Keeps Markets Moving with TIC and Report.Web
"The Intercontinental Exchange, known as ICE, purchased the New York Board of Trade (NYBOT) in 2007. The have changed the NYBOT’s name to ICE Futures U.S. as of September 3, 2007. The website for the exchange's information is now www.theice.com."
The New York Board of Trade (NYBOT) was created in 1998 through the merger of the Coffee, Sugar and Cocoa Exchange and the New York Cotton Exchange. The diverse markets of NYBOT represent over a century of tradition and history in commodities trading in the financial center of the world, New York City.
NYBOT was located at Four World Trade Center in New York City. We are all aware of what happened on September 11, 2001. NYBOT was of course, affected as well, temporarily relocating its facility 35 miles away in the aftermath of the tragedy. But, due to the implementation of a state-of-the-art disaster recovery plan, the Board was ready to resume trading the next business day.
Maintaining the data infrastructure and integrity for NYBOT can seem a daunting task. The Board uses Tandem mainframe (now HP NonStop) servers to process and archive their numerous trading transactions and reports. Ian Nelson, vice president of IT operations for NYBOT, is up to the challenge. And to assist him in his endeavor, he turns to the experience and expertise of Transaction Innovation Corporation (TIC).
"I was aware of TIC and their expertise in the Tandem world, so in 2000 when we were looking to modernize our Commodities Operations Processing application with a Web front end, we contacted them," explained Nelson. "TIC provided us with their TAS product (TAS enables the use of a Tandem mainframe as a Web server in a Guardian environment, giving us the optimal performance we sought in a very cost-effective package."
After their initial success with TAS, NYBOT began looking into other solutions offered by TIC. Nelson was seeking an alternative to the green bar hard copy reports, distributed to the approximately 50 clearing members, and wanted to move to an electronic reporting and delivery system. TIC's TeleMail and TeleFTP products were implemented to do just that. The Tandem reports are now spooled to an FTP site where they may then be distributed to NYBOT members via email.
Another mission critical document for NYBOT is the monthly transaction report of approximately 5,000-5,500 pages distributed to 800 - 850 brokers. Once a manual procedure to compile, print, assemble and disseminate individual reports to each broker, the Board is now using Report.Web offering to automate this process. Brokers are now able to access reports tailored to their individual clients and transactions, and view this highly confidential information securely via Web browser.
"We are very excited about the work we've done with NYBOT, including the recent implementation of Report.Web" enthused Phil Ly, CEO, TIC. "The ability to provide solutions for our clients that not only enhance their IT process efficiency, but also save them time and money, is our hallmark. We are especially proud to have supported NYBOT during very trying times."
"TIC in general, and Phil Ly in particular, are excellent sources of information pertaining to new technologies available in the Tandem world," stated Ian Nelson. "Their technical expertise is certainly superior, and when necessary, support has been responsive and efficient. We naturally plan on continuing to keep abreast of their offerings."
Report.Web is an enterprise web reporting tool developed by Allen System Group (ASG), and integrated on the NonStop platform by their partner TIC. This offering enables NonStop Server (Tandem) print reports to be accessible via a standard Web browser. In addition, the report data can be transformed into a user-friendly TREE VIEW format, EXCEL spreadsheet, XML data with auto sort capability, and Windows database formats without any additional programming. Report.Web enables NonStop Server report data to be searched (data-mined) and distributed to users who can then efficiently and effectively manipulate the information for analysis and management decisions, thus providing tremendous savings in time, effort and cost for report dissemination and distribution.
About Transaction Innovation Corporation:
TIC Software has been providing solutions for the HP NonStop platform since 1983 – predominantly in the banking, financial services and health care markets. The firm’s dedication to creating innovative solutions and providing responsive services has enabled its clients to best leverage modern technology and optimize productivity.