Thursday, February 28, 2002

The 411 on OM, STP, T+1

While it may be Greek to some, OM Americas Vice President Gregory Johnston was well versed in the technical and financial terms necessary to convey what his firm hopes to do with these markets. Held at the lovely Swedish Consulate General in New York, Johnson spoke on February 28th on "Technology Applications for the Financial Markets." Among learning about the vast client base they have, Johnson told us how OM plans to impart order on the 'spaghetti nightmare' with financial systems that exists today. If anyone can do it, I suppose they are as qualified as any. After all, they are one of the leading European technology companies and are known for, among other things, their hostile takeover bid for the London Stock Exchange last year. This learning experience was, according to Johnson, one of the most successful unsuccessful bids ever, as the exchange is implementing many of the recommendations they made.

Other points he enlightened us on were a high-level view on the future of the industry, (STP) Straight Through Processing, T+1, market potential and technology vs. integrity. Afterwards, Consul General Olle Wastberg encouraged us to partake in the necessary networking and have a beverage. And this was done with much enthusiasm. I chatted it up with F-Secure's Gene Trivell who told me about this Finnish-based company and then met CSFB Direct product development manager Andrew Larson and WebMap CEO and co-founder Michael Iron. Elastic Agency's Magnus Gink introduced me around to a few fellows and Phillips Nizer attorney Peter Fields and Asaf Hahami told me about their networking events as well.

With plenty to discuss and wines and hors d'oeuvres being graciously passed around the seventy financial analysts, technology professionals were able to indulge in some extraordinary networking indeed! /