CSC and MIAX Technologies Target Faster, Cheaper Apps Testing for Trading Desks
November 19 2015 - 9:00AM
Business Wire
Joint Solution Improves Efficiency, Reliability
and Time-to-Market for New Software Releases
CSC (NYSE: CSC), a global leader in next-generation IT services
and solutions, and Miami International Technologies, LLC (MIAX
Technologies), a wholly owned subsidiary of Miami International
Holdings, Inc. and affiliate of Miami International Securities
Exchange, LLC (MIAX), today announced they are teaming up to help
capital markets clients improve the efficiency, reliability and
quality of their applications testing and quality assurance.
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Together the two companies will bring to market the CSC/MIAX
Technologies “Verify” solution, which promises to help financial
services firms improve quality and time-to-market of new software
releases, while significantly reducing testing costs.
Banks and capital market firms today are struggling to keep pace
with the increasing demands placed on IT and applications testing
capabilities by businesses, customers, and regulators. The most
critical front-and back-office applications supporting a trading
desk ecosystem, for example, regularly experience changes or
upgrades requiring functional and compliance testing before they
can be deployed. Compounding the problem, many investment banks and
trading desks still approach applications testing manually.
To stay competitive, financial services firms not only need to
shorten release cycles by improving the quality of code, but also
stem rising quality assurance and testing-related expenditures,
which have grown significantly over the last few years and continue
to grow at an accelerated rate.
“The Verify solution is a MIAX patented testing process that
helps banking and capital markets clients speed time-to-market and
dramatically reduce costs,” said Mike Steinharter, vice president
& general manager, banking & capital markets industry, CSC.
“The solution, currently in use by the MIAX Options Exchange, helps
financial institutions quickly respond to market changes and
customer needs confidently and cost-efficiently with new product
releases.”
“In addition to improved quality, efficiency and dramatically
lower testing costs,” said Doug Schafer, chief information officer
and president of MIAX Technologies, “the Verify framework has
helped the MIAX Options Exchange to create a culture of risk
mitigation and compliance by enabling repeatable and defined
processes that are supported by an automated audit trail.”
The Verify framework provides automated, continuous validation
of the entire ecosystem, regardless of asset class or underlying
client infrastructure. This allows other business stakeholders such
as quality assurance, risk management and compliance to leverage
it, too. The tool can be used by the business when introducing new
functionality to understand potential impacts while also validating
those changes in new software releases.
The new CSC/MIAX Technologies “Verify” solution is available
today. To learn more about CSC Banking & Capital Markets
portfolio, visit http://www.csc.com/banking.
About CSC
Computer Sciences Corporation (CSC) is a global leader of next
generation information technology (IT) services and solutions. The
Company's mission is to enable superior returns on our clients’
technology investments through best-in-class industry solutions,
domain expertise and global scale. CSC has approximately 70,000
employees and reported revenue of $11.3 billion for the 12 months
ended October 2, 2015. For more information, visit the company's
website at www.csc.com.
About MIAX Technologies
Miami International Technologies, LLC (MIAX Technologies) is a
wholly-owned subsidiary of Miami International Holdings, Inc.
(MIH). MIAX Technologies is MIH’s technology subsidiary for the
sale and/or license of MIAX trading technology. For more
information, visit www.MIAXOptions.com.
Disclaimer and Cautionary Note Regarding Forward-Looking
Statements
The press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any securities of MIH, and
shall not constitute an offer, solicitation or sale in any state or
jurisdiction in which such offer; solicitation or sale would be
unlawful. This press release may contain forward-looking
statements, including forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, but are not limited to,
statements concerning the plans, objectives, expectations and
intentions and other statements that are not historical or current
facts of MIH, together with its subsidiaries, including MIAX
Options or MIAX Technologies (together, the Company).
Forward-looking statements include, but are not limited to,
statements about the possible or assumed future results of
operations of the Company; the competitive position of the Company;
potential growth opportunities available to the Company; the
expectation with respect to securities, options and future markets
and general economic conditions; the effects of competition on the
Company’s business; and the impact of future legislation and
regulatory changes on the Company’s business. Forward-looking
statements are based on the Company’s current expectations and
involve risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in such
forward-looking statements.
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CSC ContactsRichard Adamonis, Global Communications,
CSC862-228-3481radamonis@csc.comorNeil DeSilva, Investor Relations,
CSC703-641-3000neildesilva@cs.comorMIAX ContactDominique
Prunetti-Miller, Investor Relations, MIAX
Technologies609-897-1465dprunetti@miami-holdings.com
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