Archipelago Holdings, which owns and operates the world's largest fully-electronic stock exchange, is using an integrated system from IMlogic and EMC Corporation to comply with strict federal regulations regarding electronic message archival in a Microsoft Exchange environment.
IMlogic IM Manager and EMC EmailXtender e-mail archiving software work together with EMC Centera content addressed storage (CAS) system to ensure e-mail and instant messages (IM) containing financial information are appropriately and securely stored in Archipelago's database for easy retrieval and review. Automating compliance helps Archipelago adhere to Securities and Exchange Commission (SEC) and National Association of Securities Dealers (NASD) regulations.
Chicago-based Archipelago owns and operates the Archipelago Exchange (ArcaEx), which levels the playing field for institutions and individuals alike for fast, fair execution of trades. ArcaEx is the country's first totally open all-electronic stock exchange. Its clients use instant messaging to obtain information from ArcaEx's trade support staff. The company chose a joint system featuring IMlogic IM Manager, EMC EmailXtender and EMC Centera that will provide the reliability, ease of use and trusted compliance the company demands.
"When the SEC and NASD announced new policies about electronic message storage, Archipelago evaluated several platforms to comply with the new regulations," said Archipelago Chief Technology Officer Steve Rubinow. "The combination of IMlogic IM Manager, EMC EmailXtender and EMC Centera gives us the confidence that we are storing all of the necessary messages we need to in an easily searchable database. That peace of mind is significant as more of our clients are using instant messaging to communicate with us."
IMlogic IM Manager provides the flexibility to capture instant messages from a variety of different IM networks used by Archipelago's traders. It then saves those messages as e-mails that it exports to EMC EmailXtender, which fully indexes the messages and stores them within the archive to EMC Centera. Should the need arise, Archipelago managers can easily search and find instant messages and e-mails using a variety of different criteria.