“Red Hat is now our backbone. Our business cannot run if Red Hat is not there.” That is India’s biggest stock exchange’s CEO talking. Established in 1875, the Bombay Stock Exchange (BSE) is considered to be Asia’s earliest established stock exchange with an overall market capitalization of $1.43 Trillion in 2016 making it the world’s 11th largest. Open Source have had many major wins last year, and this has to be one of the biggest.
India’s BSE Joins The Linux Bandwagon
After struggling with inefficient and costly proprietary technologies for over two decades, the Bombay Stock Exchange (BSE) built a new trading system using open source technology from Red Hat. “As a result, BSE has expanded from 10 million to 400 million orders per day, achieved the fastest trading speed in the world, and reduced its total cost of ownership (TCO) by 90%.”