Q & A with VERTEX

Q sat down with Suzanne Brazeal, Vice President, Business Automation Solutions, VERTEX Incorporated, to discuss their work with .NET testing for DTCC I&RS. VERTEX, a DTCC partner, works with member companies to address connectivity issues as part of the migration on to the Replacements platform.

IQ: Tell us about VERTEX.

SB: VERTEX has been providing professional services and technical solutions to the financial services industry since 1991. We automate insurance business processes by utilizing new business straight-through-processing strategies and partnering with technology solution providers. Since 2000, we’ve been involved in implementing and maintaining I&RS products for numerous DTCC member companies. I feel that we have developed a deep understanding of the carriers and broker/dealer infrastructure, DTCC’s record formats, and the business use of the data being transmitted among partner companies.

IQ: Can you describe the .NET testing currently underway?

SB: We’re working with DTCC’s Replacement pilot program which allows XML-based transactions to be sent between carriers and distributors in real-time through web-based services. The Replacement service is interesting since it removes much of the manual workflow by automating the replacements process.

Within web services, where VERTEX plays a key role, some of DTCC’s member companies run on Java while others run on .NET. DTCC runs on Java and VERTEX runs on .NET. We each set up test environments and are actively testing the web service calls so that we can help identify and resolve many of the differences between the two code bases prior to launching with the pilot testing group. On a technical level, we are creating a simulated testing environment that mirrors the participant’s .NET testing environment to help identify any potential code or server setup roadblocks and develop instructions on how to remove these roadblocks. DTCC is partnering with VERTEX to ensure that by the time they release Replacements to the testing group, they are able to get firms up and running seamlessly. Because we are experts in both the .NET and Java environment, we can help DTCC implement coding changes to facilitate the process for those members on either .NET or Java.

IQ: How exactly are you working with the DTCC member companies?

SB: Our primary goal is to make sure they are seamlessly connecting to the service. The testing process we’re going through now is to generally help member firms get up and running faster and specifically to facilitate the test group getting into testing mode much faster. On the business level, member firms should realize a reduced total cost of ownership because our work with them is helping reduce the time and resources involved in connecting to the service. In addition, they’ll experience benefits by automating what is currently a very manual process.

IQ: You’re not just working on .NET, you’re also working with XML messaging?

SB: Yes – in addition to the .NET testing, we’re helping define the XML messages that are sent back and forth between companies using web services. We were involved in the pilot program to help get the business requirements fleshed out and defined in ACORD, which is being utilized in the process. As a result, we have understand the data which needs to be communicated between parties, carriers’ operating environments, and the supporting technologies.

IQ: What about companies that don’t have the resources to develop technology in-house?

SB: We’re a 100% professional services solution so we’re not a software company. However, we do partner with SEEC to offer a combined technology/services solution to participating companies who would prefer to buy a solution versus developing technologies in-house. In this sort of situation, VERTEX provides the ACORD schema, ACORD/DTCC transaction expertise, system data/extraction/translation expertise, the replacement process know-how, and business functional testing support of the solution. SEEC delivers a set of ACORD-compliant components that are pre-built and tested for DTCC specifications to address Replacements.

IQ: Why is there so much commitment to these testing efforts?

SB: I think across the industry, many firms don’t understand or appreciate the complexity of connectivity and web services-based communications. The issues that can arise between two services who communicate using different technologies such as .NET vs Java can cause a whole array of issues which can be draining for firms on both the time and resources side. In addition, it’s rare to find a firm that understands both disciplines as more often than not, they’ll have knowledge and experience using one or the other. By committing to this upfront effort, we’re saving time, reducing costs, increasing efficiency and helping to make this a more seamless process.