Press Release Summary:
WebSphereÂ® Business Integration for Financial Networks v1.1 supports communications between financial institutions and Japan Securities Depository Center. It enables message transformation service between JASDEC format and XML and provides predefined dictionary for JASDEC messages. System allows central management of securities by depository organization to reduce risk of having securities physically exchanged among parties.
Original Press Release:
IBM Websphere Business Integration Connection for JASDEC Enables Straight Through Processing Reducing Transaction Settlement Times
At a glance
IBM WebSphere Business Integration Connection for JASDEC
provides the following capabilities to support communications
between financial institutions and Japan Securities Depository
Center (JASDEC), Japan's sole securities depository:
· Message transformation service between JASDEC format and XML
· Predefined message dictionary for JASDEC messages
Evolution in technology and changes in the business environment now require new financial messaging solutions. Financial infrastructures that surround custodians and securities are expanding with new RTGS systems and new Pre-Settlement Matching Systems (PSMS) in Central Security Depositories (CSD). External financial networks are providing new value added services to achieve Straight Through Processing (STP). Securities companies and custodians require a flexible infrastructure that can adapt to these constant changes.
In Japan, over 50% of outstanding shares of publicly traded companies are managed by the Japan Securities Depository Center (JASDEC), Japan's sole securities depository. Systems provided by JASDEC assure the streamlining of the securities issuing process, thereby improving the efficiency of custody and delivery of stocks and other securities. This system allows the securities to be centrally managed in the depository organization, which reduces the risk of having the securities physically exchanged among parties. Instead, these operations are replaced by the book-entry transfer in the accounts. Currently, the PSMS system is not integrated with the JASDEC settlement system, but JASDEC is planning to integrate those systems for delivery versus payment (DVP).
At that time, data from PSMS will automatically be sent to the
settlement system to further shorten the trade time. WebSphere® Business Integration for Financial Networks is a business
integration platform that serves as a messaging hub from which any number of financial applications can share centralized message processing services. Several accelerators run on top of
WebSphere Business Integration for Financial Networks, each giving applications access to additional services. One of these accelerators is the IBM WebSphere Business Integration Connection for JASDEC, which provides access to JASDEC
systems, and supports its PSMS application.
WebSphere Business Integration for Financial Networks V1.1
Planned availability dates
· March 9, 2004: Electronic software delivery
· March 26, 2004: Media and documentation
This announcement is provided for your information only. For additional information, contact your IBM representative,
call 800-IBM-4YOU, or visit the IBM home page at: www.ibm.com.