PRESS
RELEASE
Contact
Information
Raining
Data Corporation
Phone:
(949) 442-4400
Fax: (949) 250-8187
Investor/Financial
Contact:
Brian C. Bezdek, Chief Financial Officer
brian.bezdek@rainingdata.com
Marketing/Press
Contact:
Boris Geller, Vice President, Market Development
boris.geller@rainingdata.com
Raining
Data Launches Packaged Support for
Financial Services XML Standards
SIA TECHNOLOGY MANAGEMENT CONFERENCE, NEW YORK, NY
June
17, 2003
-
TigerLogic XDMS Provides Fast Access to Aggregated Financial
Research Through Bundled Support for RIXML, XBRL, MDDL and
Other XML Standards
-
Innovative Data Abstraction Layer Enabled by TigerLogic XDMS
Stores Aggregated Data in the Mid-Tier to Improve Efficiency
of IT and Offload Processing from the Back-End Systems
-
Flexibility of TigerLogic XDMS Hierarchical Data Architecture
XML-Enables Existing IT Infrastructures and Complements EAI,
EII, ETL, Data Warehousing and Relational DBMS Solutions
Raining Data Corporation (Nasdaq: RDTA), a long-time provider
of scalable, flexible and reliable data management software,
today announced that its TigerLogic XML Data Management Server
(XDMS) provides support for the emerging Extensible Markup Language
(XML) standards designed to help boost the efficiency of electronically
conducted financial services business. Raining Data is showcasing
these added TigerLogic XDMS features at the SIA 2003 Technology
Management Conference and Exhibit, June 17-19, 2003 in New York.
Raining Data, a sponsor of the conference, will be demonstrating
TigerLogic XDMS for financial services at Booth 4200, Americas
Hall #2, Level 3 at the Hilton New York hotel.
The
TigerLogic XDMS includes patent-pending XML processing and storage
technology that significantly boosts the performance and efficiency
of data architectures by moving commonly requested data to the
mid-tier – between front-end Web clients and back-end operational
systems – where it is closer and easier to access for information-hungry
Web and XML-enabled applications. According to a recent report
from XML market research firm ZapThink, LLC (“High Performance
Information Aggregation Using XML-Based Operational Data Servers:
Empowering Flexible Data Aggregation in the Financial Services
Markets”, available at www.rainingdata.com/zapthink/index.html),
this functionality is important for financial services firms
which increasingly leverage the power of XML throughout their
enterprise information sharing infrastructures.
"Financial
Services Providers are essentially information-based businesses:
their primary asset is the information they store and share,"
said Ron Schmelzer, senior analyst at ZapThink LLC. "FSPs
are struggling today with finding the most agile and cost-effective
means to integrate and aggregate information from a wide range
of unstructured and semi-structured enterprise data sources.
Today's integration solutions are either targeted at structured
sources of information such as databases, or are too rigid and
expensive to handle enterprise information aggregation needs.
A single integration architecture or approach is not sufficient
to guarantee interoperability among businesses and systems.
In order to facilitate interoperability, Financial Services
XML standards are needed to guarantee inter-organizational information
exchange, enabling trading desk and customer care professionals
to have the timely, relevant intelligence they require."
There
are several XML standards initiatives that have emerged as increasingly
prevailing ways to encode and publish financial services-related
information, including:
-
Extensible Business Reporting Language (XBRL)
– An open, freely licensed specification that uses XML to
describe financial statements to enable easy and consistent
processing of public filings.
-
Research Information Exchange Markup Language
(RIXML) – A format that provides structure for
any research, in any form or media, with enough meta-data
to rapidly search, sort and filter content.
-
Market Data Definition Language (MDDL)
– A standardized architecture to define common vocabularies
for data feeds on securities prices, volume, bids and offers,
and other trading attributes.
In
addition, standards such as ISO 15022 XML have emerged to replace
older standards for securities industry electronic messages,
while Financial Products Markup Language (or fpML) provides
a standard format for trading derivatives and other financial
instruments electronically. By providing native support for
these XML-based standards in the TigerLogic XDMS, Raining Data
can substantially reduce the workload of financial institutions’
IT staff looking to take advantage of XML to do better, more
streamlined electronic business.
Mid-Tier
Operational Data Servers Improve Efficiency of FSP Infrastructures
The TigerLogic XDMS is a mid-tier operational data server that
integrates and transforms data of any type or structure into
XML and then stores it in the mid-tier to quickly satisfy requests
for commonly needed aggregated information. TigerLogic XDMS
only needs to update itself when changes are made at the back-end
sources. This means requests for relatively static data such
as product terms and periodic financial research will touch
back-end systems far less frequently, preserving precious processing
power for the most critical data requests – those that need
real-time answers or change data on the fly.
These
are important innovations that can lead to financial savings,
improved technology ROI and better IT efficiency, especially
in financial services environments that are developing Web Services
and composite applications. By reducing the data processing
requirements of back-end systems, the TigerLogic XDMS minimizes
the need for FSPs to over-provision capacity on the back-end
– that is, buying more hardware, software and network resources
than actually needed for daily operations.
“Enterprise
customers are now looking for ways to improve scalability and
get more life out of their existing investments in IT infrastructure.
This is the essence of TigerLogic XDMS, and why we feel it is
a good fit for financial services firms, which boast the world’s
most complex infrastructures and biggest integration challenges,”
said Boris Geller, Vice President of Market Development for
Raining Data. “By providing FSPs with packaged support for the
most popular financial services XML standards, TigerLogic XDMS
helps firms to tie their systems together and simplify access
and sharing of electronic research information. That, combined
with providing a fast path to XML-enabling an entire infrastructure,
reduces costs generated by over-provisioning and creates a very
attractive business value for our target customers.”
Pricing
and Availability
TigerLogic XDMS version 1.1 is available for Windows 2000, Windows
XP and Solaris platforms. Software license fee pricing starts
at $25,000 per server and varies based on selected platforms
and configurations. Support for RIXML, MDDL, XBRL and other
financial services XML standards, is bundled with the product.
About
Raining Data
Raining Data Corporation (Nasdaq: RDTA), headquartered in Irvine,
California, has been providing reliable data management and
rapid application deployment solutions for developers of database
applications for more than two decades. Raining Data's flagship
products include: 1) high-performance TigerLogic™ XML Data Management
Server (XDMS), which provides flexible, scalable and extensible
storage and retrieval of critical business data across a variety
of structured and unstructured information sources, delivering
mid-tier scalability and transactional integrity of enterprise
databases as well as dynamic extensibility and ease of use,
mostly found in repositories and file systems; 2) D3®,
mvEnterprise® and mvBase® family of powerful Pick®
based hierarchical multi-dimensional database management systems
that are the choice of more than a thousand application developers
worldwide; 3) the Pick Data Provider for .Net™ which allows
D3, UniData® and UniVerse® database platform
users to take advantage of the .Net Framework by utilizing Microsoft
Visual Studio® .NET by serving as a bridge between an application
and the data source; and 4) Omnis Studio®, a powerful, cross-platform,
object-oriented RAD tool for developing sophisticated thick-client,
Web-client or ultra thin-client database applications.
The
Raining Data customer installed base includes more than 500,000
active users, representing over 20,000 customer sites worldwide
with a significant base of diverse vertical applications. With
over 150 employees in four countries, the company has an extensive
distribution channel, 24x7 customer support and a strong international
presence. More information about Raining Data Corporation and
its products can be found at www.rainingdata.com
# # #
Except
for the historical facts contained herein, the foregoing release
contains forward-looking statements regarding the use and market
for mid-tier operational data servers and the ability for TigerLogic
XDMS to reduce certain costs and to meet certain needs, including
those of financial services providers. Actual results could
differ materially from those expressed in any such forward-looking
statements. These forward-looking statements are subject to
risks and uncertainties, including but not limited to the market
acceptance of TigerLogic XDMS and other products and updates,
the success of the Company’s research and development efforts
to develop new products, technical risks related to the Company’s
products and updates and other risks and uncertainties. Please
consult the various reports and documents filed by Raining Data
Corporation with the U.S. Securities and Exchange Commission,
including but not limited to the Company’s most recent reports
on Form 10-KSB and Form 10-QSB. All forward-looking statements
are made as of the date hereof and the Company disclaims any
responsibility to update or revise any forward-looking statement
provided in this release.
Raining
Data, Pick, D3, mvEnterprise, mvDesigner, mvBase,
Omnis and Omnis Studio are registered trademarks and TigerLogic
is a trademark of Raining Data Corporation. All other trademarks
and registered trademarks are properties of their respective
owners.
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