There are many ways to accomplish this effect. In photoshop you could use layer styles to create the beveled metallic edges... here are a few settings to get you started.
1. Create the blue rectangle shape
2. Double click on layer to bring up layer styles
3. Click on Bevel and Emboss and try these settings
a. Inner Bevel
c. depth = 115-135
d. size = 4-8
e. soften = 0
f. gloss contour = ring (this is what makes the effect work)
g. highlight mode = 100%
h. Shadow Mode = 90-100%
This should start you in creating the look you are going for... depending on how big your shape is you might need to adjust the settings. I created a canvas of 600px x 200px and my rectangle took about 1/4 of the canvas. From here you can add a satin effect and some glow effects. Once done, add a layer mask and with the black brush lower the opacity a lot and dab the rectangle with the brush to give it some opacity like the picture you posted. Duplicate the same thing for the white rectangle.
You could even leave out the opacity settings and just import into AE and tweak that stuff in there...
Hope this helps, I was going to post a PSD for you to look at but guess I can not attach anything to these forums... let me know if you need any clarification.