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NASDAQ Bullish on HP Servers
HP will provide NASDAQ with more than 500 new processors to help the exchange improve its electronic order display and trading execution system.
As part of a new three-year deal, the exchange purchased the processors for the HP NonStop servers it already owns, and extended its license of HP's OpenView management software to make sure the servers run the way they should. The exchange purchased new processors for the HP NonStop servers it already owns, and extended its license of HP's OpenView management software to make sure the servers run the way they should.
While the financial terms were not made public, HP Financial Services has arranged it so the costs of the processors and software license remain flat over the duration of the agreement.
NASDAQ began using NonStop servers in 1982 for core applications. Today, every time a trader accesses the NASDAQ system to place a trade order, the request is routed to an application by a NonStop system.
Off the trading floor, NASDAQ uses NonStop servers for functions such as execution, security and switching, and uses OpenView Network Node Manager to pinpoint network problems through root cause analysis. NASDAQ also uses HP StorageWorks Reference Information Storage System (RISS) to protect its files.
While the deal may seem par for the course for HP, it is actually quite crucial given the cutthroat competition on Wall Street, where systems vendors like HP, IBM and Sun Microsystems vie for big accounts.
IBM recently enhanced its agreement with the New York Stock Exchange (NYSE), offering handheld devices, Linux workstations and assorted middleware. Sun made an aggressive plea for customer support last fall.
To be sure, HP has a major client in the NASDAQ, which on a daily basis handles 7.5 million quote updates, 4.2 million trade reports, 2.6 million orders and 2.3 billion shares.
The exchange currently boasts 700 trading firms of various sizes as customers in a market analysts believe will grow at a projected rate of 35 percent a year, largely on the boom in online trading.
Article originally appeared on Internetnews.com.