WINDSOR, Conn. - SS&C Technologies Inc. unveiled the initial phase of its XE application platform for straight-through processing.
In this first phase, the technology can be used to communicate approved trades between SS&C's Antares XE trade order management and CAMRA XE portfolio management and accounting systems.
The new platform uses Microsoft's Distributed Component Object Model strategy and Microsoft Message Queue to deliver messages across a wide area over a virtual private network on the Web.
In future releases, the messaging system may incorporate from outside sources information such as FIX and SWIFT messages, pricing, compliance and corporate actions.
In other developments at the firm, SS&C blamed a 21% drop in third-quarter revenue on Y2K.
"Operating results for the third quarter are disappointing, with deferrals of license purchases because of Y2K still an issue with many of our largest enterprise prospects," said William C. Stone, SS&C president, chief executive officer and chairman.
Overall, the third quarter brought in $15.2 million in revenue, compared with $19.2 million last year. License revenue dropped 67% from the prior year's quarter to $3 million.
Northern Trust adds
BARRA TotalRisk software
CHICAGO - Northern Trust Co., with $262 billion in assets under management, is adding BARRA TotalRisk for Asset Management software to its risk-management product group to analyze investment risk for large institutional clients.
The new software provides access to BARRA's data, models, analytics and the BARRA TotalRisk software structure.
In addition to traditional risk measures, the software calculates risk across asset classes relative to benchmark targets. It also offers a detailed analysis of all asset classes, including security level modeling of U.S. and global equity risk.
TT International licenses
trade order management unit
LONDON - TT International has licensed the LandMark trade order management system.
The active international equity management firm will use the system for portfolio management, and for monitoring compliance and trading activities for its expanding European hedge funds and institutional portfolios. The firm also will use the system for electronic trading.
Vestek introduces
portfolio analytical software
SAN FRANCISCO - Vestek has introduced Strategy Developer portfolio analytical software that allows money managers to back-test prototype portfolios using historical market data and indexes for specific time periods.
Susan Lundquist, director of marketing at Vestek, said the software will help lessen the time it takes to bring an investment strategy to market.
Vestek officials have noticed particular interest from European money managers looking to create pan-European portfolios quickly, she said.
New version of Active Express
offers real-time access
NEW YORK - I/B/E/S International Inc. is actively marketing its new version of Active Express workstation, which allows institutional investors to access real-time analyst data, research reports and stock data in any format via HTTP Internet connection protocol.
Clients will be able to access data within seconds, customize the information on a particular stock, portfolio or universe and display it in various data modules in compiling reports. Active Express Version 3.1 works with standard database engines Microsoft, SQL Server, Oracle and Sybase. The application is available on Microsoft Windows 95, 98 and NT.
3 collaborate
on planning tool
Wiesenberger, Ibbotson Associates and Innovative Systems Techniques Inc. announced their joint collaboration in creating Blueprint Web, an Internet-based portfolio planning tool. It will hit the market in the first half of 2000 and be sold as an enterprise solution to brokerage firms, mutual fund firms and insurance companies.
The Web-based portfolio planning software measures investors' risk tolerances, classifies current holdings, recommends model portfolios and combines style analysis with security level analysis.
