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2017 | OriginalPaper | Chapter

7. Information Technology

Author : Matthias Kluber

Published in: Equity Markets in Transition

Publisher: Springer International Publishing

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Abstract

Superior information technology (IT) is the essential success factor in any exchange organization worldwide, regardless of the instruments being traded for a panoply of asset classes that can range from shares and bonds to derivatives and commodities.

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previous chapter Securities Services: Settlement, Custody and Financing

next chapter Contractual Relationships Across the Value Chain

Zero Footprint connections do not require special exchange software or hardware installations and maintenance at the member site.

Tandem NonStop was introduced in 1976 and includes a server line as well as the integrated computer operating system NonStop OS.

The computer operating system OpenVMS’s predecessor VAX/VMS was released by Digital Equipment Corporation in 1977.

Open-source software is made available with a license in which the copyright holder allows to use and to change the software for free. Open-source software is often developed in a collaborative public manner.

The order book of a traded instrument is the list of the interests of buyers and sellers with price and quantity.

One order may trigger a cascade of subsequent reactions from other market participants.

Specifically in 2008, a series of sea cable disruptions impacted the data traffic between Europe and the Middle East and Asia.

A network hop represents a networking device on the path between sender and receiver.

Some years ago, telecommunication providers started to deliberately construct short cable connections in nearly straight lines of sight between financial centers. That is despite costs being much higher than they would be for standard routing along existing rail lines or highways.

Wireless connectivity options provide faster alternatives in contrast to cable-based connectivity options.

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Title: Information Technology
Author: Matthias Kluber
Publisher: Springer International Publishing
Book: Equity Markets in Transition
Print ISBN: 978-3-319-45846-5

Electronic ISBN: 978-3-319-45848-9

Copyright Year: 2017
DOI: https://doi.org/10.1007/978-3-319-45848-9_7