Transatlantic exchange Nyse Euronext has migrated its electronic trading infrastructure to the Linux operating system under a deal with open source vendor Red Hat.
The exchange has moved to its Enterprise Linux and Network software to help integrate various trading platforms following its mergers Archipelago in 2006 and Euronext in 2007, says Red Hat.
Red Hat says its software maintains the reliability, high performance and security of Nyse Euronext's trading platform, helping the exchange to realise greater flexibility, freedom from vendor lock-in, cost savings and the ability to handle heavy workloads.
The vendor says as the exchange continues to convert to the open source software and pursue growth plans, Nyse Euronext will add several hundred more Red Hat Enterprise Linux subscriptions over the next 18 months.
Explaining the decision to choose Red Hat, Steve Rubinow, chief information officer, Nyse Euronext, says: "The pace of electronic trading has picked up dramatically, and across the enterprise, the 6.5 hours that comprise the main part of our trading day includes the processing of billions of messages. With the combination of speed, cost, reliability and functionality pushed to the limit, we have to out perform the competition in each category."
"Linux as an operating system has been the fastest growing with respect to these requirements, and we're not limited by what's in front of us. The quality of the Linux platform is greatly important to us and Red Hat Enterprise Linux has exceeded our expectations," he adds.
Nyse Euronext's London-based derivatives exchange Liffe teamed with Red Hat to move its trading platform the Linux operating system in 2006.
Earlier this year Nyse Euronext said it stands to realise over $250 million in annual run-rate technology savings by the end of 2010 by buying out Atos Origin's stake in the Atos Euronext Market Solutions (AEMS) joint venture and bringing its IT operations back in house.
Nyse Euronext said in December that it had "agreed in principle" to acquire the 50% stake in AEMS held by Atos Origin and repurchase ownership of the NSC cash trading and Liffe Connect derivatives trading platforms, as well as AEMS's third-party exchange technology business for EUR275 million.