 | 459 views | 0
Bloomberg LP and Orchestria Corporation today announced a strategic alliance under which Orchestria will provide Bloomberg with a range of integrated messaging compliance solutions for the financial services market.
The hosted solutions will be offered as part of the Bloomberg terminal service and will include support for Bloomberg email and Instant Bloomberg, the instant messaging service for Bloomberg users.
Bloomberg users exchange millions of messages per day, many of which are subject to strict regulatory requirements. Orchestria's market leading Active Policy Management (APM) technology will allow Bloomberg users to check each message for compliance with the relevant rules in real-time, as the message is sent. Additional functionality, including long term message archiving, compliance review and litigation support, will be provided, as will full integration with existing APM deployments.
"Bloomberg is continually improving its services and functionality to provide greater and greater value to Bloomberg users," according to Gerald Walker of Bloomberg. "In addition to the e-mail review, retrieval and other compliance functionality already offered by Bloomberg, Orchestria's market-leading technology gives Bloomberg users the state of the art in compliance solutions for the financial community. Existing and future Orchestria clients will also benefit from seamless application of email policy across Bloomberg and internal communications systems."
“Orchestria has rapidly established itself as the market leader in advanced messaging compliance solutions,” Mr. Walker continued. “With sizeable deployments in many of the largest investment banks, they were the obvious technology choice to extend the compliance capabilities of the Bloomberg terminal."
"The extensive adoption of Bloomberg throughout the financial services industry will allow Orchestria to introduce the benefits of Active Policy Management to a broader audience, as well as extending the functionality we provide to our existing customers," said Bo Manning, CEO, Orchestria. "This alliance clearly extends the market leadership of both organizations."
The solutions will be available to Bloomberg users later this year.