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[News] More Free Software Enters the Crashing Wall Street

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Open Source Gets Into Wall St. Back Office

,----[ Quote ]
| Tough times for the financial services market doesn't mean tough times for 
| all of the software vendors that support them. Open source trading platform 
| software developer Marketcetera, in particular, sees an increasing number of 
| opportunities for its technology.   
| Marketcetera is now rolling out new back office services for financial 
| services users that leverage Marketcetera's open source Automated Trading 
| Platform. The goal is to give traders an open platform that they can 
| customize without being locked into a proprietary code base.    


Marketcetera Extends Open Source Trading Capabilities to the Back Office



Open Source Gains Vertical Knowledge

,----[ Quote ]
| Wall Street is no stranger to deriving value from open source. Some of the
| world's largest investment banks have been running system-wide installations
| of the Linux operating system for more than a decade.


Red Hat on Mad Money

,----[ Quote ]
| Jim Whitehurst does a good job of publicly dismissing Microsoft while
| claiming not to compete with Windows. My favourite comment though has to
| be “I don’t see Oracle as really assaulting us”.


Red Hat on the NYSE: A big move for open source

,----[ Quote ]
| It means that open source has truly arrived. Extinction for the old
| school vendors can't be too far behind....


Meet the People Who Have Trillions Riding on Linux this Fall

,----[ Quote ]
| NYSE Euronext and its family of exchanges which include the NYSE, Euronext,
| Liffe, Alternext and NYSE Arca Options, operating in the US and Europe, now
| run on Red Hat Linux and look to Red Hat for support and services. Put it
| another way, over 4000 public companies and over $141 billion in daily stock
| transactions depend on Linux. The Chicago Mercantile exchange at last count
| traded 1.403 Billion contracts valued at $827 trillion annually.


Wall Street still likes Linux, but for new reasons

,----[ Quote ]
| A few years ago, financial services firms tended to point to low cost and
| customizability of components as their major reasons for turning to Linux and
| open source. But at the Linux/Open Source on Wall Street show today,
| panelists devoted more of their remarks to topics such as multi-OS server
| consolidation on mainframes and creating realtime Linux applications for PC
| servers, aptly reflecting the growing complexity of software environments in
| financial firms and elsewhere.
| [...]
| Speaking with BetaNews later, however, Graves said that, in his opinion, the
| main benefit of Linux right now is that Linux appllications will run --
| either virtualized, or not -- on virtually any hardware system, including X86
| PCs and mainframes.
| Credit Suisse's Bubba, meanwhile, views the main benefit of Linux as lying in
| its wealth of real-time applications.



Linux steps up to power NZ Stock Exchange

,----[ Quote ]
| The New Zealand Stock Exchange is moving to a Linux platform for its
| settlement and clearing system, replacing its existing HP NonStop platform
| and applications in order to reduce cost and increase flexibility.


HP Linux servers bolster NYSE trading app

,----[ Quote ]
| "We favor Linux for what we do. We don't want to be beholden to any one
| [hardware or software] supplier, even if it is very good. We want the freedom
| to be vendor-independent, so Linux was a good choice," said Rubinow.

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