Under the Memorandum of Understanding, FMS will participate in NDA briefings and be provided with pre-release copies of .NET products. Microsoft will review FMS’ .NET Framework and Visual Studio.NET architecture and provide assistance where appropriate and will also solicit feedback from FMS to help define product requirements for future developments of products. FMS and Microsoft will issue joint press releases involving common .NET initiatives and developments. Microsoft also plans to profile FMS in a case study on its .NET website.
In addition to the Memorandum of Understanding, FMS has also become a member of Microsoft’s Premier Support for Developers Program, a program designed to help software developers rapidly build and deploy quality applications for Microsoft-centric platforms. FMS will receive proactive, personalized support services and fast, expert advice on how to exploit the potential of Microsoft technologies. Key features provided by Microsoft to program members include:
Account Management - personal account management assigned directly to FMS.
Proactive Services - troubleshooting assistance, reviews, ad-hoc consulting, and lab services to help accelerate the development cycle.
Premier Online Support - fast, easy access to technical information.
Responsive Services - round-the-clock access to Microsoft’s expert support professionals.
About Microsoft .NET
Microsoft is creating an advanced new generation of software that will drive the Next Generation Internet. Microsoft calls this initiative .NET, and its purpose is to make information available any time, any place, on any device. Microsoft .NET will allow the creation of truly distributed Web Services that will integrate and collaborate with a range of complementary services. Over the next three years, Microsoft will invest US$2 billion to enable industry partners, independent developers, and corporate IT developers to build Microsoft .NET services.
The Internet economy, specifically e-Marketplaces and e-Exchanges are creating exciting new opportunities for businesses of every size. These solutions will bring buyers and sellers together in a virtual space, reducing transaction costs and enabling businesses to expand its customer base.
'These powerful new business models are fundamentally changing the way organizations do business with one another. New business-to-business (B2B) e-commerce solutions, like the one from FMS, based on Microsoft’s .NET platform, are emerging to help every business reach a global marketplace. Microsoft views FMS as one of the leaders in this new generation of solution providers,' said Bill Hartnett, Microsoft’s Global Director of Financial Services.
The central component of all FMS solutions is the Universal Trading Platform (UTP), which was developed as the Next Generation of B2B and B2C Exchange/e-Marketplace Platform. This dynamic web-based platform enables unlimited numbers of simultaneous users to access the system and execute trades on a fully automated basis. The first complete solution was implemented for the Foreign Exchange Market followed by the additions of Forwards, Options, and Equities trading modules. Scheduled future enhancements including Bonds, Futures, and Precious Metals modules are due to be added to the system by the second quarter of 2001. The same platform can be used for transactions in any tradable financial instrument, making the UTP versatile enough to handle virtually all of a client’s treasury management needs.
The UTP is available to Financial Institutions either as an ASP solution over a secure server farm located in Seattle, or as an internally licensed software solution. The system’s unique design allows for multi-user capability, a feature that when combined with the virtual market module will allow users to become market makers and market users.
Kinvara Ventures Inc. (Kinvara) has an agreement that allows it to acquire all of the issued and outstanding shares in FMS from its existing shareholders. The completion of this transaction will result in a reverse-take-over of Kinvara, requiring both exchange and shareholder approvals.
Scott Wilson or John Pascal van Houden
Financial Market Solutions, Inc.