1. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited Making Web Services Work Duncan Johnston-Watt Chief Technology Officer, Enigmatec Corporation W3C Web Services Choreography WG, F2F, Oracle, March 13, 2003

2. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited Within five years Process-oriented Middleware will be the dominant platform for distributed computing Over the next three years Process-oriented Middleware will radically transform our Financial Services infrastructure Proposition

3. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited Gestalt Shift  Message-oriented Middleware  Underpinned by Self-Describing Data  Led to explosion in event-driven programming  Pioneered in Financial Services, SCM, …  Process-oriented Middleware  Underpinned by Self-Executing Logic  Intelligent Infrastructure  Building blocks - Java™ Technology and XML  Formal foundations -  -Calculus  Coming soon to a Financial Services institution near you …

4. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited POM in a Nutshell  Very powerful abstraction  Closer to the holy grail of “Interfacing Thought”  POM is all about what CJ Date calls “What, not how” POM enables –  Processes to be described declaratively  Conversations between processes to be scripted declaratively  Process requirements to be specified declaratively  Resources available to be listed declaratively

5. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited POM in a Nutshell  Facilitates the decomposition, decoupling and distribution of complex business or operational processes  Delivers what the business needs  Dynamic distributed policy management  Automatically compensates for IT constraints  Agility  Enables runtime process optimization  Refracturing

6. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited The Challenge Change in work practices Rapidly changing markets Fundamental change in regulations Fundamental change in business Formulate processes centrally Distribute across IT infrastructure Modify locally without loss of control Support long lived processes Provide lower cost solutions

7. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited Simple Example – Dynamic, Distributed Policy Management Challenge  Needs to provide consistent distributed validation and calculation services to enable the roll out of a New York order management system on a global basis Requirements  Enable change to the validation and calculation rules to be immediate  Enable central control and local personalisation of rules/processes  Massive scalability through high degree of decoupling and distribution  Low total cost of ownership POM  Supports dynamic updating of rules on the fly  Supports central control with local personalisation  Leverages a highly distributed architecture for process execution  Light weight and lower cost solution over a distributed environment

8. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited  Straight Through Processing (STP)  Core business processing  Pricing and Risk Management Services  Process-oriented approach  Distributed analytics  Smart Routing  Process-oriented approach  Intelligent networking POM & Financial Services The bottom line is that enterprises that refuse to provide appropriate funding and management backing to enable the systematic building of their enterprise’s software infrastructure and, specifically, its Enterprise Nervous System (ENS), as part of the worldwide information grid are putting at risk their long-term viability. Gartner Group, August 2002

9. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited POM & Financial Services

10. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited POM & Standards – Web Services Choreography?  POM is an enabling technology for distributed computing solutions  POM can be used in a Web Services play to lower the cost of integration and increase the agility of the offering  What does this mean?

11. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited Recap: The Financial Services landscape XML Opaque Corba/MOM IIOP SvcLookUp  Classic split into Front/Middle/Back office functions  Transactional islands are glued together  Biggest problems …  Integration of data  Integration of processing

12. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited  UDDI – Service repository used to look up services  WSDL – Interface for services  Built on Internet Protocols  Leverages XML  SOAP – The on-the-wire protocol Web Services for Financial Services WSDL SOAP UDDI WSDL

13. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited  The Web  Web Services Stack  Built on Internet Protocols  Leverages XML  Basis for Semantic Integration So What’s New?

14. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited Smart Financial Services  Need to handle choreography  Different scenarios have different conversations  Conversations are composed of sequences, forks, joins etc etc.  Conversation are state-full  transactional contexts  and theads (correlations)  Conversations have local and global behaviour  Choreography defines observable behaviour  Delivers semantic integration WSDL WSCI

15. Strictly Confidential © Copyright 2003 Enigmatec Corporation Limited POM Implements Smart Financial Services  POM delivering just in time integration needed for STP and T+1 between institutions and inside institutions  POM can act as an outsourcing enabler because of it’s mobility WSDL POM