Volante Technologies says that ICI/ADP, the fixed income trading technology division of ADP, will use its data management application for SSWIFT messaging.
Volante says ICI/ADP is focusing on connectivity for competitive reasons, and that the firm was chosen from a field of five contenders after a rigorous selection process, which included a review of long-term requirements for data and complex message management.
The initial use of the product will be to provide an automated wire transfer capability to ICI/ADP’s impact system via SWIFT messages. But Volante says its products are applicable to payments, corporate actions, market data and trade processing as well.
“Volante’s model-driven approach to building messaging applications is unique and will help in rolling out our messaging applications in record time. Volante’s technology and staff expertise were compelling,” says Doug Politi, Senior Vice President and General Manager, ICI/ADP. “The product suite works well in our existing infrastructure which allowed us to quickly make the product available to our development team. We anticipate using Volante in several projects involving data and complex message management as we rise to meet the challenges of an expanding marketplace. We see Volante as a key addition to our capabilities, assisting us to deliver a more robust product, taking advantage of message protocol standardization around ISO 15022, SWIFT, and FIX 4.3 and 4.4. Over time these standards will become the basis for significantly improved interoperability and we want to be well positioned to leverage these open standards to provide our clients with more comprehensive and integrated STP solutions.”
“There were three key concepts on which we based our decision: time to market is a huge advantage for our customers, ease of development will drive our costs down, and leveraging third-party maintenance allows us to remain focused on our product. By using Volante, we will be able to deliver new solutions to our clients in less time and at lower development costs”, adds Ron LaRock, Vice President, Product Development for ICI/ADP.
“ICI/ADP’s selection of Volante demonstrates that there is a strong need for a product that leverages existing infrastructure investments and facilitates rapid integration with trading partners and data providers,” claims Vijay Oddiraju, Chairman and founder of Volante Technologies Inc. “ICI/ADP’s selection also validates both the uniqueness of our products and the substantial business benefits we bring to our customers.”
Founded in 2001, Volante Technologies, Inc. is based in New York and California. Customers include Brown Brothers Harriman, The Municipal Securities Rulemaking Board, Vestmark, and The Vanguard Group. Current partners include Financial Technologies International (FTI), Microsoft and Sun.