Media Release
BSE wins the 10th annual Red Hat Innovation Award for Infrastructure
Mumbai, Wednesday, June 30th, 2016: BSE proudly announced its recognition for achievement of Successful Deployment of Exchange's New Trading System using open source technology from Red Hat Inc. The Award was presented to BSE at the 10th Annual Red Hat Innovation Awards ceremony held at San Francisco US, on 29th June 2016.
These awards are dedicated to uncover ( appreciate) and promote the work done by BSE in achieving excellence in flexibility, scalability, cost effectiveness, performance and improved security within the deployed Trading System Infrastructure. For two decades, BSE faced challenges under the weight of its proprietary technologies and found that old infrastructure had limitations in innovation, apart from the elevated cost of upgrades and thereby finding its systems economically unfeasible. To improve this, BSE collaborated with Red Hat to build an entirely new trading system on open source technology, powered by Red Hat Enterprise Linux Operating System.
Post this development and its deployment, BSE has increased the volume from 10 million orders a day to 500 million plus orders a day, cut hardware costs by 66 percent, and has also increased its trading speed from 10 milliseconds to 6 microseconds.
About BSE
BSE (Formerly Bombay Stock Exchange), established in 1875, BSE is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange groups and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base which includes two leading global exchanges, Deutsche Bourse and Singapore Exchange as strategic partners. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs). BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. Indian Clearing Corporation Limited, the wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on BSE platform and provides full novation, guaranteeing the settlement of all bonafide trades executed on the BSE Platform. BSE Institute Ltd, a fully owned subsidiary of BSE, runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), a subsidiary of BSE, is one of the two Depositories in India.
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Yatin Padia / Deepika Shetty
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