IBM today announced that SLIB, a leading software publisher and Application Services Provider for the European financial services industry, has upgraded its IT infrastructure with an innovative new IBM System to streamline and securely process an estimated 15 million stock market orders this year. The company provides cloud services to 50 European and global financial institutions to conduct their securities business.
Stock markets create some of the most challenging computing environments of any industry. Financial institutions serving their investment clients must flawlessly execute up to millions of transactions each day, managing massive volumes and varieties of financial data while staying on top of regulatory and security requirements.
To meet these challenges, SLIB selected a new IBM Power 770 system equipped with the new POWER7+ processor. The new system is engineered with the latest data security and privacy technology, easily integrates with SLIB's cloud environment, and automatically ramps up processing performance to meet extreme financial market workloads including big data and analytics.
"SLIB clients require the very best financial markets and shareholder services technologies that support their core business strategies. IBM Systems technology helps our company guarantee the highest service levels for our clients, giving us a competitive advantage over other companies that do not invest in innovation. Moreover, the built-in scalability and flexibility of the new Power Systems servers allow us to commit with new clients under very short deadlines," said Philippe Cognet, CEO of SLIB.
Designed specifically for compute intensive workloads such as those required by financial markets, the Power 770, combined with IBM Content Manager, WebSphere MQ and Sterling software, supports environments with high volumes of sensitive data. As a result, SLIB can securely handle millions of securities transactions for each client such as orders and trades, clearing and settlements, and stockholder meeting votes.
"SLIB is finding new ways to grow and lead with IBM technology in a highly competitive industry that is constantly changing," said Alain Henry, Vice President, Systems and Technology Group, IBM France. "Our companies have collaborated on the premise of innovation driving growth for over 20 years, keeping a sharp eye on evolving client needs."
Most Popular Stories
- Dmytro Firtash, Ukrainian Billionaire, Arrested in Vienna
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Obama's Overtime Initiative Praised, Condemned
- Koch Brothers Step up Anti-Obamacare Campaign
- Republicans Warn Obama on Immigration
- Liberty Media Drops Sirius Bid
- FDIC Sues Big Banks Over Rate Manipulation
- Uli Hoeness, Bayern Munich President, Gets Prison for Tax Evasion
- Calumet Photo Files for Bankruptcy
- West Readies Harsh Sanctions Against Russia