In another competitive replacement for Big Blue, IBM said ETrade Korea has selected IBM Power Systems to run its new online trading system over Oracle servers
that ETrade Korea has selected IBM Power Systems to replace a series of
Oracle/Sun servers in its online trading system.
on March 9 that ETrade Korea is deploying a new online trading system based on
IBM Power Systems that can settle up to 970,000 financial transactions per hour
in real-time16 percent faster than with the previous technology platform based
on Oracle/Sun Solaris servers.
Big Blue said this move represents ETrade Koreas commitment to IBM's Smarter
Computing approach to information technology to support its growth in the
increasingly competitive and complex financial services market. With enhanced
online services, ETrade Korea's 200,000 customers will be able to more quickly
access up-to-date account information, stock quotes, community bulletin boards
and online help features to better manage their financial portfolios.
has the world's second-largest online trading market, with more than 40 percent
of trades conducted online, according to the Korea Securities Dealers
Association (KSDA). ETrade Korea offers trading in Korea Stock Exchange (KSE)
listed securities, as well as KOSDAQ equities, futures, options, beneficiary
certificates and mutual funds.
respond to fast-changing market conditions and customer demand for new
services, ETrade Korea worked with IBM Business Partner LG CNS to replace its
existing Oracle/Sun Solaris systems with IBM POWER7 processor-based systems to
gain higher system use, availability and flexibility. By matching its IT
workload to a system that's optimized for the task, ETrade Korea is increasing
its IT services capacity while keeping costs low.
is to secure a more advanced level of IT competitiveness than other companies
by delivering better customer experiences," said Hoon Ki Jung, CIO and
managing director for ETrade Korea, in a statement. "With IBM Power
Systems, ETrade Korea will be able to establish a stable and optimized IT
environment that supports the company's future business growth, while
increasing our current operational efficiency and cost effectiveness."
With the new
technology infrastructure platform, ETrade Korea will be able to directly
integrate its front-end business applications with back-end processes that are
linked to the Korea Stock Exchange, resulting in higher transaction results per
hour, IBM said. In addition, ETrade Korea will be able to quickly analyze
customer activities to draw insights for the company's up-selling and
cross-selling marketing efforts. ETrade Korea will also be able to use the new
platform for business application development.
Korea required a secure and robust IT platform to support its enhanced
financial products and services, and chose IBM Power Systems for its unparalleled
performance and stability," said Kyunghoon Cho, vice president of IBM
Korea, in a statement. "Like ETrade Korea, a number of securities
companies in Korea are turning to a Smarter Computing model from IBM to improve
customer service and support their rapid business growth in this fast-moving
said this move is another example of a number of successful competitive
takeouts for IBM Power Systems versus Oracle and HP. At a recent IBM Smarter
Computing event in New York, Rod Adkins, senior vice president of IBMs Systems
and Technology Group, said in the fourth quarter of 2011, Power Systems had
more than 350 competitive displacements, which resulted in more than $350
million of business. Roughly 60 percent of this business came from HP, with
most of the balance coming from Oracle/Sun, he said.
Darryl K. Taft covers the development tools and developer-related issues beat from his office in Baltimore. He has more than 10 years of experience in the business and is always looking for the next scoop. Taft is a member of the Association for Computing Machinery (ACM) and was named 'one of the most active middleware reporters in the world' by The Middleware Co. He also has his own card in the 'Who's Who in Enterprise Java' deck.