July 12, 2011
Chapdelaine & Co. Modernizes Municipal & Corporate Bond Trading System to the Web with Nexaweb
BURLINGTON, Mass., July 12, 2011 /PRNewswire/ -- Nexaweb Technologies, Inc., a leading provider of IT application modernization software solutions, today announced that Chapdelaine & Co. has selected Nexaweb to help transform its terminal-based municipal bond trading system into a rich Internet application that provides real-time market data and trading services to traders over the web.
Established in 1966, Chapdelaine & Co. is an inter-dealer broker that provides dealer-to-dealer services for fixed-income bond executions for municipal and corporate bonds. At the core of the firm's service is its custom, fixed-income trading platform. The terminal-based system was originally designed to support Chapdelaine & Co. traders fielding orders from clients over the phone. In order to make the system easier to learn and more productive to use for employees, and to provide self-service e-trading to clients over the web, Chapdelaine & Co selected Nexaweb to help modernize their trading platform.
In order for the next-generation trading platform to meet the firm's business objectives, it needed to have a rich Internet user interface (UI) that pushes market data to users in real time; it also required a modular architecture that would make it easier to maintain and extend in the future. Chapdelaine & Co. selected Nexaweb to support the initiative in large part, because Nexaweb's application modernization software aligned with their objectives so well:
- Nexaweb Studio - visually create rich Internet application UIs for traders
- Nexaweb Internet Message Bus - provides secure, two-way data transfer between the server and web browsers for real-time market data delivery, order status reporting and trade capture
- Nexaweb Reference Framework -reduces project time, cost and risk by providing a ready-to-use, modular J2EE architecture that ties new and legacy application components together and includes pre-built code for handling security, user interface interactions, workflow, SOA access, etc.
"In order to deliver a revolutionary user experience to our clients we had very ambitious application requirements to meet," said Ken Torres, senior vice president of IT at Chapdelaine & Co. "We turned to Nexaweb because they not only possess a great modernization customer track record; they also integrated nicely into our infrastructure, which gave us a huge head start and eliminated a lot of delivery risk."
Chapdelaine & Co. is using the Nexaweb Enterprise Web Suite to make additional enhancements to their trading platform, including real-time Municipal Securities Rulemaking Board (MSRB) data feeds, market indicators, market news and analysis tickers delivered via RSS, and user preferences configuration.
"We're excited to be working with Chapdelaine & Co. to support the modernization of their bond trading platform," said Nexaweb CEO, Chris Heidelberger. "Seeing the transformational effect that application modernization has on our customers' businesses is the most rewarding part of the field we're in."
Nexaweb Technologies, Inc. is the leader in client/server and legacy application modernization using cloud computing. Nexaweb has modernized more than 450 applications to date -- and is the only company offering a fixed-time, fixed-price guarantee. More than 200 customers, including Aflac, DHL, EMC, Nokia Siemens Networks, Pepsico, Rabobank and US Air Force have leveraged Nexaweb software and services to modernize their applications and transform their businesses. For the latest news and information, follow Nexaweb on Twitter at http://www.twitter.com/Nexaweb and visit http://www.nexaweb.com.