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Tech Industry

Sybase targets financial firms

The software giant announces a series of moves aimed to strengthen its position as a provider of software to financial organizations.

Sybase, one of the world's largest software companies, today announced a series of moves to strengthen its position as a provider of software to financial organizations.

The company announced it is beginning the first phase of beta testing for Sybase Financial Server, a platform for securities trading, electronic banking, and insurance applications. Sybase also announced deals with two other software firms that will provide specialized technology and solutions for the financial server.

Silicon Summit Technologies, a developer of Java-based trading applications for the securities industry, will integrate its proprietary order management system (OMS). This system is a distributed Internet/Intranet-based application designed to automate the processing of indications, advertisements, and execution tickets across traders, external clients, and third-party suppliers of financial transactions.

Sybase has also licensed Javelin Technologies' Coppelia Financial Information eXchange server (FIX). This technology allows real-time electronic exchange of financial messages for securities transactions such as orders, executions reports, and order allocations.

The company said it is actively pursuing innovative technology suppliers to provide components that will further enhance the value of Sybase Financial Server to its strategic customers.

Beta testing for the Sybase Financial Server will end in May, and will target different areas of the financial services industry. The product will be offered in several versions to meet the specific needs of the banking, securities, and insurance sectors. Pricing will be announced at the time of the product release.

Sybase's announcements were made today at the IT for Wall Street Conference being held in New York this week.

The company also said today that it will release a series of industry-specific business intelligence applications that may assist companies in improving their competitive positioning within their marketplace.

Sybase hopes that combining the industry-specific applications with its Warehouse Studio, a data warehouse design and meta data management environment, will make the system more efficient.

Each industry Warehouse Studio contains an industry best-practices blueprint consisting of comprehensive information for decision support applications, data management and administration functions, along with queries, reports, and graphs for business intelligence tools.

These industry packages are specifically tailored for the retail banking, insurance, telecommunications, utilities, retail, credit card, healthcare, and distribution industries. Each of the industry Warehouse Studios is database independent and can be deployed in environments in which the database engine used to execute the application queries can be any SQL product, including those from Oracle, IBM, Microsoft, Informix, and Sybase.