Morgan Stanley is developing a global electronic trading infrastructure based on distributed object computing technology from Persistence Software. The investment banking giant will pay $3.65 million to use Persistence?s Live Object Cache technology to develop object-relational application servers for traders.
Persistence was founded in 1991 to build software to bridge the gap between relational and object oriented data stores, a gap that has been a factor in the relatively slow growth of the object database market. Persistence products allow for the coexistence of legacy relational systems alongside next generation object-based applications.
Initial implementation of aspects of the Morgan Stanley system will begin at the end of this year. The new application servers are intended to improve the speed with which critical business information is updated in the company?s risk management operations.
As part of the contract - which is the biggest single order in Persistence?s history - the software firm will incorporate a Morgan Stanley -developed event notification application, Object Filter, into future releases of its own products.
The deal is the latest development in a long-running relationship between the two companies. Persistence has received two rounds of venture capital funding from Morgan Stanley, which also placed its general manager William Harding on the software firm?s board of directors.
Distributed object techology like this was identified at last month?s Object World trade show in Boston as one of the major enabling factors for any full scale move to electronic commerce. Persistence products are based on an implementation of the Object Management Group?s Corba object request broker.
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