12/17/2003 - TimesTen, Inc., a provider of infrastructure software for real-time applications, announced that JPMorgan (NYSE: JPM), one of the world's premier investment banks, has successfully deployed its new equities stock booking and allocation application, CHEOPS, with real-time capabilities provided by TimesTen®. JPMorgan has implemented TimesTen as a front-office in-memory data manager for orders and program trades as they are processed by its Equities line of business. TimesTen was chosen for its proven track record, high-performance architecture and a strict adherence to standards, thus enabling easy integration and future flexibility.
Investment banks process millions of transactions each day—a volume projected to increase as the market becomes more sophisticated and index-based products continue to evolve. To be at the forefront of that evolution, JPMorgan continues to innovate with advanced equities processing systems today to ensure their clients have access to the industry's most sophisticated, high-value services.
"Our award-winning Equities processing system has been greatly enhanced with the new CHEOPS application," said R. John O'Hara, vice president and global architect for institutional equities technology, JPMorgan. "By using commercial software like TimesTen, we were able to focus our 'know-how' on our core areas of expertise, which allowed us to rollout CHEOPS more quickly and efficiently and deliver the exceptional market services our customers demand."
"As a leading global financial services firm, JPMorgan knows the value of staying in front of the technology adoption curve," said Jim Groff, CEO, TimesTen, Inc. "It means providing newer, more innovative services that keep customer satisfaction levels high, ensures faster time to profitability and keeps the competition lagging behind. TimesTen provides the real-time infrastructure software required for high-volume trading and risk management solutions. We are pleased JPMorgan selected TimesTen for this vital part of their infrastructure," added Groff.
TimesTen in Capital Markets
For the capital markets industry, TimesTen is designed to support order management systems for equities, derivatives and fixed income trading including: subsystems for order routing, pricing, trade execution, position keeping and P&L, as well as applications for program trading and risk analysis. TimesTen provides the ideal foundation for securities trading systems through a combination of the following unique features:
About JP Morgan Chase
J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $793 billion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, investment management, private banking and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumers nationwide, and many of the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the Internet at www.jpmorganchase.com.
About TimesTen, Inc.
TimesTen provides infrastructure software for real-time event processing—a fundamental requirement of time-critical applications used by financial serivces firms and global telecom providers. Systems built with TimesTen inside are instantly responsive, highly reliable, and able to process massive transaction volumes. Cisco, Deutsche Bank, JP Morgan, Nokia, and Sprint are among the customers who rely on TimesTen's software and expertise to create a unique advantage in a rapidly changing market. For more information, visit www.timesten.com.
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