Close
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Subscribe
Logo
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Subscribe
    Home Applications
    • Applications
    • Development
    • IT Management
    • Networking

    IBM Power Systems Replace Oracle Servers at ETrade Korea

    Written by

    Darryl K. Taft
    Published March 9, 2012
    Share
    Facebook
    Twitter
    Linkedin

      eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

      IBM announced that ETrade Korea has selected IBM Power Systems to replace a series of Oracle/Sun servers in its online trading system.

      IBM announced 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-time€”16 percent faster than with the previous technology platform based on Oracle/Sun Solaris servers.

      Officials at Big Blue said this move represents ETrade Korea€™s 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.

      Korea currently 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.

      To better 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.

      “Our goal 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.

      “ETrade 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 market.”

      Moreover, IBM 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 IBM€™s 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
      Darryl K. Taft
      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.

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      MOST POPULAR ARTICLES

      Artificial Intelligence

      9 Best AI 3D Generators You Need...

      Sam Rinko - June 25, 2024 0
      AI 3D Generators are powerful tools for many different industries. Discover the best AI 3D Generators, and learn which is best for your specific use case.
      Read more
      Cloud

      RingCentral Expands Its Collaboration Platform

      Zeus Kerravala - November 22, 2023 0
      RingCentral adds AI-enabled contact center and hybrid event products to its suite of collaboration services.
      Read more
      Artificial Intelligence

      8 Best AI Data Analytics Software &...

      Aminu Abdullahi - January 18, 2024 0
      Learn the top AI data analytics software to use. Compare AI data analytics solutions & features to make the best choice for your business.
      Read more
      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Video

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2024 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.