Date: April 7, 2005
Venue: The Grand Hyatt New York, Park Avenue, Grand Central, New York, NY 10017
Linux is rapidly moving from the fringes to center-stage, especially in the financial services industry. However, Linux is still largely used in conventional applications and in "point mode," where individual applications are ported to Linux. This reduces the ROI potential from Linux adoption. If a bigger picture approach to Linux is taken, it is our view that firms especially in the Banking & Financial Services industry will greatly benefit.
But this requires that Linux adoption not be viewed as a purely technology selection decision. Linux is aptly suited for high performance computing processes which typically exist in data centers of financial institutions. Linux clusters can be effectively used for portfolio analysis, trading analytics, customer analytics, near real-time transaction monitoring, data cleansing and validation. What's more, small Linux clusters can be used to run complex portfolio simulations and risk analysis for financial firms. These Linux clusters need not be fresh procurements. Existing/ unused hardware, desktops or even proprietary hardware can be utilized to setup Linux clusters.
The lower TCO of Linux goes beyond licensing costs. Built into the lower TCO are better security, performance, lower hardware costs, and better support given the open nature of Linux. Little wonder that the decision to migrate to Linux has shifted from a tactical, cost saving option to a strategic long term business decision.
Senior Analyst, TowerGroup
Vice President - Market Data System Product Management, Reuters
Vice President - Services,
Red Hat Consulting
Linux Solution Architect,