Item    0930870                 93/06/17        10:08 
From:  CONRAD_GEIGER@NEXT.COM@INET#    Internet Gateway 
Subject: Financial Markets Lab Vienna Wins Computerworld
         Object Application Award

News:

For Immediate Release

Contact:

        Rainer Staringer
        Financial Markets Lab
        Technical University Vienna
        Treitlstrasse 3
        1040 Wien
        Austria, EUROPE
        +43(1) 58801-8137
        Email: rainer@fml.tuwien.ac.at


Financial Markets Lab Vienna Wins Computerworld Object Application Award

VIENNA, June 17, 1993 -- The Risk Management System, developed by the
Financial Markets Lab (FML) of the Technical University Vienna, has won the
grand prize in the top category of the Object Management Group's "1993
Computerworld Object Application Awards Contest."

The contest, co-sponsored by Computerworld magazine and the Object Management
Group, is designed to salute organizations and developers who have
successfully implemented object technology in their operations.

The five award categories ranged from "Best Object-Based Application Developed
Using Non-Object Oriented Tools" to the top category, "Best Application
Utilizing Reusable Components Leveraged from or for Use in Other Projects",
where the advantages of object-oriented technology are used to the utmost.

The Risk Management System is a NEXTSTEP-based custom application designed and
developed by FML for Creditanstalt, Austrias leading bank. Creditanstalt uses
the application to monitor and report the risk and performance of portfolios
in their securities trading division.

"The NEXTSTEP environment allowed us to develop a complex custom application
in minimal time through remarkably simple integration with other applications
and existing class libraries. Very little extra code was necessary to harness
the powerful mathematical capabilities of Mathematica and the advanced layout
and report generating functions of Improv for our application. A lot of the
functionality in the finished application did not require any programming at
all. The risk manager himself dragged user interface items from our custom
Interface Builder palette and specified the computations in the form of
Mathematica expressions in the corresponding Inspector panels. The savings in
development time and unnecessary communication overhead between the domain
expert and the programmers were enormous." said Werner Staringer, head of the
Financial Markets Lab.

The winners were announced yesterday at a special ObjectWorld Expo awards
banquet at the Moscone Center in San Franscisco. Steve Jobs, CEO and Chairman
of NeXT Computer, was the master of ceremonies.

The Financial Markets Lab, based at the Institute of Software Technology of
the Technical University Vienna, specializes in financial software. It
maintains strong links with the finance industry and is funded primarily
through external research contracts.

Mathematica is a trademark of Wolfram Research. Improv is a trademark of Lotus
Development Corporation. NEXTSTEP and InterfaceBuilder are trademarks of NeXT
Computer Inc.

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