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[News] Wall Street Can Now be Powered by the GNU GPL

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Taking It to the Street: Q&A With Marketcetera CEO Graham Miller

,----[ Quote ]
| Marketcetera calls its Automated Trading Platform the first open source 
| platform of its kind for traders, hedge fund managers and broker and dealers. 
| Though open source software is gaining wider acceptance in business, getting 
| the Wall Street world to open up to open source presented a "fairly uphill 
| battle," according to CEO Graham Miller.    



Open source trading platform could be a win for Wall Street

,----[ Quote ]
| Linux and open source software are a key component in the underlying
| infrastructure of the finance industry, but the higher layers of the stack
| are still dominated by a multitude of proprietary, in-house solutions. A
| software startup called Marketcetera aims to change that with a new, open
| source platform for building automated trading systems.


Bringing Open Source Software to Trading Desks

,----[ Quote ]
| Marketcetera, a Silicon Valley-based start-up, has developed open-source
| trading software that it says will make the creation of custom financial
| trading systems easier and cheaper. Rather than creating their own products,
| financial services firms, hedge funds and others can pick up the Marketcetera
| Platform software and use it as a basic framework for their operations. The
| financial companies just plug their algorithms and trading policies into the
| system and let it handle the demanding processing jobs required to obtain and
| analyze financial data.


Trading Up to Open Source

,----[ Quote ]
| The new code that has been added to these established projects is released
| under the GNU GPL v2. That's welcome, but there's a slightly misleading
| statement on the home page regarding downloads...

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