Monday September 11, 9:04 am Eastern Time

Press Release

SOURCE: Candle Corporation

Candle Solves Connectivity Issues Between Disparate Business Systems to Enable Straight Through Processing (STP)

Integrates Company's Technology With New Partner Javelin Technologies to Enable FIX-to-SWIFT Translation

SAN FRANCISCO, Sept. 11 /PRNewswire/ -- The concept of straight through processing (STP) has been discussed for several years now as a modus operandi for securities brokers and banking institutions, and several leading consulting firms have stepped forward to offer solutions in this arena. But how to actually connect disparate business systems remains a key issue that must be addressed. At the SIBOS (S.W.I.F.T. International Banking Operations Seminar) show starting today in San Francisco, Candle Corporation will demonstrate STP-enabling technology that securely and seamlessly allows different business systems to interface.

``Candle has a rich heritage in the financial services industry from our work with companies such as Merrill Lynch, AXA Financial, and Chase Manhattan Bank to help them integrate their mission-critical business systems,'' said Chip Tomanek, manager of financial industry marketing and solutions for Candle. ``Our technology addresses a full spectrum of STP solutions enabling front-office, mid-office, back-office and business-to-business interoperability for both brokerage and banking environments.''

At SIBOS, Candle will demonstrate its CandleNet FS/Access(TM) product, which provides a gateway to SWIFTAlliance, the interface to S.W.I.F.T.'s secure, global telecommunications network. Beyond FS/Access, Candle will show solutions in application integration and trade processing that enable STP vendors to connect and complete their STP implementations.

Candle's SIBOS presentations illustrate how the company's CandleNet product suite seamlessly integrates the standard messaging transports that are critical for many STP solutions, including IBM MQSeries, Microsoft MSMQ, and Tibco Rendezvous, and incorporates brokers such as Mercator, NEON and IBM MQSI. In addition, Candle will demonstrate Web-to-legacy, XML, COM and CORBA solutions that provide the multiplatform, multiapplication integration that is typically required for STP.

Tomanek highlights the CandleNet eBusiness Platform(TM) as a means to interconnect all the different systems that are ``touched'' during the trade lifecycle. Along with the company's Candle Command Center® and eBusiness Assurance products, a transaction can be tracked from trade entry through clearing and settlement. ``One of the most important aspects of our solutions is that they allow a brokerage firm or bank to reuse the data assets that they collect on their customers' investment history and portfolio management to better understand their customers' needs,'' noted Tomanek.

According to Tomanek, business partnerships have been vital to the development of Candle's STP-oriented offerings. Last year, Candle announced its relationship with Staffware plc., the leading provider of process workflow technology worldwide, to aid in the order settlement process. This year at SIBOS, Candle is announcing a relationship with Javelin Technologies, the leading provider of financial information protocol servers for electronic securities trading and front-runner in Financial Information Exchange (FIX) technology. Javelin plays a role in a transaction's lifecycle from order entry to execution as well as in Candle's solution for efficient STP operations.

Javelin's Coppelia product is the leading FIX Engine and, along with the CandleNet eBusiness Platform, offers a front-office STP solution for brokerage firms. For example, Candle and Javelin's technology can be employed to link a Web-based interface for entering securities trade transactions to a custom application that performs trade-order management on the back-end. ``The primary benefit of integrating Javelin's Coppelia 6.0 with Candle's technology is performing a FIX-to-SWIFT translation, while FIX-enabling legacy and new applications,'' said Tomanek. ``With many of the industry standard platforms, protocols and applications converging, this kind of interface between FIX and SWIFT is critical for interoperability between financial organizations.''

``We see a great deal of synergy between Candle's systems management and integration solutions and our FIX technology, in bringing together two distinct and commonly used financial protocols for the purpose of greatly enhancing STP,'' said George Kledaras, president and CEO of Javelin Technologies. ``Together, our solutions enable customers that use SWIFT to develop tools to integrate FIX into their trading environments.''

Looking toward the future, Tomanek points out that the company's CandleNet eBusiness Exchange(TM) (eBX(TM)), a managed business network service, will enable banks, brokerage firms and insurance companies to quickly and seamlessly access each others' services. ``We project that the eBX may be available for our financial services customers toward the middle of next year.''

About Candle Corporation

Based in Los Angeles, California, Candle Corporation is one of the world's largest independent global software and services companies. Serving more than 5,000 customers in 59 countries worldwide, Candle develops and markets more than 200 products and services that enable companies to create, integrate, manage and measure the effectiveness of their e-businesses. Candle's solutions provide the speed and agility that are mandatory for success in the world of e-business. To find out more, visit Candle online at www.candle.com.

NOTE: Candle and the Candle logo are trademarks or registered trademarks of Candle Corporation. Other products mentioned herein may be trademarks and/or registered trademarks of their respective owners.