Qatar Exchange Turns To Red Hat For A Reliable, Scalable And High-Performance Trading Platform
Leading stock exchange in the Gulf Cooperation Council region migrates from AIX and Windows to Red Hat Enterprise Linux to transform its world-class securities exchange.
- (1888PressRelease) February 14, 2011 - DOHA, Qatar - Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced that the Qatar Exchange, the principal stock market of Qatar and one of the leading stock markets in the Gulf Cooperation Council region (GCC region), has migrated from IBM AIX and Microsoft Windows to Red Hat Enterprise Linux to provide a high-performance trading platform for investors in the Qatari market.
Qatar Exchange was established through a strategic partnership between Qatar Holding and NYSE Euronext on June 2009. Qatar Exchange offers investors the benefits of a world-class securities market and exchange, operating sophisticated and state-of-the-art technology systems where speed and accuracy of transactions are key. To deliver this level of service to local and international investors in Qatar, companies and markets demanded a stable, scalable and high-performance, yet cost-effective, IT infrastructure to underpin mission-critical back-office applications and the core trading platform.
With reliable performance and security criteria in mind, Qatar Exchange's team selected Red Hat as its trusted technology partner, building its mission-critical trading platform and back-office systems on Red Hat Enterprise Linux, Red Hat Network Satellite and Red Hat clustering technologies.
The migration of Qatar Exchange's mission-critical trading applications and databases from IBM AIX to Red Hat Enterprise Linux has since offered improved levels of operational flexibility. Red Hat's open source strategy has also offered Qatar Exchange a long-term infrastructure roadmap based on open source technologies, which offer robust security and ease of management. Red Hat Enterprise Linux was a logical fit as it not only met these criteria but is also the technology platform at NYSE Euronext, which helped to ease integration and enabled homogeneity across the exchanges' IT architectures.
"Qatar Exchange currently executes around 4,000 exchange transactions per day and 12,000 orders per day, making the trading platform a truly mission-critical application that needs to perform reliably under pressure," said Jassim Bukashisha, IT director at Qatar Exchange. "Unplanned downtime is not an option, so we need to be confident that we have the right technology partner behind us. Red Hat provided us with an enterprise-class solution that is high in performance, incredibly robust and proven to be secure, all at an affordable price without any compromise on performance."
Qatar Exchange selected Red Hat Enterprise Linux to run its trading applications, while utilizing Red Hat Network Satellite for system updates and Red Hat clustering for maximizing uptime for this vital transaction platform. In addition to Red Hat, the trading platform ecosystem integrates Oracle to run the trading databases and Tomcat for web user interfaces. The system runs on HP - DL 380 rack-mounted servers running Intel x86 CPUs, while providing storage by HP - EVA 4400 and SAN switches by Brocade. In addition, trading applications were provided by NYSE Euronext technologies and the system is equipped to run in-house developed applications.
About the Qatar Exchange:
Established in 1995, the Doha Securities Market (DSM) officially commenced operations in May 1997. Since then the exchange has grown to become one of the leading stock markets in the GCC region. Following a strategic partnership agreement between Qatar Holding and NYSE Euronext in June 2009, the DSM was renamed the Qatar Exchange (QE). QE currently has 43 listed companies and its market capitalization is around QR400 billion (US$110 billion). The primary aim of QE is to support Qatar's economy by giving investors a platform through which they can trade fairly and efficiently. QE also provides the public with access to market information, ensures correct disclosure of information, and enforces securities regulations. QE is regulated by the Qatar Financial Markets Authority.
About Red Hat, Inc.
Red Hat, the world's leading provider of open source solutions and an S&P 500 company, is headquartered in Raleigh, NC with over 65 offices spanning the globe. CIOs ranked Red Hat as one of the top vendors delivering value in Enterprise Software for seven consecutive years in the CIO Insight Magazine Vendor Value survey. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with virtualization, applications, management and Services Oriented Architecture (SOA) solutions, including Red Hat Enterprise Virtualization and JBoss Enterprise Middleware. Red Hat also offers support, training and consulting services to its customers worldwide.
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Media Contact:
Colin Saldanha
PROCRE8
Tel: +97150 6400762
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