February 27 th , 2007

1. The best approaches to facilitate the processing of business transactions and interactions with systems that pre-date the Web, and address the need to interconnect intranet and/or extranet services using Web technologies. FSTCMichael Versace, Fidelity Investments (member FSTC) February 27th, 2007

2. Background (FSTC) is the industry’s original collaborative forum, providing a safe, effective, and reliable venue for financial institutions, technology companies and academia to explore today’s strategic business-technology issues • Established in 1993 • FSTC initiatives have resulted in many important new payments, security and business continuity initiatives, and standards • The need for industry collaboration is greater than ever • enterprises increasingly extended and interconnected • to customers, competitors and third party services providers • technology-related business issues and associated regulation and compliance growing more complex and challenging FSTC Position Paper to W3

3. Progress – since last workshop If one speaks about the HTTP and HTTPS protocols • Interoperable computing using • SOAP • WS-Addressing • WS-Security FSTC Position Paper to W3

4. Other protocols and needs • Transactions are frequent & do not change state of system • Architecture must be capable of reliably changing state • Predictable when passing through complex architectural paths • Req to broadcast that changes the state of many systems • Must due in precise time frames • Must be reliable • Data is retransmitted to internal systems via TCP for reliability • We use Web Service Architecture • To get to market faster • To encapsulate legacy systems • One service to be used for many purposes • Bridge between heterogeneous language & platform environments • Bridge one enterprise to another FSTC Position Paper to W3

5. Other protocols needed - continued • FSTC a member of the Financial Services Sector Coordinating Council (FSSCC), where we serve on the R&D Committee, and on the Advisory Committee of eCavern. • We have also forged close working relationships with BITS, FS-ISAC, ABA, TCH, BAI, ECCHO, NACHA, ANSI/ASC X9, W3C, OMG, and OASIS to name a few. FSTC Position Paper to W3

6. Other Protocols needed – continued • Standardize the protocols that enable banks to move more rapidly • Forced to use proprietary solutions • Need to pass reliable messages • Need flexible broadcast process that is secure • Standards based internet architedturReference Architecture within our sector • Bridge wire level protocols • HTTP and FTP to API level protocols such as JMS and M Queue FSTC Position Paper to W3

7. FSTC - Recommendations • Strong desire to see specific specifications • WS – Transactions • WS – Reliable Messaging • Establish bindings for FTP • Leverage features of message oriented (MOM) & RPC-based middleware • Almost all legacy systems are built on • Establish a reference Architecture that accounts for: • Requirements • Delegations of authority to components • Interface with standard wire, and in memory API level • Clear model for passing XML documents and delegating authority • Establish policy languages for functional & non-functional capabilities • Quality of service • Audit • Routing FSTC Position Paper to W3

8. FSTC Recommendations - continued • Establish behavior for service intermediaries • Insure backward compatibility to current web service standards • Insure compatibility between ‘REST’ services and than WS* stack • Establish independent 3rd party certifications • Establish frequent technical audits for compliance with “teeth” FSTC Position Paper to W3

9. Thanks you for the opportunity • You are welcome to attend the FSTC Service Oriented Architecture conference calls • Held monthly on 2nd Wednesday – see FSTC.org calendar • FSTC will host a Mobile Payments & General meeting – see web site • Contacts for additional FSTC information • Dan Schutzer, dan.schutzer@fstc.org, 917 338 6480, or • John Fricke, john.fricke@fstc.org, (281) 692-0011 Any Questions? FSTC Position Paper to W3