11.26.09

Gemini version available ♊︎

LSE Must Hurry up Migrating to GNU/Linux (Windows Has Just Crashed Again)

Posted in Europe, Finance, GNU/Linux, Microsoft, Servers, Windows at 1:50 pm by Dr. Roy Schestowitz

Reliable times  FUD fail

Summary: The trading system in London suffered another major crash this morning and a permanent GNU/Linux replacement is on its way

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]).

A report that has arrived just now (several readers alerted us about it) says that LSE went down again. From the BBC:

Trading on the London Stock Exchange (LSE) has been brought to a halt by technical difficulties.

From IDG (UK):

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.

Interestingly enough, it was only one day ago that the very same publication released a report titled “London Stock Exchange takes £20m hit on almost redundant TradElect platform”

As this article clearly shows, the transition to GNU/Linux has not occurred yet.

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.

The LSE must be relieved this time around because in spite of today’s downtime, it is aware that haven is in sight. That haven is GNU/Linux and Free software. A lot of the world uses exactly that for trading platforms and Microsoft’s experiment in London failed badly and relatively quickly. The natural conclusion is that Microsoft is not suitable for mission-critical systems.

“Every time you use Google, you’re using a machine running the Linux kernel.”

Chris DiBona, Google

Crowd outside NYSE
A solemn crowd gathers outside the
Stock Exchange after the crash (1929)

Share in other sites/networks: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Reddit
  • email

Decor ᶃ Gemini Space

Below is a Web proxy. We recommend getting a Gemini client/browser.

Black/white/grey bullet button This post is also available in Gemini over at this address (requires a Gemini client/browser to open).

Decor ✐ Cross-references

Black/white/grey bullet button Pages that cross-reference this one, if any exist, are listed below or will be listed below over time.

Decor ▢ Respond and Discuss

Black/white/grey bullet button If you liked this post, consider subscribing to the RSS feed or join us now at the IRC channels.

5 Comments

  1. NotZed said,

    November 26, 2009 at 4:32 pm

    Gravatar

    `epic fail’ is a pretty horrible term seemingly borne out of a severe lack of adjectives in modern lingo.

    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 Reply:

    See: Furse should not resign, she should be sacked

    The farce of the London Stock Exchange not only crashing but failing to get its systems up and running again should surprise no one.

    Well, no one except LSE boss Clara Furse, who demonstrates little understanding that technology is crucial to her business.

    I’ve worked for members of the London Stock Exchange and everyone agrees she is world-class at corporate presentations, but the evidence that she can actually run things is rather harder to come by.

    No one expects her to write FIX handlers, or optimise an order-matching engine, but her yes-men simply were not in the position to make any intelligent decisions on technology, if we look at the board of the LSE.

    Do we see anything that even looks like experience in technology? No. We see three from the media, and of course accountancy, but no mention of technology.

  2. jocaferro said,

    November 26, 2009 at 5:20 pm

    Gravatar

    Still ““…

    The London Stock Exchange needed a scalable, reliable, high-performance, and agile stock exchange ticker plant to replace an outmoded system. About 40 per cent of its revenue comes from selling real-time market data.

    Ya, ya…

  3. jocaferro said,

    November 26, 2009 at 5:28 pm

    Gravatar

    Sorry.
    Still mentioned as a real sucess at “Get the Facts”

    Roy Schestowitz Reply:

    People eventually got The Facts, but not Microsoft’s distorted version of them.

DecorWhat Else is New


  1. [Meme] Germany's Licence to Break the Law

    Remember that the young Campinos asked dad for his immunity after he had gotten drunk and crashed the car; maybe the EPO should stop giving diplomatic immunity to people, seeing what criminals (e.g. Benoît Battistelli) this attracts; the German government is destroying its image (and the EU’s) by fostering such corruption, wrongly believing that it’s worth it because of Eurozone domination for patents/litigation



  2. EPO Dislikes Science and Scientists

    The EPO's management has become like a corrupt political party with blind faith in money and monopolies (or monopoly money); it has lost sight of its original goals and at this moment it serves to exacerbate an awful pandemic, as the video above explains



  3. Links 1/12/2021: LibreOffice 7.3 Beta, Krita 5.0, Julia 1.7

    Links for the day



  4. Links 1/12/2021: NixOS 21.11 Released

    Links for the day



  5. IRC Proceedings: Tuesday, November 30, 2021

    IRC logs for Tuesday, November 30, 2021



  6. Links 1/12/2021: Tux Paint 0.9.27 and WordPress 5.9 Beta

    Links for the day



  7. [Meme] EPO Administrative Council Believing EPO-Bribed 'Media' (IAM Still Shilling and Lying for Cash)

    IAM continues to do what brings money from EPO management and Team UPC, never mind if it is being disputed by the patent examiners themselves



  8. The EPO's Mythical “Gap” Has Been Found and It's Bonuses for People Who Use Pure Fiction to Steal From Patent Examiners

    The phony president who has the audacity to claim there's a budget gap is issuing millions of euros for his enablers to enjoy; weeks ahead of the next meeting of national delegates the Central Staff Committee (CSC) tells them: "Events show that the delegations’ concerns about functional allowances have materialised. The lack of transparency and inflation of the budget envelope gives rise to the suspicion that high management is pursuing a policy of self-service at the expense of EPO staff, which is difficult to reconcile with the Office’s claimed cost-saving policy, and to the detriment of the whole Organisation."



  9. Video: Making the Internet a Better Place for People, Not Megacorporations

    Following that earlier list of suggested improvements for a freedom-respecting Internet, here's a video and outline



  10. Links 30/11/2021: KDE Plasma 5.23.4, 4MLinux 38.0, Long GitHub Downtime, and Microsoft's CEO Selling Away Shares

    Links for the day



  11. A Concise Manifesto For Freedom-Respecting Internet

    An informal list of considerations to make when reshaping the Internet to better serve people, not a few corporations that are mostly military contractors subsidised by the American taxpayers



  12. Freenode.net Becomes a 'Reddit Clone' and Freenode IRC is Back to Old Configurations After Flushing Down Decades' Worth of User/Channel Data and Locking/Shutting Out Longtime Users

    Freenode is having another go; after “chits” and “jobs” (among many other ideas) have clearly failed, and following the change of daemon (resulting in massive loss of data and even security issues associated with impersonation) as well as pointless rebrand as “Joseon”, the domain Freenode.net becomes something completely different and the IRC network reopens to all



  13. Jack Dorsey's Decision is a Wake-up Call: Social Control Media is Just a Toxic Bubble

    The state of the World Wide Web (reliability, preservation, accessibility, compatibility etc.) was worsened a lot more than a decade ago; with social control media that’s nowadays just a pile of JavaScript programs we’re basically seeing the Web gradually turning into another Adobe Flash (but this time they tell us it’s a “standard”), exacerbating an already-oversized ‘bubble economy’ where companies operate at a loss while claiming to be worth hundreds of billions (USD) and generally serve imperialistic objectives by means of manipulation like surveillance, selective curation, and censorship



  14. IRC Proceedings: Monday, November 29, 2021

    IRC logs for Monday, November 29, 2021



  15. Links 29/11/2021: NuTyX 21.10.5 and CrossOver 21.1.0

    Links for the day



  16. This Apt Has Super Dumbass Powers. Linus Sebastian and Pop_OS!

    Guest post by Ryan, reprinted with permission



  17. [Meme] Trying to Appease Provocateurs and Borderline Trolls

    GNU/Linux isn’t just a clone of Microsoft Windows and it oughtn’t be a clone of Microsoft Windows, either; some people set themselves up for failure, maybe by intention



  18. Centralised Git Hosting Has a Business Model Which is Hostile Towards Developers' Interests (in Microsoft's Case, It's an Attack on Reciprocal Licensing and Persistent Manipulation)

    Spying, censoring, and abusing projects/developers/users are among the perks Microsoft found in GitHub; the E.E.E.-styled takeover is being misused for perception manipulation and even racism, so projects really need to take control of their hosting (outsourcing is risky and very expensive in the long run)



  19. Links 29/11/2021: FWUPD's 'Best Known Configuration' and Glimpse at OpenZFS 3.0

    Links for the day



  20. President Biden Wants to Put Microsofter in Charge of the Patent Office, Soon to Penalise Patent Applicants Who Don't Use Microsoft's Proprietary Formats

    The tradition of GAFAM or GIAFAM inside the USPTO carries on (e.g. Kappos and Lee; Kappos lobbies for Microsoft and IBM, whereas Lee now works for Amazon/Bezos after a career at Google); it's hard to believe anymore that the USPTO exists to serve innovators rather than aggressive monopolists, shielding their territory by patent threats (lawsuits or worse aggression) and cross-licensing that's akin to a cartel



  21. Microsoft GitHub Exposé — Part VIII — Mr. Graveley's Long Career Serving Microsoft's Agenda (Before Hiring by Microsoft to Work on GitHub's GPL Violations Machine)

    Balabhadra (Alex) Graveley was promoting .NET (or Mono) since his young days; his current job at Microsoft is consistent with past harms to GNU/Linux, basically pushing undesirable (except to Microsoft) things to GNU/Linux users; Tomboy used to be the main reason for distro ISOs to include Mono



  22. Dr. Andy Farnell on Teaching Cybersecurity in an Age of 'Fake Security'

    By Dr. Andy Farnell



  23. IRC Proceedings: Sunday, November 28, 2021

    IRC logs for Sunday, November 28, 2021



  24. Links 29/11/2021: Linux 5.16 RC3 and Lots of Patent Catch-up

    Links for the day



  25. By 2022 0% of 'News' Coverage About Patents Will Be Actual Journalism (Patent Litigation Sector Has Hijacked the World Wide Web to Disseminate Self-Promotional Misinformation)

    Finding news about the EPO is almost impossible because today’s so-called ‘news’ sites are in the pockets of Benoît Battistelli, António Campinos, and their cohorts who turned the EPO into a hub of litigation, not science; this is part of an international (worldwide) problem because financial resources for journalism have run out, and so the vacuum is filled/replaced almost entirely by Public Relations (PR) and marketing



  26. Trying to Appease Those Who Never Liked Free Software or Those Who Blindly Loved All Patent Monopolies to Begin With

    It’s crystal clear that trying to appease everyone, all the time, is impossible; in the case of the EPO, for example, we hope that exposing Team Battistelli/Campinos helps raise awareness of the harms of patent maximalism, and when speaking about Free software — whilst occasionally bashing the alternatives (proprietary) — we hope to convince more people to join the “Good Fight”



  27. Links 28/11/2021: Laravel 8.73 Released, GitHub Offline for Hours

    Links for the day



  28. IRC Proceedings: Saturday, November 27, 2021

    IRC logs for Saturday, November 27, 2021



  29. Links 27/11/2021: Nvidia’s DLSS Hype and Why GNU/Linux Matters

    Links for the day



  30. [Meme] Linus Gabriel Sebastian Takes GNU/Linux for a (Tail)'Spin'

    If you’re trying to prove that GNU/Linux is NOT Windows, then “haha! Well done…”


RSS 64x64RSS Feed: subscribe to the RSS feed for regular updates

Home iconSite Wiki: You can improve this site by helping the extension of the site's content

Home iconSite Home: Background about the site and some key features in the front page

Chat iconIRC Channel: Come and chat with us in real time

Recent Posts