OASIS, the international standards consortium and its members have approved WS-SecureConversation version 1.3 and WS-Trust version 1.3 as OASIS standards. These standards bring new degree of security for web services communications. Application that communicate and share messages using web services framework (like SOAP, WSDL) can use WS-Trust to obtain and exchange security credentials either directly or through third party and use WS-SecureConversation to establish and maintain extended secure session.
Among the industry leaders – IBM, Microsoft, and Sun Microsystems have verified successful implementations of WS-SecureConversation and WS-Trust in accordance and eligibility for all OASIS standards.
More info: http://www.oasis-open.org/news/oasis-news-2007-03-27.php