Global bank takes first step to Linux

Credit Suisse First Boston, a global investment bank, has installed a Linux operating system to support its mission-critical...

Credit Suisse First Boston, a global investment bank, has installed a Linux operating system to support its mission-critical financial trading system.

The investment bank said the Linux-based system has delivered a 20-fold increase in performance in comparison with its Unix predecessor.

The Credit Suisse move is a major boost for the open source community, which has been struggling to win high-profile customers in the financial services sector.

Critics of Linux have claimed that companies will only use it to run minor applications because the operating system is less established than its more widely-used rivals such as Unix or Windows.

The Linux-based application installed at Credit Suisse will handle about 35 million transactions per day for the bank's worldwide operation.

Credit Suisse has migrated part of its "mission critical" trading architecture from Unix to a version of Linux supplied by Red Hat, the open source provider.

The bank refused to reveal the value of the contract.

"In an environment of increasing trading volumes and surging demand our systems need to be agile," said Steve Yatko, director and chief technical officer of securities IT at Credit Suisse.

The bank was executing record trading volumes using the Linux software, he added.

Read more on Business applications

SearchCIO
SearchSecurity
SearchNetworking
SearchDataCenter
SearchDataManagement
Close