8 Aug 2002: Ironbark Targets OTC Derivatives with Data Storage

Ironbark has released OTC Warehouse, a data storage system based on relational database technology. The system is aimed at participants in the over-the-counter derivatives area.

OTC Warehouse is aimed at offering full International Swaps & Derivatives Association (ISDA)/Financial Products Markup Language (FpML) capability to smaller financial institutions which only occasionally use OTC derivatives.

The system supports Microsoft SQL Server, Oracle and Sybase Adaptive Server and is able to import and export standard FpML files and store them using half the space required by the XML. The product is supplied with application programmer interfaces for C#, VB, C++ and Java and includes an extensive test database.

Ironbark believes the product is the first enterprise class storage product for FpML. The product implements an extensive range of business validation functions using over 200 stored procedures and is available for FpML 1, 2 and 3.

Ironbark is taking an aggressive stance on pricing. For FpML 3 onwards, the product is licensed for vertical industry segments, so that a foreign-exchange dealer is not required to pay a license for equity derivatives components. Special deals apply to vendors who wish to embed OTC Warehouse into their trading and risk management applications.