4/29/2003 - IONA®, the leading provider of Rapid Integration software (NASDAQ: IONA), announced that Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC), has upgraded its use of IONA's Orbix software within Oneva Trade EQ, the trade workflow and execution system that completely automates the trade order management process from trade generation through allocation for buy-side traders and portfolio managers worldwide. With IONA's software, Oneva Trade EQ can effectively leverage the Financial Information eXchange (FIX) standards to quickly and efficiently communicate with external liquidity sources such as brokers, exchanges, ECN's and ATS's.
FIX is a structured language protocol developed for the real-time, electronic exchange of securities transactions and is an integral part of the financial industry's global initiative to achieve Straight-Through Processing (STP). Oneva Trade EQ uses IONA's software to facilitate a technology bridge from Java to C++ via IONA's CORBA interface.
IONA's Orbix software provides Thomson Financial's Oneva Trade EQ with the world's leading service-oriented, standards-based distributed computing platform to utilize the CORBA Interface Definition Language (IDL), which supports the technology requirements of OTEQ and its internal FIX engine.
"We are always searching for innovative approaches to improve the communication needs of our clients' transaction-intensive environments," said Suresh Kavan, president of Thomson Financial's Investment Management Group. "IONA is a crucial component to our efforts, supplying integration between Oneva Trade EQ and our FIX engine."
Oneva Trade EQ is fully integrated with PORTIA, Thomson Financial's portfolio management system, providing access to real-time consolidated portfolio management data. In addition to PORTIA, Oneva Trade EQ can easily integrate with other portfolio management systems. It serves as a gateway that links traders with brokers, exchanges, electronic connectivity networks and other systems for true straight-through processing.
"IONA has answered the unique integration challenges of the financial services industry for more than ten years, and our current work with Thomson Financial demonstrates our continued leadership in this sector," said Barry Morris, CEO at IONA. "IONA provides Thomson Financial the expertise and tools to meet its current requirements in developing FIX communications within its order management system, Oneva Trade EQ."
About Thomson Financial
Thomson Financial is a US$1.5 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), a leading provider of value-added information, software applications and tools to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. The Corporation reported 2002 revenues of US$7.8 billion and its common shares are listed on the Toronto and New York stock exchanges (TSX: TOC; NYSE: TOC).
IONA is the leading provider of Rapid Integration software with more than 4,500 customers worldwide. IONA's award-winning Rapid Integration software products are built on: service-oriented architectures that increase reuse of software assets to deliver lasting results, standards-based software that enables vendor independence, and incremental deployment capabilities that lower the customer's risk.
Founded in 1991, IONA® (NASDAQ: IONA) is headquartered in Dublin, Ireland, with U.S. headquarters in Waltham, Massachusetts and offices worldwide. For additional information about IONA, visit our Web site at http://www.iona.com.
IONA, IONA Technologies, the IONA logo, Orbix, Orbix/E, Rapid Integration, Artix, Mobile Orchestrator and Making Software Work Together are trademarks or registered trademarks of IONA Technologies PLC and/or its subsidiaries. J2EE is a trademark or registered trademark of Sun Microsystems, Inc. in the United States and other countries. CORBA is a trademark or registered trademark of the Object Management Group, Inc. in the United States and other countries.
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