Further to an agreement between Kinvara Ventures Inc., to be renamed Financial Market Solutions (Canada) Inc. ("FMS Canada") and Financial Market Solutions Inc. ("FMS") a Bellevue, Washington-based solution provider to the financial markets, whereby FMS Canada may acquire all of the issued and outstanding shares in FMS from its existing shareholders, FMS Canada is pleased to announce that Microsoft Company, Limited ("Microsoft"), the Japanese subsidiary of Seattle-based Microsoft Corporation, has invited FMS to become a member of its Financial Solution Services Partner Program.
Microsoft's Financial Solutions Partner Program has been designed to be solution oriented and to provide business, technical, and marketing services needed for partners to deliver superior financial solutions to customers. As a member of this program FMS Canada will have access to the following from Microsoft:
- Joint Marketing
- Funding for New Solution Development
- Technical Training
- Support Program
- Early Access to New Products (New Versions)
FMS Canada and Microsoft have agreed on an action plan that will begin in the second week of January 2001. The plan calls for the training of Microsoft personnel in the operations of the Universal Trading Platform ("UTP"), introductions of FMS to Financial Institutions and Corporate Clients that are potential users of the UTP by Microsoft and using FMS to help launch Microsoft’s ".NET" initiative in Japan.
The .NET initiative involves Microsoft’s advanced new generation of software that melds computing and communications in a revolutionary new way, providing users with far better access to web-based data and services. In the next three years, Microsoft will invest US$2 billion to enable industry partners, independent developers, and corporate IT developers to build Microsoft .NET services (from www.microsoft.com).
"Working with Microsoft in their Financial Solutions Partner Program will allow FMS Canada to quickly expand its activities into the Japanese market as well as re-enforce our commitment to deliver the best available technology to our customers," said Scott Wilson, President of FMS Canada.
The central component of all FMS solutions is the Universal Trading Platform (UTP), which was developed as the Next Generation of B2B and B2C Exchange/e-Marketplace Platform. This dynamic web-based platform enables unlimited numbers of simultaneous users to access the system and execute trades on a fully automated basis. The first complete solution was implemented for the Foreign Exchange Market followed by the additions of Forwards, Options, and Equities trading modules. Scheduled future enhancements including Bonds, Futures, and Precious Metals modules are due to be added to the system by the second quarter of 2001. The same platform can be used for transactions in any tradable financial instrument, making the UTP versatile enough to handle virtually all of a client’s treasury management needs.
The UTP is available to Financial Institutions either as an ASP solution over a secure server farm located in Seattle, or as an internally licensed software solution. The system’s unique design allows for multi-user capability, a feature that when combined with the virtual market module will allow users to become market makers and market users.