Javelin Technologies, a provider of FIX server technology, has licensed its Coppelia FIX server solution to IT Software, a Milano, Italy-based company that offers trade order management systems. IT Software will bundle Coppelia with its EasyTrade Order Entry, Routing and Management platform. IT will also bundle a new Coppelia module called Enhanced Performance, which is intends to provide speed and higher throughput. Separately, Javelin is providing an EMX-compliant version of Coppelia to support the EMX initiative now taking center stage in Europe. EMX Co., a wholly owned subsidiary of the Association of Unit Trusts and Investment Funds, is preparing to provide an electronic dealing system for the investment funds industry. The system is set to go live in June 2000. Building atop the FIX protocol, Javelin has created custom message types, while complying with encryption requirements in order to accommodate the needs of the EMX system. Javelin developed the EMX-compliant system with the help of Scudder Threadneedle Investments.
At the March meeting, the Board of Directors of S.W.I.F.T. passed a resolution stating that eligible securities broker/dealers and regulated third-party investment management institutions (IMIs) qualify as full members of S.W.I.F.T. The Boards decision reflects the convergence that is taking place in the financial services industry, where banks, broker/dealers and investment managers are beginning to provide similar services. In June 2000, eligible IMIs and broker/dealers will be contacted about their new membership status. These institutions will be able to use the S.W.I.F.T. services in the same way as all existing members and will be able to purchase shares in S.W.I.F.T.
Chase Manhattan Banks Global Investor Services has entered into a $20 million joint venture with Investia, an e-commerce technology provider, to create FundsHub, an outsourced fund supermarket solution for Europe. FundsHub will be targeted at banks, insurers and new entrants into the financial services industry seeking to exploit the rapidly growing online investment market. FundsHub will allow these companies to instantly offer their customers the choice between thousands of investment funds, unit trusts and mutual funds. The service also seeks to offer fund companies access to new pan-European distribution channel through retail banks and brokers, while providing private investors with access to a range of global funds, fund research, comparison and asset allocation tools.
The National Investment Company Service Association (NICSA) is holding a two-day conference, "Ahead of the Curve: Innovation for Financial Services," at the Boston Park Plaza Hotel on May 10 and 11. Forum topics will include the latest trends in Web tools and technologies, innovative e-commerce strategies and investment advice on the Web. Speakers will include Don Alden, vice president of e-commerce, Putnam Investments, Peter Biciunas, senior vice president, Fidelity Investments, and Robert DiStefano, managing director, the Vanguard Group. To register, visit www.nicsa.org/innovation.