|
Business
Tools & Technologies
Enterprise Integration
E-commerce
Global Straight Through Processing (GSTP)
|
|
|
|
|
|
I.V.A. Software & Automatisierung GmbH offers software and application
development for building integrated enterprise solutions, high traffic
e-commerce applications and business intranets, as well as an implementation
of GSTP (Global Straight Through Processing) trading standard. Through
the several scenarios, the following text shortly describes the key
technologies we use to achieve modern business solutions. |
|
| Enterprise
Integration |
|
With the host integration
tools and programming techniques we are able to use the host data
and extend the host functionality with the power of WEB and Windows.
The host integration
preserves capital investment in deployed technology, reduces total
cost of ownership, reduces administrative and hardware expenses and
in the same time offers benefits of high-performance solutions. Depending
of the company decision and actual situation, there are two types
of integration services: |
|
| |
Application
integration services
|
|
Data
integration services |
| |
Allows
the communication between host transaction programs and Web
or Windows based applications and provides the services that
enable host and Windows programs to work together. |
|
Provides
the host data access from Web and Windows applications, as well
as data transfer between them. |
 |
|
|
|
|
|
|
|
|
|
Application
integration services
The primary goal of the application integration services is to use
the mainframe transaction programs (TP) from inside Windows or Internet
based applications without having to change mainframe programs (COBOL
code) or business logic.
Depending of the business needs and scenarios (business to business,
business to customer, or business intranet), the synchronous or
asynchronous integration can be applied.
Synchronous integration provides real-time distributed transaction
system. It is used when host databases must be strictly synchronized
with each other. This means that one can invoke a legacy application
on the host and return values to a Web-based client.
Asynchronous integration is based on cross-platform message
exchange. It is used when programs need to exchange the data between
them and there is no need to wait for data processing. The benefit
of messaging is that the receiving party does not have to be available
at any particular point in time. Each message is delivered to a
messaging queue and the receiver picks up the message at the earliest
convenient time.
Data Integration Services
Data integration services enable host data access from Web and Windows
applications, as well as data transfer between them. The key technologies
used for data integration services are IBM Distributed Data Management
Architecture (DDM) and/or Java enterprise tools.
By supporting DDM, application developers are freed from having
to write complex communications interfaces for each platform they
need to support.
|
|
|
|
 |
|
|
|
| E-commerce |
|
|
| Electronic
commerce (e-commerce) is one of the fastest-growing market segments
of the information technology industry. Creating the site that will
handle huge volume of data, guarantee the safety of transactions and
fulfill the consumer speed and flexibility demands makes the e-commerce
solution critical with respect to time, scope and budget. I.V.A. Software
& Automatisierung GmbH offers the complete process model (including
the risk assessment and host integration) as well as site development,
testing and education for different levels of business complexity
and site sizes. We follow UML recommendations and best practices in
building e-commerce solution for different business complexities and
site sizes (measured with the number of clients per day).
We provide the
software services for following elements of e-commerce site:
Front-end
Functionality and applications for core Web services (HTTP(S), LDAP,
FTP).
Back-end
Database design and development, connectivity to the other systems
and data access layer (DAL) implementation.
Client
applications
Cross-browser and cross-platform client applications that meet the
latest technology standards and requirements.
|
|
|
 |
|
|
|
To build e-commerce
solution we divide process model into four phases. The roles that
I.V.A. can fulfill in such a model are displayed in table bellow.
|
 |
|
|
|
| |
Process
phase |
|
I.V.A.
tasks |
|
| |
Process
phase |
|
- Co-defines the goals and project structure
- Performs a gap analysis and identify risk
- Profiles the requirements
- Co-develops the solution concept
|
|
| Design |
-
Participates
in conceptual design
- Creates logical design
- Participates in physical design |
|
-
Implements logical design
- Develops databases
- Participates in testing. |
|
| Development |
|
| Deployment |
-
Creates deployment procedure |
|
|
|
|
|
| Application
design and architecture |
|
|
|
| In
building e-commerce solution I.V.A. follows the three-tier logical
and, whenever possible, the three-tier physical model. (Some implementations
require physical two-tier model with "fat server" to achieve
the required high performances and minimize network traffic.) |
 |
|
|
|
 |
|
|
|
| Global
Straight Through Processing (GSTP) |
|
|
|
| I.V.A.
software department offers the GSTP integration solution, developing
GSTP messaging applications, GSTP utility tools and related services. |
|
|
|
Overview
Global Straight Through Processing (GSTP) is a capability of financial
companies to process cross-border trades execution, clearance, payments,
settlement, custody, reporting and accounting without human intervention.
It
describes a trading environment among participants involved in post-trade,
pre-settlement securities processing. In other words, GSTP covers
block trade, allocation, net proceeds, accounting and settlement process
and involves investment manager, broker/dealer, global custodian,
accounting agents, concentrators and substitute parties.
|
 |
|
|
|
| GSTP
applies to all the major product areas including: |
|
|
|
Foreign
exchange
Equities,
including corporate actions
Treasury
Money
market
Commodities and
futures |
Corporate
bonds and other fixed income products
Mutual
funds and unit investment trusts
Derivatives, both
OTC and exchange traded
Futures and options
|
|
|
|
|
GSTP
utilization
The GSTP utilization
is based on information exchange system. The participants (clients)
exchange the messages with the Transaction Flow Manager (TFM) using
communication interface called Participant Access Module (PAM).
The participants always exchange the messages with TFM. The direct
communication between participants is not supported. Moreover, it
is out of GSTP concept.
|
|
|
|
 |
|
|
|
| The
GSTP messages are based on data elements defined in the ISO 15022
Data Dictionary and implemented in XML. Picture below displays core
business processes, participant interaction and sequence of messages
between participant and TFM.. |
|
|
|
 |
|
|
|
|
GSTP
utility access
To integrate GSTP into an existing enterprise solution, the company
has to develop interface module for communication with GSTP provider
interface library. I.V.A. offers interface module implementation
for C++, Visual Basic and/or Java based systems.
GSTP-message
generation
Besides the other objectives, GSTP implementation should:
Move to T +1 and/or T+0 cycle
Reduce
the operational inefficiency.
Reduce the trading costs.
Increase
cross-border trading volume.
|
 |
|
|
|
| To
achieve these objectives, the message exchange between participants
and TFM should be highly automated and error free. On the other hand,
for every received message TFM performs format and content validation
and message sequence check. If any of these validations fail, an Error
message is generated and sent back to the participant. I.V.A. is developing
GSTP Message Builder - a tool that helps participant to create error-free
TFM input messages. GSTP Message Builder validates the message syntax
and logical context and navigates the user towards appropriate corrections
in order to create a valid TFM input message. |
|
|
|
| Format
Validation |
Ensures that XML is well formed.
Ensures that XML tags contain correct format (data-type).
Ensures
that XML tags do not break inter- nor intra-field conditions. |
|
| Content
Validation |
Ensures proper implementation of mandatory, conditional and
optional elements.
Verifies message contents against existing data and details. |
|
| Message
Sequence Checks |
Verifies
trade and allocations versions against active version.
Verifies
message contents against existing data and details.
Verifies
existence of the trade for allocation level messages.
Verifies existence of trade and allocations for net proceeds
and settlement details messages. |
|
|
|
|
|
 |
|
|
|
|
The
picture shows the Message Builder feature to find the conflict
situation and navigates user to resolve the problem
|
|
|
|
|
|
|
|
|
|
|
|
