LONDON â January 29, 2004 â Prebon Yamane, a premier broker for financial institutions worldwide, has standardised on the SonicMQÂ® enterprise message server from Sonic Software to provide the messaging backbone for its Global Brokering System (GBS). By deploying Sonic, Prebon can achieve Straight-Through Processing (STP) across its major offices in New York, London and Singapore.
Prebon selected SonicMQ for its ability to easily integrate with the variety of financial messaging protocols used by Prebonâs banking customers, such as FIX or SWIFT, and other messaging middleware products such as TIBCO Rendevous or IBM WebSphereMQ. Additionally, Prebon conducted extensive benchmarking in which SonicMQ emerged as the best performing JMS-based message server based on test conditions indicative of Prebonâs trading environment. Sonic proved best in performance, resiliency, fail-over, security and ease of use for the developers.
"We have to support everything and connect to anything, this is one of the benefits offered by SonicMQ together with its scalability and guaranteed delivery," said Geoffrey Sanderson, CEO, Prebon Technology Group.
"It is a business imperative that trade notifications and confirmations reach their destinations. Our IT strategy is to choose best of breed products in their particular space. Weâve decided that SonicMQ is the best product for the job and are now standardising on it as our enterprise messaging backbone."
SonicMQ is one of Prebonâs cornerstone technologies, enabling a highly scalable and secure messaging backbone that guarantees message exchange between businesses regardless of any hardware, software or network failure. Prebon is rolling out the latest release of SonicMQ, which includes Sonic Softwareâs patent-pending Dynamic Routing Architectureâ¢ (DRA) and clustering technologies, which allow Sonic to scale without limit. Prebon has also begun a proof of concept with Sonic ESBâ¢ (enterprise service bus) to achieve a more closely integrated workflow approach and service-oriented architecture.
"Prebon is one of the three largest institutional money brokers in the world, and market leaders when it comes to implementing state-of-the-art institutional trading infrastructure," said Alun Baker, managing director for Sonic Software EMEA. "The selection of SonicMQ for the Global Brokering System is yet another example of how Sonic is enabling standards-based, real-time communications infrastructure for financial services firms."
GBS, a J2EE-based, thin client trading system, represents a major IT initiative, advancing Prebonâs competitiveness and ability to take advantage of growth opportunities in the market. GBS gives Prebon offices worldwide access to common reference data â a major prerequisite for achieving a high percentage of STP; will increase customer service levels and improve the availability of management information.
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