Bank of Tokyo-Mitsubishi UFJ Creates Institutional Foreign Exchange Mashup With Nexaweb's Enterprise Web 2.0 Platform

December 11, 2006; 03:45 AM
Nexaweb Technologies, Inc., provider of the leading standards-based platform for building and deploying Enterprise Web 2.0 (EW2.0) applications, today announced that Bank of Tokyo-Mitsubishi UFJ, Japan's largest bank, has migrated its client/server-based institutional foreign exchange system to an integrated Web-based application.

Through its partnership with Hitachi Corporation and Hitachi Systems and Services, Nexaweb allows Bank of Tokyo-Mitsubishi UFJ to offer corporate traders access to its self-service portal. Designed to look like the data displayed on the floor of the Institutional Foreign Exchange, it supports the entire foreign exchange trading system to corporate business users globally with 24x7 support.

Bank of Tokyo-Mitsubishi UFJ's new composite Enterprise Web 2.0 application combines multiple UI components with real-time currency exchange rate feed services, offering a flexible architecture that eliminates the need to navigate between multiple desktop applications and the Web to locate information and make transactions. The application was created to mirror the displays of the Institutional Foreign Exchange trading floor, and similar to that system, it reacts to events such as price increases and decreases, and signals changes to traders with color-coded messages. This significantly improves end-user responsiveness and access to critical data while cutting maintenance costs considerably. Key features of the system include:

--  Real-time currency rate streaming over the Internet: Displays currency
    pairs with price and term of pre-reserved currency rate.
--  Asynchronous Update of Transaction Logs: Eliminates the need to
    refresh Web pages, ensuring up-to-the-minute market details.
--  Drag/Drop and Resort Columns: Provides "thick-client" performance in a
    "thin-client" model.
--  Online Corporate Chat: Supports real-time collaboration of
    institutional foreign exchange trading.
    

"We assessed that a Web 2.0 platform would best support Bank of Tokyo-Mitsubishi UFJ's requirement to integrate its existing systems with a trading feed from real-time currency exchange delivery services," said Eiji Tatsukawa of Hitachi Systems and Services. "Only Nexaweb offered the necessary 'mashup' architecture to create a revolutionary Web-based trading platform capable of supporting a high volume of transactions, customized UIs designed to meet the specific needs of transactions, and lowered maintenance costs."

"For enterprises in the financial services market, it is imperative that results be offered in real-time, but all systems must provide the highest security and trade execution guarantee," said David McFarlane, COO of Nexaweb. "It is through our partnership with Hitachi Systems and Services that allows us to meet these critical needs, in turn allowing Bank of Tokyo-Mitsubishi UFJ, to properly support more than 10,000 global institutional traders."

About Bank of Tokyo-Mitsubishi UFJ

Bank of Tokyo-Mitsubishi UFJ has 35,000 employees, 672 branches in Japan and 113 overseas branches. Its holding company, Mitsubishi UFJ Financial Group (MUFG), has an inspired management philosophy: to progress toward a sustainable society by assisting with development in the areas in which it operates and conducts business activities, with consideration for the environment, in order to gain the public's trust and confidence and to be a good corporate citizen.

About Hitachi Systems and Services

Hitachi Systems & Services, a member of the Hitachi Group, is one of the largest providers of systems integration services in Japan. We help businesses implement growth strategies and leverage technology. Our original consistent and one-stop service of "Consult, Build, Operate, and Support" is common to all Hitachi Systems & Service solutions. We provide front-to-back office, end-to-end integrated services for clients across all vertical industries. For more information, visit www.hitachi-system.co.jp.

About Nexaweb

Nexaweb's Enterprise Web 2.0 solutions enable enterprises to rapidly deploy Richer, Thinner, Faster applications over the Web. With Nexaweb, building Ajax and Java UI applications that access legacy and service-oriented data systems is simple and doesn't require re-writing code. And only Nexaweb's EW2.0 solution is proven by more than 5,000 successful global deployments. Founded in February 2000 and rooted in the MIT community, Nexaweb is based in Burlington, Massachusetts. The company is privately held and funded by institutional investors. For more information, visit www.nexaweb.com or call (781) 345-5500.