02.13.2012

Financial Messaging Systems Evolve

02.13.2012
Terry Flanagan

Number and types of messages continue to proliferate.

Financial messages are increasing in type and number, prompting organizations to implement innovative ways of dealing with them.

“Financial Institutions are looking for highly sophisticated, yet affordable processing solutions that allow them to consolidate all their financial messaging – SWIFT and other networks – under one umbrella,” Valerie Morel, head of marketing at Arkelis, told Markets Media.

Arkelis, a subsidiary of SWIFT, the global provider of secure financial messaging services, provides Advanced Messaging Hub (AMH), a financial messaging solution that focuses on the needs of global financial institutions which have substantial volumes of messages with stringent high-availability and operational requirements.

Financial institutions can deploy Arkelis’ Advanced Messaging Hub (AMH) on Red Hat Enterprise Linux to manage significant volumes of incoming and outgoing messaging traffic more effectively.

The Arkelis AMH solution was previously available with other proprietary software platforms. Red Hat and Arkelis worked together to port the AMH solution to Linux-based Red Hat Enterprise Linux operating system.

Financial institutions are seeking ways to adapt to new standards and services, while minimizing changes to their core infrastructure.

“From a technology perspective, the concept of a messaging hub is beneficial in facilitating these efforts, as it is able to bridge between static back office systems and dynamic outbound channels, thereby offering centralization, cost reduction, and streamlining of messaging processes,” Morel said.

Arkelis focuses on SWIFT’s high volume clients, whose message volumes vary according to the implementation type but can easily go up to 1 million and more messages per day in a SWIFT environment, and a multiple of this for those financial institutions also processing domestic payments traffic over AMH.

Arkelis, a fully-owned SWIFT subsidiary since 2010, plays a major role in SWIFT’s 2015 strategy. “Arkelis has a clearly defined mission to provide enterprise wide messaging solutions and services to SWIFT’s high-volume customers, resulting in a strategic product investments supported by SWIFT,” said Morel.

To help banks to further reduce the cost of their messaging infrastructure, Arkelis and SWIFT are extending the offering to provide Outsourced Messaging Services. This service includes all aspects of a bank’s messaging infrastructure and will holds the SWIFT quality mark and focus on security and resilience.

Firms are extending their middleware—the software that glues applications together—to deal with complexities of cross-border, multi-counterparty transactional products.

Rapid Addition, a provider of FIX and FAST related software solutions, offers its RA-ShortCut line of adapters that plug into Microsoft’s BizTalk middleware platform.

ShortCut for FIX “FIX- enables” BizTalk implementations, allowing them to send and receive FIX messages and to transform and normalize them between other protocols, such as SWIFT, XML and SQL.

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