The second way that comes to mind is to use Microsoft Host Integration Services. Host Integration Server allows you to connect, integrate and even Web-enable a variety of legacy applications, data and transaction environments with a variety of Microsoft products and technologies. This tool is outside my range of expertise, but it is a solution commonly used to support mission-critical mainframe-to-SQL Server data transfer processes.
You might also consider a third party tool such as Attunity.
Dig Deeper on SQL Server Interoperability
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