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Online Brokerages Finally Plugging Holes in the Electronic `Plumbing' Says New Report from Meridien Research.

Business/Technology Editors

NEWTON, Mass.--(BUSINESS WIRE)--July 10, 2001

Brokerage houses' Web sites present a slick facade to investors, but behind the scenes, in their middle and back offices, the technology isn't so gee-whiz. But that's all changing, as retail brokers are focusing more on revamping their middle- and back-office technology, says a new report from Meridien Research.

"Retail brokers realize they have holes in the `plumbing'--that complex set of processes and technologies through which orders flow--of the new economy," says analyst Damon Kovelsky. "The back office is finally getting the attention it deserves." The middle and back offices provide connectivity to exchanges, clearing-and-settlement organizations and custodians.

With streamlining, brokerages will eventually achieve the holy grail of straight-through processing (STP)--fully automated processing once the trade has been initiated. They'll then be able to pass on the savings by lowering commissions to retail customers.

"Although there are some vendors who claim they provide STP, Meridien Research believes that there is no one solution," he writes.

The report covers back-office solutions offered by vendors such as ADP and SunGard, and front- and middle-office solutions provided by Brokat, Kingland and other vendors. It features case studies of Banca IMI, a large Italian bank with a New York branch, and Jiway, Europe's only pure online, retail, cross-border brokerage.

More information about purchasing the report, "Beyond the Java Curtain: Online Retail Brokerages," can be obtained from sales@meridien-research.com or by calling 617-796-2800. A summary and a table of contents are available on www.meridien-research.com

About Meridien Research

Meridien Research of Newton, MA, provides analytical research services to users and providers of financial industry technology. Meridien Research targets three technology areas of strategic importance to financial services firms: eFinancial Services, Trading & Risk Management and Customer Relationship Management. Each practice delivers quarterly reports and monthly briefs, detailing new issues and challenges. Visit www.meridien-research.com/press to register for announcements as new research becomes available. For media relations, contact Parallax LLC at 1.781.235.7025 or parallax@meridien-research.com.
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Publication:Business Wire
Date:Jul 10, 2001
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