InstiTrade Prototype Meets T+1 Mandate
NEW YORK, Oct. 23 /PRNewswire/ -- Passport Corporation, a leading provider
of enterprise-class software solutions to major corporate clients in the
financial services industries, today announces it was honored with the Best
Overall Application Award at the recently held "Java Developer's Journal J2SE
for Handhelds Developer Contest." Passport's InstiTrade prototype, a wireless
solution designed to help institutional stock trading companies meet the T+1
regulatory mandate, took home the honor and will be on display at the
Financial Technology Conference and Expo, October 23-25, at the Jacob K.
Javits Convention Center in New York.
Passport InstiTrade enables users to interactively perform stock trades
with one another using small wireless handheld devices -- including an iPAQ
running the SavaJe XE operating system, which was a requirement of the Java
Developer's competition. Developers were challenged with building Java(TM) 2
Platform, Standard Edition (J2SE(TM)) applications specifically for the Compaq
iPAQ, powered by the new SavaJe XE(TM) operating system.
Utilizing the prototype, all trades are simulated but are logged both
locally on the client and remotely on the application server. Users
simultaneously enter or respond to simulated stock trade offers directed to
other individual simulated traders (peer-to-peer) or to the 'trading floor'
(all connected or potentially connected 'traders') as a whole (publish and
subscribe). All transactions are recorded and logged instantaneously onto the
application server allowing for reduced processing time and increased trade
accuracy, both reducing costs while simultaneously acting to help meet the SEC
T+1 mandate.
"Since 1990, Passport has been providing highly scalable, secure and
robust enterprise and field force automation solutions to the financial
services industry. We felt the time was right to develop a solution for the
trading market, especially as businesses explore and embrace the many economic
benefits of wireless access to fully interactive, critical business
applications," said Alan Tonnessen, President and CEO of Passport Corporation.
"We are thrilled that our application was selected by the Java developers
and confident that the solution may be valuable to trading organizations as
they look to enhance productivity, reduce costs, and increase the return of
their daily activities. We look forward to offering this technology to
trading firms and developing other wireless and mobile solutions that will
further empower real-time business in the financial services industry."
The InstiTrade application leverages Passport's GUI Server, an
interactive, server-based user interface technology designed to enhance remote
and onsite access to business applications. The GUI Server, along with all of
Passport's solutions, is uniquely optimized to run simultaneously over
narrowband wired or wireless networks, or wideband LAN/WAN networks with no
compromise in speed, performance or security.
Passport will be demonstrating the InstiTrade prototype at Booth 234 at
the Financial Technology Conference and Expo, October 23-25, at the Jacob K.
Javits Convention Center in New York.
About Passport's Solutions
Passport's solutions have enabled such leading companies as AT&T/TCG,
Lucent Technologies, Exxon/Mobil, John Hancock, Dupont, General Electric,
Paine Webber, Standard & Poor's and American Airlines to streamline business
processes, enhance operational efficiency, optimize and manage network
resources, eliminate redundancies, and improve service times. These clients
have implemented Passport's state-of-the-art solutions in global projects that
involved thousands of users and millions of transactions and were a part of
mission-critical systems that required extensive integration and
interoperability with other existing systems and technologies.
Underlying all of Passport's products is their high performance, scalable
Enterprise Integration Architecture (EIA). Passport has developed its own
application server framework, which is fully integrated with its EIA to yield
a single technology and methodology that has been touted by industry analysts
including IDC, Gartner Group and Hurwitz Group as being best in its class.
Passport's application framework delivers a completely Web Interactive(TM),
Microsoft(R)-style graphical user interface (GUI) over the Internet and
wireless devices using ultra-lite client Java technology. This ultra-lite
technology provides LAN-like performance from today's narrowband dial-up or
wireless network connections.
About Passport Corporation
Passport Corporation is a leading provider of enterprise-class solutions
focusing on the telecommunications and financial industries. Its solutions
include very large-scale, mission critical applications designed to be
concurrently deployable across the Internet, wireless, and traditional
client/server networks. Since 1990, Passport has utilized proven application
server framework and technology architecture to develop, deploy and integrate
highly scalable, secure, robust and flexible solutions for customers worldwide
in extremely short timeframes. Headquartered in Paramus, NJ, the company also
has offices in Iselin, NJ, Philadelphia, PA and Washington DC.
Additional information may be obtained by contacting Passport at
(800) 926-6736 or by visiting http://www.passportcorp.com.
Passport and Passport Wireless are trademarks of Passport Corporation.
All other company and product names are trademarks of their respective
companies.
SOURCE Passport Corporation
 back to top
Related links:
http://www.passportcorp.com
CONTACT:
George Grabowich of Passport Corporation,
+1-800-926-6736, or ggrabowich@passportcorp.com, or Cynthia
Nelson of Ellipsis Communications, +1-856-273-2600, or
cnelson@ellipsiscommunications.com, for Passport Corporation
|
