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Italy's Unicredit Banca Mobiliare To Use Radianznet

Date 04/12/2002

Unicredit Banca Mobiliare (UBM) will be able to use Radianz's global financial extranet, RadianzNet, for Internet Protocol (IP) networking, thanks to a three-year agreement signed by Unicredit Servizi Informativi, the service company of the Unicredito Italiano banking group. UBM will use RadianzNet to connect financial institutions to its electronic applications for trading equities.

RadianzNet is an open-standards, IP network that supports the Financial Information eXchange (FIX) connectivity needed by UBM to connect its trading applications to its clients' order management systems.

FIX is a standard industry protocol that facilitates straight-through processing (STP) of trading-related messages by enabling different trading systems to communicate with each other. It was originally introduced by a consortium of buy- and sell-side firms in 1993 and has become one of the prevalent standards in global electronic trading.

In addition to Radianz's FIX capabilities, UBM selected Radianz because RadianzNet's existing infrastructure, which is connected to the vast majority of financial institutions worldwide, can be used by customers to more quickly connect new users to their trading applications. This approach is faster than having to buy and wait for bandwidth from common telecom carries to be installed. A single connection to RadianzNet versus multiple point-to-point connections from the carriers also will give UBM's customers more efficient access to nearly 80 other applications used by financial professionals across the STP chain for trading equities.

Giusy Cremonesi, in charge of Electronic Trading for Unicredit Banca Mobiliare, commented: "Radianz is key to our STP strategy because it will enable us to offer fast, secure, seamless execution services to customers. Radianz also will speed our time to market because we will be able to use RadianzNet to more quickly connect targeted clients to our service."

Myron Tataryn, vice president and head of European Sales for Radianz, said, "The addition of UBM to our global financial extranet will give the thousands of institutions and their employees connected to RadianzNet access to yet another key quality brokerage and execution service used in international financial markets."