FpML-AWG-Legacy Fwd: FW: ITToolbox article tells about Chatting in FixML

["Danielle Cauthen" <dcauthen@xxxxxxxx>]

--- In fpml-arch-modelling-wg@xxxxxxxxxxxxxxx, Dmeetry Raizman
<dmeetry@...> wrote:


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 New <http://eai.ittoolbox.com/images/new.gif> Chatting in XML
3/19/01 2:02:11 PM	 
	
Financial Messages
Click
<http://eai.ittoolbox.com/browse.asp?c=EAIPeerPublishing&r=/pub/DR031201.pdf
> to View Article


Chatting in XML Financial Messages New
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by Dmeetry Raizman <mailto:dmeetry@...>  for ITtoolbox EAI
<http://eai.ittoolbox.com/> 



Summary:

This article exposes the convergence point where the combined strength of
Java and XML turns toward the major trend of the financial industry -
enabling the metamorphosis of conventional STP (Straight Through
Processing)
to RTC - Real Time Chatting between involved parties. Indeed, technology
contributes to the compression of the securities trade settlement
cycle from
the existing T+3 to T+1 enabling the upcoming drift of the financial
industry.

Full Article:

Click
<http://eai.ittoolbox.com/browse.asp?c=EAIPeerPublishing&r=/pub/DR031201.pdf
> to View Article

 

According to conventional perception, the only way for parties to swap
their
financial transactions is asynchronous exchange of messages. This is
concluded from the fact that each party uses its own core application
software. Applications, which were built years ago in extremely
proprietarily manner, are almost unrelated, and cannot "talk" natively
between them. Accordingly, in this heterogeneous application environment,
transmission and reception of messages remains the only and the
ultimate way
for disparate applications to communicate.
Suppose then, that the telegram-like messaging technology can be replaced.
For instance, assume that the messaging application enables you to
locate a
message that was just issued by the trader. It also immediately appoints a
broker to the business data of this message, and provides an entire
browser-based online contextual data view showing you all previously
issued
related messages. In such a situation, the broker can makes the business
decision, executes it and notifies the trader with the appropriate message
in real time... Continue...
<http://eai.ittoolbox.com/browse.asp?c=EAIPeerPublishing&r=/pub/DR031201.pdf
> 
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