THE WINDOWS-BASED London Stock Exchange (LSE) has been a total catastrophe not only to London but also to Microsoft's case study against GNU/Linux. The very same "poster child" Microsoft was bragging about in its smears against GNU/Linux is going to move to GNU/Linux, having abandoned the entire Microsoft stack (following repeated failures [1, 2]).
Trading on the London Stock Exchange (LSE) has been brought to a halt by technical difficulties.
Technical problems led to the suspension of trading in some FTSE 100 stocks on the London Stock Exchange this morning.
[...]
Last month, the LSE announced it will acquire Sri Lankan trading firm Millennium IT for €£18 million, replacing its Accenture built, Microsoft .Net-based TradElect platform. The new platform is understood to be based on Linux.
The often troubled TradElect system remains five times slower than rivals' reported speeds. It was upgraded in 2008 by Accenture at a cost of €£40 million, is based around Microsoft .Net architecture and runs on HP ProLiant servers with Cisco networking technology.
It is due to be replaced at the end of next year by an open source based platform built by MillenniumIT, which the LSE acquired in September for €£18 million.
[...]
The system is aimed at saving the LSE over €£10 million a year from 2012. It will also bring in-house the LSE’s software development, provide “dedicated research and development support”, and offer new revenue streams by selling technology to other financial markets.
Profits at the stock exchange tumbled for the six months by 37 percent to €£79 million. The exchange reiterated that it hopes an ongoing cost cutting exercise and management restructure will save it over €£11 million a year.
A solemn crowd gathers outside the
Stock Exchange after the crash (1929)
Comments
NotZed
2009-11-26 21:32:48
It does however perfectly sum up this situation.
I hope the people involved lost jobs for `choosing Microsoft' on this one. But then again anyone involved in the paper economy seems to be immune from any mistake lately.
Roy Schestowitz
2009-11-26 22:03:08
jocaferro
2009-11-26 22:20:36
Ya, ya...
jocaferro
2009-11-26 22:28:30
Roy Schestowitz
2009-11-26 22:33:01