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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

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| 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.    
`----

http://www.internetnews.com/software/article.php/3779671/Open+Source+Gets+Into+Wall+St+Back+Office.htm

Marketcetera Extends Open Source Trading Capabilities to the Back Office

http://www.marketwatch.com/news/story/marketcetera-extends-open-source-trading/story.aspx?guid=%7B77CDCD85-6B52-4BE3-94CD-4459CDDD3E06%7D&dist=hppr


Recent:

Open Source Gains Vertical Knowledge

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| 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.
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http://www.dealingwithtechnology.com/public/showPage.html?validate=0&page=dwt_login&url=%2Fpublic%2FshowPage.html%3Fpage%3D813534
http://tinyurl.com/5hm279


Red Hat on Mad Money

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| 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”.
`----

http://blogs.the451group.com/opensource/2008/07/31/red-hat-on-mad-money/


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....
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http://weblog.infoworld.com/openresource/archives/2006/12/red_hat_on_the.html


Meet the People Who Have Trillions Riding on Linux this Fall

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| 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.
`----

http://www.linux-foundation.org/weblogs/jzemlin/2008/07/09/meet-the-people-who-have-trillions-riding-on-linux-this-fall/


Wall Street still likes Linux, but for new reasons

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| 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.
`----

http://www.betanews.com/article/Wall_Street_still_likes_Linux_but_for_new_reasons/1207083805


Related:

Linux steps up to power NZ Stock Exchange

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| 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.
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http://computerworld.co.nz/news.nsf/news/F586239BCCA7593FCC2573F00001488E


HP Linux servers bolster NYSE trading app

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| "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.
`----

http://searchenterpriselinux.techtarget.com/originalContent/0,289142,sid39_gci1285921,00.html
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