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Postbank AG Speeds MiFID Compliance with TIBCO SOA
MUNICH, GERMANY, April 07, 2008 - TIBCO Software Inc. (NASDAQ: TIBX) today announced that by adopting its integration and messaging solutions, Postbank AG has implemented EU guidelines set by MiFID (Markets in Financial Instruments Directive), in just six weeks.
"Thanks to TIBCO Software's pre-defined tools, we are able to map trading processes much quicker than would be possible with traditional methods such as SQL. This enabled us to implement MiFID requirements in the record time of just six weeks, giving us a competitive head start," said Dr. Michael Schlosser, Head of Group Client Execution at Postbank AG.
After an extensive evaluation process, Postbank Systems selected TIBCO ActiveMatrix BusinessWorks™ and TIBCO Rendezvous®. TIBCO's SOA and messaging software now form the core of the fully-integrated, fast, reliable and high-performance proprietary trading platform. Postbank Systems has now linked fifteen different solutions including risk management, propriety trading and pricing, both with each other and with worldwide trading systems via the TIBCO infrastructure. Media disruptions between the systems are a thing of the past, and through these optimised trading processes and the automation of manual tasks, Postbank is enjoying increased efficiency and a reduced risk of error.
"Postbank's MiFID project is an excellent example of the added value that our standards-based infrastructure for integration, SOA and messaging can offer financial service providers. This infrastructure not only fulfils company requirements in relation to increased process efficiency, transparency and flexibility, but it also meets compliance regulations," said Murat Sönmez, executive vice president of Global Field Operations at TIBCO. "The IT landscape for securities trading at Postbank achieves such high levels of quality, performance and profitability that the company is able to work towards the real-time business model and is obtaining a competitive advantage as a result."
About Postbank
The Postbank Group has 14.5 million customers, approximately 21,000 employees and total assets worth EUR 203 billion, making it one of the largest financial service providers in Germany. Its main focus is retail business with private customers. Alongside this, Postbank also actively deals with corporate clients. In its "Transaction Banking division," the company manages back-office services for other financial providers. In June 2004, Deutsche Postbank AG was floated on the stock exchange and has been listed on the DAX since September 2006. The majority shareholder is Deutsche Post AG. The growth of the Postbank Group has continued unabated for years. Its earnings before tax rose continuously to EUR 1,004 million in 2007 (2006: 941 million). For further information, please visit http://www.postbank.de
About TIBCO
TIBCO digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now®. TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at www.tibco.com.
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TIBCO, the TIBCO logo, The Power of Now, TIBCO BusinessWorks, 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.
