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Tuesday August 21, 7:03 am Eastern Time

Press Release

SOURCE: Vitria Technology

Javelin Technologies, Inc. and Vitria Will Deliver Comprehensive Integration Solution to Financial Services Industry

SUNNYVALE, Calif. & NEW YORK--(BUSINESS WIRE)--Aug. 21, 2001--

Javelin's Electronic Trading Infrastructure, Appia, and Vitria's

Integration Server Will Deliver End-to-End Rules-based Order

Management Solution

Javelin Technologies, Inc., the leader in electronic trading technology, and Vitria (Nasdaq:VITR - news), a leading integration server provider, are currently serving the international and domestic trading community. Javelin and Vitria will enable financial services customers to have access to the industry-leading process management Vitria provides with seamless integration into Javelin's electronic trading infrastructure, Appia. Connectivity will be provided through industry-standard FIX protocols.

By adding Vitria's business process management capabilities to Javelin's FIX engine, companies can proactively manage their exceptions and react to them promptly, gaining a comprehensive real-time view of trades.

``Vitria's integration server provides excellent process management and back-end connectivity to enable users of Javelin to extend the reach of our functionality,'' said John Coulter, President and COO of Javelin Technologies, Inc. ``The joint solution is another step toward Javelin and Vitria providing one-stop shopping for straight-through processing (STP).''

``Javelin brings a best-in-class trading engine, and Vitria allows the traders to no longer worry about back-end order management and fulfillment,'' said JoMei Chang, President and CEO of Vitria. ``The financial services market is ideal for Vitria's process management solution as they face intense competitive pressures and regulatory changes.''

Javelin and Vitria will provide customers with solutions to better manage their business transactions in a reliable and scalable environment and route them intelligently inside or outside the enterprise, allowing them to achieve straight-through processing in a seamless manner. The Javelin/Vitria solution will allow customers to create automated processes to:

  • Handle the majority of settlement activity of orders.
  • Automate trading strategies to hedge risk.
  • Capture business logic outside closed trading and settlement systems.
  • Capture changing trading and settlement logic with different counter parties.

Complementing Vitria's real-time BusinessWare infrastructure is an easy-to-manage graphic display for manual handling of unusual or faulty orders.

Demands for real-time analysis and verification of counter party data for equities transactions, and in the near future for Fixed Income transactions, can be met using the combined capabilities of Javelin and Vitria. The Javelin/Vitria solution delivers optimal exception handling capabilities, intelligent routing to business layer applications -- Order Management, Risk Management, Compliance and Back Office systems.

Javelin Technologies, Inc.

Javelin Technologies, Inc., based in New York City, with offices in San Francisco, London, Paris, and Manila, is the leading vendor of electronic trading infrastructure, providing better trading through universal connectivity. Javelin's electronic trading products and solutions power hundreds of clients including Chicago Board Options Exchange (CBOE), Yahoo!, Morgan Stanley Dean Witter, Fidelity Management Research and Instinet. Javelin's innovations have also attracted a growing list of investors including Robertson Stephens, Advent Software, Thomson Financial, Market XT/Tradescape and Investec Ernst. For information on Javelin's electronic trading solutions, visit www.javtech.com.


Vitria Technology, Inc. is a leading integration server provider. Vitria BusinessWare integrates applications and automates mission-critical business processes within and across the extended enterprise, reducing time to market, shortening lead times, lowering operating costs, and increasing customer satisfaction. Vitria is a global software company with over 25 offices in North America, and international offices in Australia, Canada, France, Germany, Italy, Japan, Korea, United Kingdom, Singapore, Spain, Switzerland and Taiwan. Vitria is a publicly traded company (Nasdaq:VITR - news) based in Sunnyvale, CA. For more information, call 408/212-2700, visit the company's Web site at www.vitria.com or send email to info@vitria.com.

This press release includes forward-looking statements, including statements relating to products, partnerships and future business commitments that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but are not limited to, failure to meet financial and product expectations of analysts and investors, risk as related to market acceptance of Vitria's product and partner's products, deployment delays or errors associated with these and new products of Vitria and partners, hardware platform incompatibilities, need to maintain and enhance certain business relationships with system integrators and other parties, ability to manage growth, activities by Vitria and others regarding protection of proprietary information, release of competitive products and other actions by competitors and economic conditions in either domestic or foreign markets. These and other risks related to Vitria are detailed in Vitria's Annual Report on Form 10-K for the year ended December 31, 2000, filed with the SEC on March 29, 2001, and in Vitria's quarterly reports on Form 10-Q as filed with the SEC. Vitria does not undertake an obligation to update forward-looking statements.

Note to Editors: BusinessWare® is a registered trademark of Vitria Technology, Inc. All other names may be trademarks of the companies with which they are associated.

     Vitria Technology
     Richard Kain, 408/212-2660
     Javelin Technologies, Inc.
     Jed Hamilton, 212/422-6000

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