DSL Software and Cicada Partner to Create Innovative Solutions for Financial Institutions.Business Editors/High-Tech Writers BANGALORE, India--(BUSINESS WIRE)--June 15, 2004 DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary Software Ltd, the Investment Banking Technology & Operations arm of HCL Technologies HCL Technologies is India’s 5th largest [2] and a leading global IT Services companies, providing software-led IT solutions, remote infrastructure management services and BPO. based in Bangalore, today announced an alliance with Cicada cicada (sĭkā`də), large, noise-producing insect of the order Homoptera, with a stout body, a wide, blunt head, protruding eyes, and two pairs of membranous wings. that combines DSL's strength in providing technical and operational solutions to the global banking and financial services industry with Cicada's renowned reference data management expertise and solutions suite. DSL Software has been providing technology solutions to the banking community for over a decade now and brings to the table proven expertise in the investment banking domain and related technologies. This alliance with Cicada is seen as a strategic move towards putting together a comprehensive range of service offerings, to position DSL as an end-to-end service provider in the banking and financial solutions space. Mr. Ram Krishna, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DSL Software Ltd. elaborated that, "This alliance is a certain fit, because we combine our technology and operations expertise with the data management capabilities of Cicada. Both companies have in-depth knowledge of the financial industry which is an added advantage." Emphasizing the point, he termed the alliance, "a right combination by which we want to bring smart operating techniques to our user community". Cicada's innovative solutions have met with high acclaim in international banking circles, and in The Banker Technology Awards for 2004, they won the coveted cov·et v. cov·et·ed, cov·et·ing, cov·ets v.tr. 1. To feel blameworthy desire for (that which is another's). See Synonyms at envy. 2. To wish for longingly. See Synonyms at desire. Reference Data category. Commenting on the partnership, Mr. Gregory Smith, CEO of Cicada said, "We are very pleased at this opportunity to join the respective strengths and expertise of DSL and Cicada to offer a proven, global solution today that is customized to the reference data business requirements of each financial institution." Effective data management is considered core to many challenges in the financial services industry. For instance, Basel II requires financial institutions to be able to correctly "roll-up" credit exposures, which requires very accurate corporate hierarchy and instrument linkage information. Institutions must also maintain reliable counterparty information for compliance with the new risk management and regulatory standards. The alliance between DSL and Cicada will offer a range of outsourced solutions to address these and allied problems confronting the financial services industry today. About DSL Software DSL Software Ltd. (www.dslsoft.net) is a subsidiary of HCL Technologies Ltd., one of India's largest IT Services organizations with over 14,700 people providing solutions spanning IT services, BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra and Infrastructure management services to clients worldwide. DSL Software, an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001/2000 and CMM (Capability Maturity Model) A process developed by SEI in 1986 to help improve, over time, the application of an organization's supporting software technologies. Level 5 certified company, is a 2000+ strong unit focused on Investment Banking Technology and Operations. DSL's Operations Division is BS 7799 Certified. Our clients include the world's leading Investment Banking organizations. Our service portfolio covers Research, Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. , Trading and Brokerage in Equities, Debt securities, Foreign Exchange, Money Markets, Derivatives, Futures and Options. About Cicada Cicada (www.cicadacorp.com) provides advanced, real-time market data management and distribution technology for exchanges, financial institutions and data vendors. In addition, Cicada provides end-to-end data validation and cleansing services to support the information quality and integration requirements of risk management, trading, back office and other critical applications. In a comprehensive approach, the company incorporates its Cicada Composer(R) plus+ technology, for data acquisition, processing, automated validation and integration, together with the services of its Data Quality Management group, which provides research, manual intervention and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services including customer care, for an end-to-end solution. The company provides a range of operational models, including business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in , software licensing and custom service combinations. |
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