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TIBCO Software Anounces Real-Time Trade Management Solution for the Financial Services Industry

Improves Information Flow, Increases Efficiencies, And Reduces Costs Associated With Cross–Border Trading And T+1 Compliance

PALO ALTO, CA, March 13, 2002 - TIBCO Software Inc. (Nasdaq: TIBX) today announced TIBCO™ Real-Time Trade Management for Financial Services, an end-to-end integration and business process management (BPM) solution for the financial services industry. The new solution, designed to support the Global Straight Through Processing Association (GSTPA) and T+1 (trade date plus one day) initiatives, manages complex, mission-critical, high transaction volume business processes.

TIBCO Real-Time Trade Management enables management of domestic and cross border trading and takes straight through processing (STP) integration to the next level, automating and streamlining trades to improve trade lifecycle management operations and increase efficiencies, while providing faster time-to-market, lower operational costs, and reduced risk. TIBCO Real-Time Trade Management is designed for companies belonging to the GSTPA, an industry association open to all investment managers, broker/dealers and global custodians involved in the processing of cross-border trades.

Financial services institutions face challenges in mitigating the risk of market exposure and default caused by rapidly growing trade volumes. The most pressing challenge for the financial services industry is the Securities and Exchange Commission (SEC) mandated compliance of T+1, a move to shorten trade settlement periods to trade plus one day, by June 2005. To achieve T+1, financial institutions must adopt an STP solution, a key prerequisite to operating in compressed cycle times. According to surveys taken by industry analysts and the Securities Industry Association (SIA), STP is the top technology priority for U.S. broker/dealers for the next two to three years.

As the industry moves toward settlements of T+1, TIBCO Real-Time Trade Management provides a solution that easily and cost effectively meets the technological demands necessary to achieve T+1 status by changing the dynamics of the information flows associated with cross-border transactions. Based on a combination of industry-leading technology and a strong history in the financial services industry, TIBCO is uniquely positioned to deliver a comprehensive end-to-end solution for the GSTPA and its members.

"The TIBCO Real-Time Trade Management solution provides a level of functionality that helps brokers/dealers increase efficiencies, maximize capital and reduce operating expenses as they move to T+1 compliance, and beyond," said Jürgen Marziniak, chief executive officer of the Global Straight Through Processing Association. "TIBCO has a long history and strong reputation of quality service within the financial services industry. They understand the business, the demands and the objectives the industry demands."

About TIBCO Real-Time Trade Management for Financial Services

The TIBCO Real-Time Trade Management solution accelerates the flow of cross-border trade information, helps reduce the number of failed cross-border trades, helps reduce the risks and costs of cross border trade settlement, and brings firms from T+3 to T+1 compliance efficiently and effectively.

The TIBCO Real-Time Trade Management solution:

  • Provides connectivity to the GSTPA's Virtual Matching Utility also know as the Transaction Flow Manager with an out-of-the-box Axion 4 Gateway interface
  • Manages timeouts, number of trades outstanding, and service quality on a per-counterparty basis
  • Allows customers to view trades and settlement progress
  • Organizes dozens of possible trade failures from TFM in a logical way and helps organize responses
  • Enables routing of failed trades through the firm for repair and reintroduction
  • Provides an integration and BPM platform that enables connections to back-end systems to monitor and manage such operations as trades, risk management, surveillance, and accounting.

"The GSTPA is working to improve the overall structure of information flow for the financial services industry and with the TIBCO Real-Time Trade Management solution, we act as an enabler for this goal," said Murat Sonmez, senior vice president of marketing for TIBCO Software Inc. "The introduction of this solution is indicative of TIBCO's leadership within the financial services industry and further illustrates our commitment to the health and growth of the industry."

About TIBCO Software Inc.

TIBCO Software Inc. (NASDAQ:TIBX) is a leading provider of total business integration solutions delivering infrastructure software that enables businesses to seamlessly integrate business systems in real-time. TIBCO technology was first used to digitize Wall Street and has since been adopted in diverse industries including financial services, telecommunications, electronic commerce, transportation, logistics, manufacturing and energy. TIBCO's global customer base includes 1,400 customers such as NEC, Dynegy, SWIFT, BP, eBay, US Bank, The Limited, Delta Air Lines, Philips, AT&T, Pirelli, Yahoo! and Cisco Systems. Headquartered in Palo Alto, California, TIBCO can be reached at 650-846-1000 or on the web at www.tibco.com.

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TIBCO, the TIBCO logo, The Power of Now and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.

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Legal Notice Regarding Forward-Looking Statements: This release contains forward-looking statements regarding TIBCO's business, customers, markets served or other factors including the ability of products to meet customers' expectations, needs, or perform as described that may affect future earnings or financial results. Our actual results could differ materially from such forward-looking statements. Reasons for why actual results could differ materially include if the products are unable to successfully meet customers' expectations, needs, or perform as described. Additional information concerning factors that could cause our actual results to differ materially from those contained in the forward-looking statements can be found in TIBCO Software's filings with the Securities and Exchange Commission ("SEC"), including but not limited to its most recent reports on Forms 10-Q and 10-K filed with the SEC on October 5, 2001 and January 30, 2002, respectively, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements including limited independent operating history, history of losses, unpredictability of future revenue, dependence on a limited number of customers, relationship with Reuters Group PLC, rapid technological and market changes, risks associated with infrastructure software and volatility of stock price. Copies of filings made with the SEC are available through the SEC's electronic data gather analysis and retrieval system (EDGAR) at www.sec.gov. TIBCO assumes no obligation to update the forward-looking statements included in this document.