CSK Software's X-Gen Ready For New SWIFT Messaging Standard, Offers Massive ROI

Added: (Mon Sep 24 2001)

Pressbox (Press Release) - CSK Software’s X-Gen Middleware Suite Ready For Move Of S.W.I.F.T.’s ISO 15022 Into General Use

X-Gen offers massive ROI for middleware message conversion

CSK Software has announced that its pioneering X-Gen messaging middleware suite is ready for the move of S.W.I.F.T.’s new message standard ISO 15022 into general use on 1 November, when all S.W.I.F.T. members will be able to send and receive the new messages. X-Gen offers banks substantial returns on investment as its automatic conversion of messages from old into new formats can be implemented ten times faster than the normal processes required to recode messages.

X-Gen allows rapid integration of diverse applications, relational databases and communications systems, whilst also being able to migrate S.W.I.F.T. ISO 7775 messages to the 15022 format in live, high-volume environments. X-Gen for S.W.I.F.T. has been available since 1998, and was the very first middleware solution to go live with the new format messages when it was installed at the Dresdner Bank and the Deutsche Börse in Germany. Since then the solution has been implemented world-wide.

The solution has been awarded the S.W.I.F.T.Ready Gold Label for three consecutive years in the middleware category, in recognition that its handling of S.W.I.F.T. messages meets the highest possible message processing standards and STP guidelines. X-Gen can also process International Bank Account Number [IBAN] payments.

Peter Walsh, Country Manager for CSK Software UK, said: “The new ISO 15022 messaging standard substantially increases banking efficiency by offering genuine straight-through-processing across the entire securities industry, and X-Gen is a market-tested means of bringing these benefits to financial institutions. With X-Gen, banks no longer have to enter a series of unilateral agreements, but will be able to transmit data freely to each other using any type of message. Furthermore, the cost savings involved in implementing X-Gen compared to in-house message recoding are substantial, and compelling.”

X-Gen allows an organisation to integrate disparate applications without the need for further software development. X-Gen for S.W.I.F.T. bridges the gap between back-office systems and the S.W.I.F.T. network, supporting all message types straight out of the box, with minimal effort required. Key features of X-Gen include:

· Automatic conversion between old S.W.I.F.T. messages and ISO 15022 messages in live, high-volume environments
· Fast implementation, using a powerful rules processor with a graphical user interface
· Integration of applications can be done by non-technicians, without writing code
· Instant full documentation of the interface as rules are entered
· Scalability to very high ticket volumes
· Remote control of servers
· Database lookups

X-Gen Reference sites:
CSK Software has an extensive client list incorporating many well-known names in various industries. Some examples of the types of X-Gen solution that CSK Software has delivered are included below:
Banca Commerciale Italy
BCI, Italy’s leading financial institution, recognised the emerging importance of the corporate messaging for its business strategy, and decided not only to upgrade its systems, but to replace its existing application with X-Gen which allows it to replicate, control, supervise and generate ISO15022 all in one go.
Deutsche Börse Clearing AG
Deutsche Börse Clearing (DBC) wished to streamline the many ways in which it communicates with its correspondents, by standardizing on S.W.I.F.T.’s new ISO15022 message types. CSK’s X-Gen provided DBC with the means to do this whilst also gaining a new and improved flexible workflow component. Thanks to X-Gen, DBC ‘s securities lending processing system, LMS, was also slotted into the new processing cycle, leaving DBC ideally positioned to deliver ever-improving levels of service to its customers.
Dresdner Bank
Dresdner Bank has also deployed a solution based on X-Gen, to take advantage of the new ISO15022 S.W.I.F.T. message types. It did not make sense internally for the bank to convert all of its systems to use the new MT54x format, so Dresdner selected CSK’s X-Gen/S.W.I.F.T. product to provide the message format conversion it needed. As a result Dresdner Bank was the first bank in Germany to implement the new message types.

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Further information from:
Terry Cartwright or Aiden Locke
Hill Murray PR Limited
+44 (0)20 7881 3232

Elissa-Jane Thomas
CSK Software Sales & Business Development Manager
+44 (0) 20 7815 5234

About CSK

CSK Group & CSK Corporation

The companies of the CSK Group form one of the world's major enterprises in the field of information technology. With sales of more than $4.5 billion and 16,000 employees, their operations span business and entertainment, from high-end research and network systems to games software and computer chain-stores. There are more than twenty companies within the group including SEGA Enterprises and SEGA Software, Bellsystem24, a marketing agency and call-centre specialist, CSK Electronic Industrial Co., a major Japanese retail computer chain, ASCII Corporation – a multimedia publishing company – and CSK Corporation.

CSK Corporation, of which CSK Software is a subsidiary, is a public company listed on both Tokyo and NASDAQ Exchanges. It is a total systems provider that has supplied advanced information systems and services to more than 3000 clients. Employing its expertise in systems integration, outsourcing and networking to promote "real-time business", CSK is constantly proving its motto: Your Best Business Partner.

CSK Software

CSK Software, the financial markets solutions company, helps the world's leading financial institutions to deliver and employ mission-critical applications – reliably, rapidly and securely. With a heritage that reaches back to the pioneering era when real-time financial data first made its appearance in the modern trading room, CSK Software is now building on its success by focusing on three business segments:
ETS (Electronic Trading Systems) – a suite of products designed to manage and move trading data throughout wide ranging trading enterprises, this includes the X-Con product.
EAI (Enterprise Application Integration) – includes the X-Gen product range, designed to increase straight-through processing levels, thereby increasing quality and efficiency as well as reducing risks and costs.
RDD (Real-Time Data Distribution) – includes the Slingshot and InVision Product ranges, offering solutions for gathering and distributing information across a variety of networks.