Johannesburg Stock Exchange Following London Stock Exchange And Switching To Linux
Around a year ago, the London Stock Exchange announced their decision to switch their trading platform to one based on Linux. By moving to Linux, they have been able to achieve record speed which is half of that of its main rival stock exchange.
Following in the footsteps of the London Stock Exchange, the Johannesburg Stock Exchange has also announced its plan to switch over to a Linux-based system. Right now the Johannesburg Stock Exchange runs the TradeElect platform – the same platform that the London Stock Exchange used. They plan to replace TradeElect, which is based on Microsoft .NET ans SQL Server 2000, to the Linux-based Millennium Exchange developed by MilleniumIT.
The migration is expected to start in the first half of 2012, and like the case with the London Stock Exchange, they are expecting a 400 times increase in the transaction speed.
Leanne Parsons, Johannesburg Stock Exchange Chief Operating Officer, had this to say about the decision to move to Linux:
We are excited about working with MillenniumIT and providing benefits to our market using their technology solutions. In our experience, whenever we take a step forward with our trading technology, trading volumes also follow. If we want to remain a world-class and relevant exchange in a highly competitive industry, we must remain abreast of technological advances.
One of the main reason for the decision to move to Linux is speed. Another reason is the cost. While the operational cost of the new system will remain approximately the same as that with TradeElect, Parson says that with the new platform, they can aggressively increase the trading volume without incurring a corresponding increase in the software cost.
The adoption of this Linux-based system by the Johannesburg Stock Exchange signals that Linux is being increasingly viewed as a platform capable of providing enterprise solutions, not just web-servers. If the system at the Johannesburg Stock Exchange performs as expected maybe a few more stock exchanges will also consider moving to Linux.
You can read the full press release here.
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Author: Ricky Laishram
Ricky Laishram is a Linux and FOSS enthusiast. He is passionate about open source technologies and likes to keep abreast with the latest developments in KDE and Ubuntu. He also loves listening to music and is a huge Tegan snd Sara fan. You can follow him on twitter @ricky_lais.Ricky Laishram has written 230 articles for us.
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Linux is actually quite popular as an Enterprise platform already.