Oracle Web Services Manager is a component of the SOA Suite that allows the central implementation and enforcement of policies to service endpoints, service engines, and Java services in general. Policies that can be implemented include:
Policies can be attached at design-time using JDeveloper or at runtime using Oracle Enterprise Manager Fusion Middleware Control. Some policies (for example, security policies) are best applied through Fusion Middleware Control as through this console, using policy sets, policies can be attached globally to all composites deployed. Other policies that are more ad-hoc (aimed at addressing specific use cases) are best attached through JDeveloper. For example, an MTOM policy is usually attached during design-time stages, when a designer or developer might wish to make use or try an MTOM policy to support, in an optimized fashion, a requirement to handle a large attachment within a service call.
For further information on WSM we recommend:
OFM Security and Administrator's Guide for Web Services
http://docs.oracle.com/cd/E28280_01/web.1111/b32511/toc.htm
For further information on developing custom policies please refer to:
OFM Extensibility Guide for Oracle Web Services Manager