Operations Newsflashes: SWIFT and NYFIX Agree to Reduce Rates in Asia Pacific, and more

SWIFT Extends Its Partnership With NYFIX, Reduces Rates SWIFT reached an agreement with NYFIX to offer a reduced rate on the Appia FIX engine to all participants of the SWIFTNet FIX and NYFIX Networks program in the Asian Pacific territory.

Both parties have committed to increase the penetration of FIX within the financial industry and believe that this offer brings the industry closer to electronic trading. By reaching this agreement, SWIFT and NYFIX, a FIX engine provider, expect to lower the costs in the pre-trade/trade space, according to the release.

"SWIFT is constantly trying to help the securities industry realize the benefits of automation through electronic trading," said Marcus Consolini, global head of sales for SWIFTNet FIX, in a release. "By completing such agreements SWIFT is able to help our members lower the overall costs of implementing a FIX solution and thus come closer to making the whole life cycle of the trade electronic."

Wachovia Chooses Exstream's Dialogue for Document Building

Wachovia Corp. has selected Dialogue software from Exstream Software to provide an enterprise infrastructure for building and deploying its personalized print/mail document applications. Using Dialogue, Wachovia plans to design, produce, maintain and deliver customized customer communications that clarify investment performance, encourage financial planning and reflect the client relationship -- while meeting business requirements for speed to market, cost effectiveness and flexibility.

"Dialogue provides a powerful infrastructure that helps leading financial organizations differentiate themselves in a competitive marketplace," said Brent Burns, vice president of Exstream's financial services practice, in a release. "It is a pleasure to work with Wachovia Corporation because it is a company that truly understands the inherent rewards of implementing an enterprise personalization solution for the benefit of its customers."

Charles Schwab Purchases Learning Management Solution From SumTotal

Charles Schwab & Co. has purchased SumTotal Systems' LMS 7.1, an enterprise platform solution for analyzing, storing and delivering learning materials. Schwab will use the software, among other things, to instruct 14,000 employees on job skills as well as compliance and regulatory issues.

"SumTotal will enable us to align training with our corporate strategy and business goals to generate bottom-line results," said Chip Luman, senior vice president of Shared Services, Compensation and Benefits at Charles Schwab, in a release.

According to SumTotal, financial organizations use its solution to reduce not only the time it takes to develop a workforce, but also the costs associated with learning and development. SumTotal says its products also simplify regulatory compliance audits. Financial institutions have also tapped the technology to streamline the delivery of strategic messages linked to mergers and acquisitions, corporate restructurings, and new products and services.