MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB) SELECTS DATA AND PROCESS INTEGRATION PRODUCT FROM VOLANTE TECHNOLOGIES, INC.

New Data and Process integration technology increases efficiency, reduces time to market and cost of implementation

New York – October 8th, 2003 – Volante Technologies, Inc., an innovative software company with a focus on Straight Through Processing (STP), via data and process integration for the financial markets, today announced that Municipal Securities Rulemaking Board selected Volante product suit to build its Real-Time Transaction Reporting System (RTRS).

MSRB chose Volante product suite to build its Real-Time Transaction Reporting System which will allow dealers in municipal securities to report activity through a real-time, interactive messaging system. The data will then be compiled to publish daily transparency reports, and to allow regulatory surveillance.

"After a thorough comparison of different vendor products by a third party, the Volante product suite was chosen. Unlike other vendor products, Volante allows us to rapidly roll out messaging applications," said Tom Hutton, CIO MSRB, "Volante was chosen for its richness in ISO 15022 support and it’s zero lock-in technology for building complex messaging applications".

"We are seeing a greater need for simple to use and highly productive message development environments. MSRB choosing Volante against other vendor products is a strong endorsement of Volante’s model driven approach for integration," said Vijay Oddiraju, Chairman and Founder, Volante Technologies, Inc. "Volante’s platform independent, message development environment is unique. Unlike the restricted integration models that are tightly coupled with vendors infrastructure and rarely can be shared or reused on multiple platforms".

Contact information:
John Kennedy
Phone: 212-905-6231

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