Monday September 11, 9:04 am Eastern Time
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.
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
``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
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
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)
Javelin plays a role in a transaction's lifecycle from order
entry to execution as well as in Candle's solution for efficient STP
Javelin's Coppelia product is the leading FIX Engine and, along with the
CandleNet eBusiness Platform, offers a front-office STP solution for brokerage
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.
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
``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
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.
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.
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.