Investment banks are facing quicker settlement times, lower operating margins and the drive to automate manual processes for online Web delivery of services.

The Sun Microsystems and Morse initiative covers the technical architecture, applications, systems integration, consultancy and platform required to re-engineer systems to handle these market sector changes.

The initiative, supported by a major advertising campaign, was launched on July 16. The campaign is focused on Bank tube station in the heart of the City.

A re-engineering service will be delivered using Sun Microsystems technology running middleware and business applications provided by Capco, Royal Blue, ADP Wilco and Spiritsoft.

Solutions will be designed on a case-by-case basis by Morse and Sun Microsystems. These will be responsible for systems integration and consultancy, using the most appropriate architectural components and applications partners.

Companies can see the Investment Banking Showcase, a proof-of-concept built on Java to J2EE (Java 2 platform Enterprise Edition) standards at Sun Microsystems' City offices, the new Morse offices from September or via an Internet browser. Morse and Sun will provide a team of consultants to produce a review of a company's IT infrastructure and recommend the most suitable route forward.

John Pitcher, finance sales manager, Morse says: "Investment banking is undergoing radical change and banks are running business-critical processes on systems 'feeling' the strain of increased automation and faster transaction times."

Nigel Woodward, worldwide manager for capital markets and securities, Sun Microsystems, comments: "Banks have to move now to manage the transition and minimise the disruption to business. The e-Capital markets initiative, with its access to Sun Microsystems and Morse's entire financial services capabilities, offers a long term solution."