Swiss American

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Swiss American Securities Inc. (SASI) With StreetL
ine WebServices An Upstream Downstream Case
study Christian Hudson EVP, SASI President,
StreetLine September 5th, 2002
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Table of Contents

• SASI StreetLine
• - Company Profile
• Web Services Evolution
• Web Services Solution Environment
• Web Services Currently Deployed
• - Vendor Relationships
• - Client Relationships (Demo)
• Future Directions
• - SASI StreetLine
• - Industry
• Lessons Learned

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Company Profile
STP-driven Execution Custody/Clearing Services
in 20 Markets Globally over 250 clients across
Europe and Asia
Managed Electronic Trading Solutions Global
Connectivity Customized Technology Services
Swiss American Securities Inc. and StreetLine are
both members of Credit Suisse Group, Zurich.
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Web Services Evolution
1939 SASI opens its doors near Wall St.
1983 Introduced SASINTEL (online interactive
execution and custody system)
1988 Among 1st securities firm to join SWIFT
1994 Introduced cross-border custody execution
platform
1999 Established StreetLine
2000 Introduced MSP product for Web Trading
solutions
2001 Established Web Services Solution
2002 - Participating in IBMs JStart Program -
Begin Vendor Integration in XML
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WS Environment

• Sun Hardware
• Solaris OS
• Xerces/Xalan Class Libraries
• J.Run Application Server
• I Planet Web Server

SASI and StreetLine created a Web Services
solution based upon clients needs to access our
broker-custody network on an application by
application basis not on a holistic basis.
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WS Solutions Deployed Vendor Side
Visualize/IBM (Jstart Program)

• Current Visualize client
• Migration from on-site server to WS solution
• Integrates with IBMs envisage server for
  authentication and billing
• Transitioning from RMI to SOAP WDSL

Market Data US Fundamental

• Both Vendors at this time use proprietary
  interfaces
• Both Vendors return XML data
• Market Data is provided on a-la-carte level
  pricing
• Fundamental data is billed monthly

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WS Solutions Deployed Client Side

• SASI/StreetLine initiated a test program creating
  WS functions which allow clients to perform the
  following application calls
• Initiate Log In/Log out
• Session Management
• Query our Global Symbology database
• Request and return a quote
• Build an order creation page based on Market
  conditions
• Confirm the buying power in local or exchange
  currency
• Submit the order for execution

Allows clients to control their own on-line
environment and implement functionality on an as
needed basis
WS Online Demo
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Future Directions SASI StreetLine
External

• Continue working with providers to embrace WS
  standards
• - Migration New Business
• Work closely with clients in the test program to
  continue to realize the risks and rewards of WS
  implementations
• Monitor the development of the Security layer

Internal

• SASI/StreetLine are focused equally on using the
  technology within our own organization to
  consolidate information and centralize
  functionality across platforms and pipeline.
• Trade Flow Monitoring
• Integrated Reporting

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Future Directions Industry
Short-Term

• Internal Focus
• - Data rationalization
• - Process knowledge
• - Non-critical applications
• STP direction of industry

Overall technology spending related to STP
efforts will be focused on five major
issues improving operational workflow, real-time
processing, automation, migrating to industry
standards and connectivity. (See STP Spending
to Focus on Five Major Issues, Wall Street
Technology, Feb 2002, page 10)
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Future Directions Industry
Long-Term

• Widespread adoption of Web Services will allow
  for
• Significant reduction in operational cost basis
• Focus on core competencies
• Fundamental change in the value chain for
  Financial Services

As the financial world evolves to openly embrace
investing in global markets, time is continuously
being compressed, vertical knowledge seems
lacking, and investors and regulators are
continually demanding automation enhancements
that appear extraordinarily costly.
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Lessons Learned
Lessons from current vendor and client
implementations

• Conversion of existing clients to WS is not
  painless
• Service focus vs. Revenue focus
• Complicated processes systems
• Partner with firms based on capabilities not just
  technology

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Swiss American Securities, Inc. (SASI) And StreetL
ine Service Excellence One-Stop
Shopping Vertical Knowledge Reach extension to
global markets Optimal STP
QA
Member New York Stock Exchange, Principal
Regional Exchanges, NASD, SIPC and NFA
Technical Solutions For Financial Institutions