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View Full Version : Towards a better EDI process



Allardt Young
15th August 2010, 08:59 PM
The EDI (Electronic Data Interchange) process comprises of the following three subsystems:
• Translation of business data: The EDI enabling software translates the outbound file from the business application into an EDI format ‘document’, that conforms to the message standards agreed between the trading partners
• Transmission and reception of data: The EDI ‘document’ is transmitted using a mutually agreed communication methodology agreed between the trading partners
• Re-translation of data: On receipt of the EDI ‘document’, the recipient organization uses its own EDI enabling software and re-translates the inbound ‘document’ back into a format which can be used by its own business application

A secured, efficient, scalable and nationwide communication network is the backbone of the operations of the various stock exchanges. These exchanges use a combination of leased lines from the public or private communication service providers or the satellite network. Such a network is proprietary. It is a ‘value-added network’.

With respect to stock trade online (http://www.worldtradesource.com/) operations raises two basic questions, which an investor would like to know:

1. How is the communication network used by the users secured?
2. What is that which is widely known as the virtual network?

Consider the Value Added Network (VAN). Suppose, Broker ‘A’ has received order to sell shares of Dell and broker ‘B’ has received orders to buy shares of Dell. Broker ‘A’ and ‘B’ will key in their orders at their respective Trader Work Stations (TWSs). The data is transmitted as follows:

1. Broker ‘A’ gets in touch via the leased lines with the stock exchange
2. The stock exchange intimates broker ‘A; via the network after the order has been confirmed by the trading system
3. Broker ‘B’ gets in touch via the leased lines with the stock exchange
The stock exchange intimates broker ‘B’ via the network after the order has been confirmed by the trading system

Book
15th August 2010, 09:42 PM
With respect to stock trade online (http://www.worldtradesource.com/) operations raises two basic questions, which an investor would like to know:



First post by this user is spam for this website: http://www.worldtradesource.com/

:ROFL: