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DAILY NEWS AND INFORMATION
FOR THE GLOBAL GRID COMMUNITY / SEPTEMBER 15, 2003: VOL. 2 NO. 37
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Systems/Enterprise:
FITECH LABORATORIES BUILDS
FINANCIAL GRID ON BEA WebLogic
BEA Systems Inc, a leading application infrastructure software company,
announced an alliance with Fitech Laboratories, headquartered in San
Francisco, in which Fitech Laboratories is building its patented financial
transaction system on BEA WebLogic Platform 8.1. Fitech Laboratories' system,
called xTrade, is designed to offer financial services and securities
organizations in Japan with a low-cost alternative for online financial
transactions.
Fitech Laboratories' xTrade provides general-purpose software components
for
online financial transactions, such as spot, margin, futures option
transactions, and cash transfers or mail remittance. Because xTrade is built
on the unified, simplified and extensible architecture of BEA WebLogic
Platform, xTrade can enable customers to quickly build flexible financial
trading systems at a low cost by combining, reusing or adding software
components. xTrade features patented caching technologies, which combine with
the reliable, scaleable and secure architecture of BEA WebLogic Server, to
satisfy the high performance required for mission-critical financial systems.
Several financial services firms in Japan, including the foreign exchange
deposit trading system of Nikko Cordial Securities, have built their online
transaction systems using xTrade. Several solutions providers in Japan, such
as Toyo Engineering, Toyo Business Engineering, CAC, Simplex Technology and
NTT Communications, have successfully customized and deployed xTrade at
businesses.
"The Japanese financial services market will spend nearly $12 billion on
technology this year, and these businesses expect technology that is
industrial strength and easier to use," said Thierry Gabadou, vice president
of sales and marketing for Fitech Laboratories. "For these reasons, we
selected BEA WebLogic Platform 8.1 as the default application infrastructure
platform to build xTrade. By combining xTrade with the portal interface,
integration and application development capabilities of BEA WebLogic, Fitech
Labs can offer businesses an application that accelerates time to value and
lowers total cost of ownership."
xTrade is a component-based server-side financial services platform that
supports XML messaging, is written in Java, and is designed to support the
demands of financial trading systems and other online transactions in the
Asian market. The platform's advanced component architecture and modular
business logic design make it reusable, expandable, flexible and highly
scalable.
"Fitech Laboratories' xTrade software enables financial institutions to
develop, implement, maintain, extend, and integrate a versatile business
process to perform various financial transactions on a single platform," said
Scott Edgington, vice president and general manager of global software
partners at BEA Systems. "This is another example of an innovative software
company leveraging BEA's standards-based application infrastructure to
accelerate the development and integration of applications and processes in
order to drive better business efficiency."
BEA WebLogic Platform 8.1 is based on a unified architecture that includes
new
versions of BEA's industry-leading application server and Java virtual
machine, BEA's award-winning enterprise portal and application development
framework and BEA's innovative integration solution. BEA WebLogic Platform 8.1
includes application infrastructure technology from proven BEA products that
are used by thousands of customers worldwide and combined to offer a single,
unified, easy-to-use infrastructure platform for application development,
integration, deployment and management.
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