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Articles from
May 2006
Digipede Launches the Digipede Developer Network to Accelerate the Development of Grid-enabled Applications for the Microsoft Platform
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Digipede Technologies (www.digipede.net), a leading provider of distributed computing solutions for the Microsoft Windows platform, today announced the Digipede Developer Network and the Digipede Network Developer Edition. The Digipede Developer Network is a growing community of software developers who are benefiting from the powerful Digipede Network to grid- enable applications for improved performance and scalability. The Digipede Developer Network provides support and further expands the Digipede ecosystem of partners and developers. The Digipede Network Developer Edition is available now, free to software developers, and includes licensing for one Digipede Server, two Digipede Agents, the Digipede Workbench, and the acclaimed Digipede Framework SDK.
"Our partners and customers continue to identify a wide range of applications that can benefit from increased scalability and performance through distributed computing. Today we are pleased to announce that we are expanding the Digipede ecosystem to further support software developers in grid-enabling their applications," said John Powers, CEO of Digipede. "By providing free tools and support to developers, we're helping to accelerate grid adoption. As more grid-enabled applications become available and more application developers become grid savvy, our customers can achieve the benefits of grid computing more quickly."
Powers adds, "With today's announcement, we expand our commitment to the Windows development community by providing Windows developers with the easiest and most cost-effective technology available for building grid-enabled applications."
The Digipede Network Developer Edition offers full support for .NET 2.0, Microsoft's next-generation framework for building and running business applications. The Digipede Network pools the power of Windows desktops and servers to deliver dramatically improved performance for real-world business applications. This solution is radically different than other grid offerings; built entirely on Microsoft .NET technologies, the Digipede Network provides the easiest and quickest way to grid-enable and distribute applications. With the Digipede Network, customers can focus on solving their key business and research problems rather than wasting valuable resources developing a distributed computing infrastructure.
The Digipede Framework SDK integrates with and fully supports the Visual Studio 2005 and 2003 software development tools and the SQL Server 2005 database. The Digipede Framework SDK includes support for .NET 1.1, .NET 2.0, and COM, allowing developers to use the familiar Visual Studio environment to produce high-performance distributed applications.
In addition to the new Developer Edition, the Digipede Network is available in two other editions: the Digipede Network Team Edition meets the needs of small departments, businesses, and labs that may only have up to 20 computers, while the Digipede Network Professional Edition supports large departments and enterprises with hundreds or thousands of desktops, servers, and cluster nodes across a network. All editions include the Digipede Workbench, which is designed to shorten the learning curve so that users can become productive immediately.
Availability and Pricing
The Digipede Network is available directly from Digipede Technologies. The new Digipede Network Developer Edition is free to software developers and comes with licensing for one Digipede Server and two Digipede Agents. The Digipede Network Team Edition starts at $995 for a system licensing one Digipede Server and five Digipede Agents...The Digipede Network Professional Edition starts at $4,000 for a similar configuration. Additional Agents can be licensed for $199 each, and may be added to either Team Edition or Professional Edition. Current customers of the Digipede Network Team Edition can upgrade to the Professional Edition at a discount; contact sales@digipede.net for details. Both editions of the Digipede Network include the Digipede Framework SDK at no additional charge. For additional information about pricing and configuration options, visit Digipede's online store at www.digipede.net, or contact Digipede at sales@digipede.net.
About Digipede Technologies
Digipede Technologies is the leading software provider of grid computing solutions for the Microsoft .NET platform. Digipede is led by a proven team of technology visionaries who have developed best-in-class Windows applications for more than 15 years. Digipede is a Microsoft Gold Certified Partner. Headquartered in Oakland, California, Digipede is expanding rapidly. For more information visit: www.digipede.net.
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Open Solutions Hosts Successful Credit Union Member Business Services Forum
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"The Open Solutions Member Business Services Forum exceeded my expectations," said Mathy Hogan, senior vice president, Business Services at FAIRWINDS Credit Union, Orlando, Fla. "Having the opportunity to meet and network with other credit union executives, specifically in the small business/commercial arena, was very informative. In particular, I found the roundtable discussions to be the most beneficial. Listening to multiple credit union perspectives on both small business/commercial lending and deposit strategies as well as how they leverage the Open Solutions system in delivering successful business solutions was highly beneficial. I walked away with not only future business contacts but with contact information from a group of individuals who were willing to share their experiences, something I might not have learned through traditional methods."
"It was a great opportunity to meet other Open Solutions business services users," said Larry Accola, senior vice president, Business Loans and Services, Royal Credit Union, Eau Claire, Wis. "I am looking forward to many more of these mutually beneficial networking opportunities in the future."
Presentations included:
* An Insider's Perspective of the Credit Union Movement at a Crossroads by Dennis Dollar, principle partner, Dollar Associates and former NCUA chairman
* Due Diligence in Business Services Planning by Scott Hodgins, senior director, Cornerstone Advisors
* How to Tiptoe Not Stumble into Business Services by Jeff Stone, EVP, Business Services, Loan Participations, North Island Credit Union
* An Introduction to Commercial Loan Participations by Paul Valdez, SVP and CFO, Texans Credit Union
* One Vendor's Approach by Esther D'Albero, director, Financial Product Management, Open Solutions
* Paths to Business Lending Success by Jay Johnson, EVP, Callahan & Associates
* Roundtable discussion featuring representatives from Bethpage Federal Credit Union, Three Rivers Federal Credit Union, Royal Credit Union and Evangelical Christian Credit Union
"More and more credit unions are interested in offering business services to their member business owners," said Gary Daniel, SVP and general manager, Open Solutions Credit Union Group. "Small businesses represent a significant growth opportunity for credit unions, and as their business partner, Open Solutions is working to offer knowledge and technology tools to best support these efforts. Open Solutions organized this two-day business meeting for credit union executives to interact with each other, industry experts and our staff to share experiences and best practices. The informative sessions, roundtables and networking opportunities provided an excellent environment in which to exchange ideas and solve problems."
Due the success of the first Member Business Services Forum, Open Solutions plans to offer additional forums throughout the remainder of 2006.
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response, network services, Web hosting and design, and payment and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States and Canada to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.
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AutoOne Insurance Selects Duck Creek Technologies' EXAMPLE Platform
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Duck Creek Technologies, Inc., a provider of rating and policy administration software for the insurance industry, announced that AutoOne Insurance, a part of the OneBeacon Insurance Group, has selected Duck Creek's EXAMPLE Platformr as the rating solution for the insurer's Personal Automobile line of business.
AutoOne initiated their search for a new rating solution in order to achieve greater product design flexibility and rapid speed-to-market. After an extensive market review, AutoOne narrowed their choice to Duck Creek's EXAMPLE Platform rating solution and opted to take advantage of Duck Creek's offer of a Proof of Concept (POC).
As part of the one and one-half month POC effort, AutoOne provided rating specifications, test cases and XML structure samples for Duck Creek's review and implementation. With the EXAMPLE Platform's extensive flexibility, Duck Creek was able to rapidly create AutoOne's Personal Auto product definition using the EXAMPLE Platform's product development tool, EXAMPLE Authorr. After one and a half days of basic training on the EXAMPLE Platform, AutoOne was proficient enough on the system to make its own modifications, adequately test the system and add functionality as needed to fully evaluate the EXAMPLE Platform.
Due to the success of the POC project, AutoOne has committed to full implementation of Duck Creek's EXAMPLE Platform for rating for their Personal Automobile product.
When asked why AutoOne selected Duck Creek Technologies, Senior Vice President of AutoOne Insurance, Phil Gibson noted, "Their comprehensive rating software package allows us to decrease the amount of time needed to implement rate changes. By lessening the time to implement rate changes, AutoOne increases response time necessary for the ever-changing auto insurance market."
"We are pleased to welcome AutoOne to our growing list of clients and thank them for selecting our EXAMPLE Platform," commented Wendy Corman, Duck Creek's Business Development Officer. "When carriers are considering our solution, we encourage them to take the time and effort for a Proof of Concept. The process has consistently proven to be a tremendous tool to allow carrier's to fully evaluate our solution with their specific product requirements. We look forward to continuing to work with AutoOne in enhancing their product development and maintenance efforts, as well as improving their time to market."
About AutoOne Insurance
AutoOne Insurance is a division of the OneBeacon Insurance Group, rated A (Excellent) by A.M. Best. AutoOne Insurance is based in Melville, New York and is a country-wide provider of Assigned Risk services for automobile insurance companies. AutoOne also offers voluntary automobile products such as Private Passenger Auto, and Take-out programs to qualified New York drivers.
OneBeacon Insurance Group is wholly owned by White Mountains Insurance Group, Ltd. of Hamilton, Bermuda. White Mountains' principal businesses are conducted through its subsidiaries and affiliates in the business of property-casualty insurance and reinsurance. The company is publicly traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol "WTM." For more information, visit: www.AutoOneIns.com.
About Duck Creek Technologies
Duck Creek Technologies is a software and services company that is changing the rules of the insurance business. Its EXAMPLE Platformr enables insurance carriers to rapidly define, develop, deploy, and manage their insurance products and services - for any line of business. The Platform's flexible Service-Oriented Architecture is currently being used by Duck Creek's customers for product definition, rating and underwriting, submission processing, policy administration and legacy migration.
Duck Creek was named by Inc. Magazine as one of America's fastest growing private companies, ranking #63 in their 2005 Inc. 500 list. The company was founded in January 2000 and has offices in Bolivar, Missouri, and Farmington, Connecticut. Duck Creek Technologies is a Microsoft Gold Certified Partner.
For more information, visit www.duckcreektech.com or call 800-889-8401.
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Global IQX Announces IQX Secure
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A new solution from Global IQX, a specialist in component-based sales and service solutions for group benefits carriers, will enable insurance carriers handling large amounts of data to import and export it securely. A patent is pending on the innovation developed by the company's Chief Architect Yufeng Chen and President & CEO Michael de Waal.
IQX Secure is one of components of IQX Platform enabling the processing and management of:
* Large and sensitive data compression/decompression and/or encryption/decryption allowing the exchange of data through the network with high performance and stability.
* Large and sensitive data compression/decompression and/or encryption/decryption allowing the exchange of data between web server(s), business application server(s) and database server(s).
* Account information including user passwords.
IQX Platform teamed with the IQX Secure component is well suited to the requirements of very large benefit groups enabling high performance during the entire process of group benefit insurance: quoting, rating, enrollment, renewal and channel distribution.
This new component provides a broad scope for data handling and exchange. For instance, carriers will be able to quickly and securely import and export large amounts of data including census data and data from other vendors through the internet connection; benefiting from high performance and low cost.
"We are very excited about this new offering," says Michael de Waal Global IQX Founder, President and CEO. "It was developed in response to the requirements of the employee benefits market where there is a pressing need for straight through processing for very large benefit groups."
About Global IQX, Inc.
Global IQX, www.globaliqx.com, established in 1999, specializes in configurable, component-based sales and services automation solutions that streamline and optimize business processes for North American group benefits insurance organizations. Offered as a complete suite or individually, these solutions automate rating, underwriting, renewal and enrollment supporting all lines and market segments. Global IQX production proven solutions increase operational efficiency and reduce cost while promoting improved communication and interaction within and across departments. Developed and delivered by a team with group insurance depth and experience, these solutions give business users more control, with less dependence on IT resources. Clients include many of North America's largest insurance companies.
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Insurity and Microsoft Align to Advance Insurance Software and Services
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Insurity, a ChoicePointr (NYSE: CPS) company, and Microsoft announced a multiyear strategic alliance to more closely align future software development, along with joint marketing and sales activities globally.
The partnership will accelerate the pace of business-process innovation by combining Insurity's industry-leading Insurance Decisions solutions and services with the latest Microsoft technology, including the Microsoft .NET Framework and Windows Server System.
Insurers, third party administrators and managing general agencies will benefit from the alliance through the combination of Insurity's industry-technology expertise powered by a Microsoft platform that increases the strategic value of their existing IT investments, while reducing complexity and cost. About 100 Insurity customers - including many top-20 carriers - are expected to migrate to Insurity's Insurance Decisions platform, based on Microsoft .NET architecture, during the next two years.
"This is about increasing the value of our products and services for our customers," said David Pedersen, Insurity Senior Vice President. "By deepening the relationship between Insurity and Microsoft, we will be able to lead with solutions that combine the strength of our company's industry thought leadership and technology innovation with the latest Microsoft technologies."
"We are thrilled with the formation of this new multiyear strategic alliance," said Kevin S. Kelly, Microsoft managing director, U.S. insurance industry. "Insurity has assets that span the breadth of the value chain, and the company understands the necessity of interoperability. The combination of its thought leadership, technology innovation and commitment to the insurance industry make it an ideal alliance partner."
Microsoft and Insurity software architects will collaborate on designing, building and testing new versions and functions of Insurity's Insurance Decision products. Microsoft will continue to refine its insurance architecture through joint development work with Insurity.
One key area of focus for the partnership will be Insurity's participation in Microsoft's Insurance Value Chain (IVC) initiative, which seeks to source third-party applications that are best-of-breed examples of insurance business processes, provide those partners with a framework for integrating their applications based on Web services and industry standards, and pair and pre-integrate these applications. All this helps reduce millions of dollars of post-purchase integration otherwise experienced by insurance customers.
"The use of .NET has expanded in the insurance industry as insurers realize its value in lowering total cost of ownership and enabling service-oriented architectures," said Matthew Josefowicz, manager of the insurance group at Celent, a leading insurance industry analyst firm. "This new relationship is more evidence of Microsoft's commitment to providing real business solutions to insurers and Insurity's commitment to be a technology leader in the space."
Insurity and Microsoft representatives are exhibiting at the ACORD/LOMA Insurance System Forum in Las Vegas, May 22-24, and at the IASA Educational Conference & Business Show in Boston, June 4-6.
About Insurity
Insurity, a ChoicePoint company, protects insurers from underwriting risks, claims fraud, compliance exposures, escalating expenses and premiums, and unfavorable ratios. Headquartered in Hartford, Conn., Insurity offers Insurance Decisions-the most comprehensive software and services in the property/casualty industry covering rate, quote, issuance, administration, billing, claims, reinsurance, data warehousing, compliance support, regulatory reporting, hosting, and managed services. Customers include more than half of the nation's top 20 commercial lines carriers as well as regional carriers, specialty lines writers and MGAs. For more information about Insurity, please call (860) 616-7721 or visit www.insurity.com.
About ChoicePoint
ChoicePoint (NYSE: CPS) helps businesses, government agencies and nonprofit organizations make better decisions through information and technology solutions. Each year, ChoicePoint helps more than seven million people get the jobs they deserve and more than 100 million people get fairly priced home and auto insurance. Small businesses can obtain affordable commercial insurance because of our products. Businesses grow revenue with our marketing services and cut costs through our authentication and anti-fraud tools. Government agencies use our data and technology to fulfill their missions in all parts of the world. Visit www.choicepoint.com for more information.
About Microsoft
Founded in 1975, Microsoft (NASDAQ "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
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INSTEC Demonstrates Support of Microsoft's Insurance Value Chain
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While the insurance industry has benefited from significant technology innovations in pockets of the insurance process - from the point-of-sale thru reinsurance - it also has often produced a proliferation of disconnected systems. INSTEC, a prominent policy administration software vendor, progressive in its use of technology, announced its support of Microsoft's Insurance Value Chain Architecture Framework (IVCAF) Version 1.0 at the ACORD LOMA 2006 Insurance Systems Forum.
The IVC Architecture Framework promotes integration among best-of-breed software applications through Microsoft .NET Web Services and industry standards. Pre-integrating applications has the potential to reduce millions of dollars of post-purchase integration pain on the part of insurance customers. INSTEC participated with two other IVC vendors, Insuresoft and XDTI, to demonstrate complete automation from an agent's submission through back-office billing and claims. This integration takes advantage of XDTI's agency management, INSTEC's rating and policy printing, and Insuresoft's policy administration. The Microsoft-based technology and architecture of these products allowed for exercising the strengths and uniqueness of each.
Ray Simon, President of INSTEC, comments "We're proud to be participating at the forefront of Microsoft's IVC lab scenarios. This initiative provides the momentum needed within the insurance industry to promote greater rigor in standardizing how software applications communicate to fulfill the insurance value chain. INSTEC has had numerous experiences in participating in integrations with customers and sees strong value in working towards pre-sales integration. Insurance companies will have demonstrably better ROI on their purchases - both hard costs and faster deployments of the software. Vendors can concentrate more of their staff on enhancing their products to ultimately improve their client's insurance experience rather than implementing one-off integrations."
"The IVC integrations labs are where new composite-applications are being built utilizing Web Services," said Kevin S. Kelly, managing director, U.S. insurance industry at Microsoft. "INSTEC's early contributions to the design and development of both the labs and the IVCAF is exemplary and makes the company a pioneer in helping our industry escape a legacy past filled with yesterday's business processes and migrate toward a services-oriented future."
About INSTEC
Founded in 1982, INSTEC provides carriers and MGAs with comprehensive policy administration software designed for the dynamic nature of Commercial Lines. As a Microsoft Gold Certified Partner, INSTEC continues to demonstrate their expertise in Microsoft technologies and their commitment to deliver insurance software solutions that meet the high standards expected from software products developed for Microsoft platforms, including .NET.
For more information on INSTEC products and services, please call 630.955.9200 or visit our website at www.instec-corp.com
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Insurity Names Brown as Marketing VP
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Experienced in strategic planning, operations management and process improvement, Brown was formerly vice president, database marketing and global lead management, at Gartner, Inc. He previously held executive positions with Broadreach Partners and Pitney Bowes.
"Scott is a talented, energetic marketing executive who will play a key role in developing and implementing our ambitious growth strategy," said Insurity Senior Vice President Dave Pedersen.
Brown received an M.B.A. with a marketing concentration from the University of Connecticut and a bachelor's degree from Connecticut College.
Insurity has grown to employ more than 400 technology and insurance experts in Connecticut, New York state, and Minnesota.
About Insurity
Insurity, a ChoicePointr company, protects insurers from underwriting risks, claims fraud, compliance exposures, escalating expenses and premiums and unfavorable ratios. Headquartered in Hartford, Conn., Insurity offers Insurance Decisions - the most comprehensive software and services in the property/casualty industry covering rate, quote, issuance, administration, billing, claims, reinsurance, data warehousing, compliance support, regulatory reporting, hosting and managed services. Customers include more than half of the nation's top 20 commercial lines carriers, as well as regional carriers, specialty lines writers and MGAs. For more information about Insurity, please call 860-616-7721 or visit www.insurity.com.
About ChoicePoint
ChoicePoint (NYSE: CPS) helps businesses, government agencies and nonprofit organizations make better decisions through information and technology solutions. Each year, ChoicePoint helps more than seven million people get the jobs they deserve and more than 100 million people get fairly priced home and auto insurance. Small businesses can obtain affordable commercial insurance because of our products. Businesses grow revenue with our marketing services and cut costs through our authentication and anti-fraud tools. Government agencies use our data and technology to fulfill their missions in all parts of the world. Visit www.choicepoint.com for more information.
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Fincentric Launches Customer Support WEB to Provide Flexible High Quality Service
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"Our Customer Support WEB is targeted at Fincentric customers with support and maintenance contracts who will now be able to monitor their support requests and obtain up-to-date information anytime, anywhere," said James Dicks, Fincentric's Customer Service Director. "It gives me great pleasure to introduce this new service which will improve the value of support services offered to Fincentric customers and provide customers with a central location for access to technical information & support tools."
Fincentric's Customer Support Web is an easy to use service available to customers 24 hours a day. The portal includes a searchable knowledge-base which gives customers a better understanding of current issues and a wealth of product documentation and technical whitepapers surrounding common issues and solutions.
Customers can also find out what other Fincentric users are asking by browsing a comprehensive list of common questions in order to find the answers they need quickly. The service also allows customers to:
-Create reports on incidents status on demand
-Maintain up-to-date information on user profile
-View product advisories & bulletins
Fincentric offers a wide variety of Customer Support services to ensure its software solutions meet customers' needs. Its Customer Support team handles questions on the use, configuration and functionality of all our products. In addition, Fincentric's support team helps identify software issues, develop creative solutions, and document enhancement requests for consideration in future product releases.
For assistance or for more information about Fincentric's Customer Support team and services, please contact us:
Telephone: Local & International calls: 604.273.9565, Toll Free within Canada and United States: 1.800.667.6771
E-mail: support@fincentric.com
About Fincentric Corporation
Fincentric Corporation is a leading provider of core retail banking and customer value management software to the global financial services industry. Fincentric's Wealthview family of integrated products enables financial institutions to leverage customer knowledge to deliver personalized service and product offers, and develop profitable customer relationships. Fincentric has strategic alliances with TELUS, Microsoft and Intel, and supports financial institutions in over 20 countries. For more information about Fincentric, please visit www.fincentric.com.
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Hedge Funds Now Spend $10 Billion on Prime Brokerage, $1 Billion on Data and $500 Million on SEC Registration as Expansion to New Markets Continues
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According to TABB Group's second annual study on hedge funds, "Hedge Funds 2006: The Quest for Alpha in a Competitive World," spending on prime brokerage has risen to $10 billion while investments in market data and technology exceed $1 billion. In addition, to register with the Securities and Exchange Commission and meet new regulatory requirements, funds have spent more than $500 million over the past five years, far exceeding the $113 million the SEC estimated it would cost the industry.
The search for alpha, explains Adam Sussman, senior consultant at TABB Group, who with research analyst Matt Simon co-authored the report, drives funds' increased expenditures on highly specialized forms of data, independent research and access to company management and expert networks. As the U.S. markets become overcrowded and the global economy continues to glow, hedge funds are showering investments around the globe. "The bigger driver is the notion that complexity creates inefficiency," writes Sussman, "and within inefficiency lies alpha. The manager who can cut through language and cultural barriers, local regulations and disparate accounting conventions will be able to locate good ideas on a global basis."
Meanwhile, notes Simon, two-thirds of the funds are planning to expand into other areas over the next two years, up from 41% that broadened their exposure over the last two years. "Driving the exploration into new markets are changes in the macroeconomic picture, including the rapid growth of Asian economies and the tightening of interest rates," he says. "The perception is that the U.S. markets are overcrowded, with too much cash and not enough opportunities." This expansion increases reliance on prime brokers for instruments such as margin, security lending and OTC derivatives, technology - trading platforms, reporting packages and basic risk management software - and back office-related services, including custody, clearing and settlement. As a result, the average U.S. hedge fund, including offshore clones, will spend $4 million in 2006 ($10 billion industry-wide), with a huge portion of spending coming from funds with over $1 billion AuM
Additional findings include:
· TABB Group estimates total spending in the U.S. by hedge funds on data at an average of $432,000 per annum per fund, allocating as well significant amounts to market data terminals, historical databases, low-latency, real-time data feeds and national and industry publication subscriptions.
· Nearly 30% of funds are planning improvements in front-office technology by 2007.
· Hedge funds with six or more relationships are consolidating most of their business with fewer prime brokers while nearly half are considering adding or switching to a new broker.
· While nearly 50% were not concerned with SEC registration, those that were spent between $64,000 and $374,000 on the registration process, largely dependent on the size of the fund, well above the SEC estimate of $45,000.
· Hedge funds expect overall assets from pension plans to climb from 15% in 2006 to 19% in 2008.
· TABB Group also expects advanced electronic trading to pick up in other liquid issues, such as exchange-traded equity derivatives, US Treasuries, certain corporate bonds and major foreign exchange pairs.
The 2006 report analyzes data drawn from in-depth conversations from January to March 2006 with managers and traders at 81 U.S.-based hedge funds, with a combined $89 billion AuM, representing 15% of the total U.S.-based hedge fund assets. Funds were segmented by AuM under $100 million, between $100 million and $1 billion and more than $1 billion. Compared to TABB Group's 2005 report surveying 63 funds, the 2006 report is more comprehensive, covering sources of inflows, asset allocation, trading and trading technology, prime broker services, idea generation, data and research usage and broker relationships.
The Hedge Funds 2006 report is available now for purchase. The report and a complimentary copy of the executive summary can be found at www.tabbgroup.com/research.
About TABB Group
TABB Group is a Financial Markets advisory and thought leadership firm. Focusing on the intersection of the financial markets and technology, TABB Group has produced major studies on the future of trading technologies, the impact of the market structure changes on the use of real-time technologies. TABB Group members are regularly cited in the press and speak at industry conferences. For more information about TABB Group, go to www.tabbgroup.com.
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Open Solutions to Present at Three Investor Conferences in May
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* D.A. Davidson Financial Services Conference on Wed., May 10, 2006
* JPMorgan Technology Conference on Mon., May 22, 2006
* FBR Growth Investor Conference on Wed., May 31, 2006.
Open Solutions' executive management will present at the D.A. Davidson Financial Services Conference in Seattle, Wash. on Wed., May 10, 2006, at 8:45 a.m. Pacific Time; the JPMorgan Technology Conference in San Francisco, Calif. on Mon., May 22, 2006, at 1:40 p.m. Pacific Time; and the FBR Growth Investor Conference in New York City on Wed., May 31, 2006, at 3 p.m. Eastern Time.
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracler relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, electronic image/item processing, interactive voice response, network services, Web hosting and design, payment and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts and credit unions in the United States and Canada to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service. For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at 860.652.3153 or via fax at 860.652.3156. For Investor Relations issues please contact David Henderson by email at ir@opensolutions.com or by phone at 860.652.3155. Visit Open Solutions' Internet site at www.opensolutions.com.
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Ruby Digital Attains Gold Certified Partner Status in Microsoft Partner Program
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As a Gold Certified partner, Ruby Digital has demonstrated expertise with Microsoft technologies and proven ability to meet customers' needs. Microsoft Gold Certified Partners receive a rich set of benefits, including early access to technology, training and support, giving them a competitive advantage in the marketplace.
With its comprehensive array of solutions on the Microsoft platform as well as its extended business partnerships in the Wealth Management Industry, Ruby Digital offers its customers a compelling blend of subject matter expertise, technological excellence and breadth of service.
"We are very excited to have attained Gold Certified Partner status in the Microsoft Partner Program," said Dan Galvez, Vice President of Client Services and a Founding Partner of Ruby Digital. "Ruby Digital is committed to providing the highest quality consulting services to our clients. The benefits we gain from the Microsoft Gold Certified Partner program will give Ruby Digital additional tools, insight and resources to better serve our clients."
"Customers are looking for partner companies that can bridge the gap between their business demands and technology capabilities. They need to trust in someone that can act as an expert adviser for their long-term strategic technology plans. Microsoft Gold Certified Partners, which have certified expertise and direct training and support from Microsoft, can build a positive customer experience with our technologies," said Allison Watson, vice president of the Worldwide Partner Sales and Marketing Group at Microsoft Corp. "Today, Microsoft recognizes Ruby Digital as a new Microsoft Gold Certified Partner for demonstrating its expertise in providing customer satisfaction with Microsoft products and technology."
As one of the requirements for attaining Gold Certified Status, Ruby Digital had to declare formal Competencies with Microsoft technology. Microsoft Competencies are designed to help differentiate a partner's capabilities with specific Microsoft technologies to customers looking for a particular type of solution. Each competency has a unique set of requirements and benefits, formulated to accurately represent the specific skills and services that partners bring to the technology industry.
About Ruby Digital
Ruby Digital delivers customized systems that enable financial firms to enhance their capabilities in wealth and asset management.
Ruby Digital delivers tailor-made technology-based solutions that increase efficiency while maximizing accuracy. With experience in Research Report generation, end-to-end account opening and proposal generation, Ruby's solutions and services allow for the enhancement of accuracy and management of data.
Ruby Digital serves all aspects of the Wealth Management Industry throughout the United States.
About the Microsoft Partner Program
The Microsoft Partner Program was launched in December 2003 and represents Microsoft's ongoing commitment to the success of partners worldwide. The program offers a single, integrated partnering framework that recognizes partner expertise, rewards the total impact that partners have in the technology marketplace and delivers more value to help partners' businesses be successful.
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Mizuho Securities USA selects TAPMaster for corporate reference data
management
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MSUSA will use the TAPMaster product to acquire, standardize, and deploy
market and reference data from a variety of sources including Bloomberg's
Data License, FT Interactive Data's FTS, Reuters' DataScope, as well as
Reuters Estimates and Fundamentals (formerly Multex) data feeds. MSUSA will
use TAPMaster to support its operations, covering equities, fixed income,
and futures products.
"We looked carefully at the market and found TAPMaster offers more
flexibility, faster time to market, and a much higher return on investment
than any other product available," says Sandy Kapoor, Mizuho's Director and
CTO. "Mizuho Securities USA has some aggressive operational timelines to
meet, and we believe TAP is the only product that can help us achieve them,
while also providing a strategic platform for growth."
The deal also includes the purchase of several additional data management
modules from TAP, including Editor, Consolidator, and OnDemand API products,
as well as plug-and-play connectors to integrate TAPMaster directly to both
in-house and external ASP downstream business systems. The first
installation will be up and running in weeks, with full end-to-end
integration expected within six months, a timeline that matches MSUSA's
aggressive targets for maximizing growth opportunities.
"By selecting TAPMaster, Mizuho has demonstrated tremendous trust in the
capabilities of our product," says Simon Blyth, TAP's EVP Sales & Alliances.
"We at TAP are very excited to be working with such a progressive and
dynamic team and look forward to helping Mizuho achieve a very fast return
on their investment."
About Mizuho Securities USA Inc.
MSUSA is a member of the Mizuho Financial Group, a leading multinational
financial services group that was formed by the September 2000 combination
of The Dai-Ichi Kangyo Bank, Ltd., The Fuji Bank, Ltd. and The Industrial
Bank of Japan, Ltd. In its core business areas of fixed income, equity, and
futures, MSUSA makes use of quality personnel and cutting-edge technology to
provide high value-added products and services, and engages in global
activities as a leading professional house that can compete with the top
firms of the United States and Europe. MSUSA's parent, Mizuho Securities
Co., Ltd. (Tokyo) provides its corporate clients with strategic and
financial advice on corporate mergers, spin-offs, acquisitions,
divestitures, business tie-ups, and financial strategy as well as corporate
restructuring, the disposal of non-performing loans, and bankruptcy
disposal.
About TAP Solutions
TAP provides turnkey high performance software tools for the acquisition,
management, and deployment of market and reference data in capital markets.
TAPMaster is a complete data management platform that helps financial
services clients reduce operating costs, meet regulatory requirements, and
generate new sources of revenue. www.tapsolutions.com.
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