Web Services Hits the Big Time -- Quietly

BEFORE THE SPIN

As Maurice Heffernan, the managing director (MD) for IT at State Street Global Markets (SSGM), puts it, "At last, the reality of Web services is catching up to brochure-ware and the hype." Heffernan should know.

For the past year, the mission critical Equity Connect multiple broker electronic equity execution service of SSGM, the sell-side arm of State Street, has been exploiting Web services and a publish/subscribe bus, SonicESB, from Sonic Software that makes use of XML and the Java Message

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