NYSE, Deutsche Borse merger places Linux on the front line
Feb 22, 2011, 03:05 (0 Talkback[s])
(Other stories by Leo King)
[ Thanks to Amy Bennet for this link. ]
"The New York Stock Exchange (NYSE Euronext) and Deutsche Borse yesterday confirmed they will merge, with the aim of become the world's largest trading venue and dramatically advancing their technological offerings.
"The two parties, both big implementers of Linux-based technology, confirmed savings targets of 300 million (£255 million) from IT and other operations, as technology is merged, as well as highlighting increased scale for selling data services to clients. A name for the new group, in which Deutsche Borse shareholders will own 60% of the equity, has not yet been given.
"In a further sign that technology is at the forefront of changes, the merger will see NYSE Euronext head of technology Dominique Cerutti appointed as president of the combined group, as well as running its systems. Cerutti was formerly European head at IBM Global Services."