The Nasdaq shares market in the US has upgraded its trading and reporting system to speed up processing times and...
handle more trades.
Nasdaq has signed a multimillion-dollar contract with HP for the new system. The three-year deal extends a relationship between the two companies that has lasted more than 20 years.
Under the new agreement, Nasdaq has bought 500 faster processors for its HP NonStop servers to improve trading processing performance by up to a third.
"With 700 trading firms as customers, downtime at Nasdaq simply cannot happen," said Steve Randich, Nasdaq's chief information officer.
"HP's NonStop platform and HP OpenView software deliver real-time capability to provide a continuously available stock market, as well as additional customer services such as increased and easier access for trades."
On an average day Nasdaq currently handles 7.5 million quote updates, 4.2 million trade reports, 2.6 million orders and 2.3 billion shares, while maintaining 1/50th of a second response times to traders.
Nasdaq said that it needed more processing head room in its trading system because these volumes were constantly rising.