Wall Street Leads the

By Darryl K. Taft  |  Posted 2004-05-01 Print this article Print

Way"> "Wall Street is always the first to adopt anything, and then it looks around at the rest of the country and says, Why is everybody following us?" said Sam Greenblatt, senior vice president and chief architect of the Linux Technology Group at Computer Associates International Inc., in Islandia, N.Y. "We believe service orientation absolutely plays well on Linux."

As part of its effort to support the development of modular applications and services, CA will join the Eclipse Foundation, which offers open-source development tools. "We will be announcing our joining of the Eclipse group, and we will do a complete application deployment model," Greenblatt said.

Greenblatt said that according to analyst estimates, the worldwide market for Linux will be $6 billion by 2006. In addition, he said, eight out of nine Wall Street companies are using Linux in production for key applications such as derivative processing, securities clearing, portfolio repricing and client retention.

Financial services companies are embracing Linux and grid computing because of the speed and power of the clustered technology that can be applied to market data, credit risk, trade management and anti-money-laundering applications, said John Vitkus, Linux executive for IBMs Financial Markets division, in Armonk, N.Y. IBM sells grid-enabled applications to various market sectors, including financial services.

"Virtualization and the utilization of technology is not anywhere near where it needs to be," Vitkus said. "And grid computing enables you to use more capacity than typically available today."

The demands of financial markets require enterprises to "increase the differentiation of the business model to react more quickly," said Guy Baker, director of strategic engineering at Veritas Software Corp., in Mountain View, Calif. "There are two things you can do: service-oriented architecture or outsource."

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.

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