Bloomberg to enhance messaging compliance with Orchestria software
**Orchestria’s state of the art technology will offer advanced messaging compliance capabilities to Bloomberg users**
October 7, 2004 - Bloomberg LP and Orchestria Corporation today announced a strategic alliance under which Orchestria will provide Bloomberg with a range of integrated messaging compliance solutions for the financial services market. The hosted solutions will be offered as part of the Bloomberg terminal service and will include support for Bloomberg email and Instant Bloomberg, the instant messaging service for Bloomberg users.
Bloomberg users exchange millions of messages per day, many of which are subject to strict regulatory requirements. Orchestria’s market leading Active Policy Management (“APM”) technology will allow Bloomberg users to check each message for compliance with the relevant rules in real-time, as the message is sent. Additional functionality, including long term message archiving, compliance review and litigation support, will be provided, as will full integration with existing APM deployments.
“Bloomberg is continually improving its services and functionality to provide greater and greater value to Bloomberg users,” according to Gerald Walker of Bloomberg. “In addition to the e-mail review, retrieval and other compliance functionality already offered by Bloomberg, Orchestria's market-leading technology gives Bloomberg users the state of the art in compliance solutions for the financial community. Existing and future Orchestria clients will also benefit from seamless application of email policy across Bloomberg and internal communications systems.”
“Orchestria has rapidly established itself as the market leader in advanced messaging compliance solutions,” Mr. Walker continued. “With sizeable deployments in many of the largest investment banks, they were the obvious technology choice to extend the compliance capabilities of the Bloomberg terminal."
“The extensive adoption of Bloomberg throughout the financial services industry will allow Orchestria to introduce the benefits of Active Policy Management to a broader audience, as well as extending the functionality we provide to our existing customers,” said Bo Manning, CEO, Orchestria. “This alliance clearly extends the market leadership of both organisations.”
The solutions will be available to Bloomberg users later this year.
Orchestria is the leading innovator in technology that provides unprecedented levels of real-time visibility and control of all electronic communications, including email, the Web and instant messaging. This process is known as Active Policy Management (APM).
Orchestria's APM solution dynamically applies specific and explanatory policy at the point of interaction, which means that non-compliant events, such as information boundary breaches, document-sharing violations or inappropriate disclosures are determined and filtered as they occur.
Orchestria APM has been deployed by some of the world's largest corporations, including Wall Street banks, which face an increased regulatory environment since the introduction of legislation such as the Sarbanes-Oxley Act (SOX) and SEC/NASD regulations. Its pioneering technology: analyses content, context and concepts; enforces corporate policy; optimises existing storage solutions; eliminates unauthorised data loss and ensures regulatory compliance.
Founded in August 2000, Orchestria has offices in New York and London, and a dedicated development facility based in Taunton, UK. It is a privately held company. More details can be found at www.orchestria.com.
Bloomberg LP is the leading global provider of news, data and analysis. The BLOOMBERG terminal and Bloomberg’s news services provide reporting, analytics, real-time and historical pricing, indicative data, multimedia events and electronic communications 24 hours a day to corporations, news organizations, financial professionals and individuals around the world. Bloomberg’s media services include BLOOMBERG NEWS®, the global news service that includes more than 1,800 journalists in 102 bureaus worldwide; BLOOMBERG TELEVISION®, the 24-hour business and financial network produced and distributed worldwide on 10 separate channels in seven languages; and BLOOMBERG RADIOSM, which provides up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York. In addition, Bloomberg Magazine Group and Bloomberg Press publish magazines and books for investment professionals. BLOOMBERG TELEVISION and BLOOMBERG RADIO are syndicated to more than 800 affiliates worldwide. For more information please visit www.bloomberg.com
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