dcsimg
Linux Today: Linux News On Internet Time.




More on LinuxToday


ComputerWorld: Open-source breaks into banking - Integration tool to speed global trading

Feb 05, 2001, 21:50 (0 Talkback[s])
(Other stories by Lee Copeland)

WEBINAR:
On-Demand

Re-Imagining Linux Platforms to Meet the Needs of Cloud Service Providers


"A German bank wants to introduce open-source development to the insular, security-conscious world of investment banking."

"The London-based investment banking arm of Dresdner Bank AG, Germany's third-biggest bank, last week launched its custom-built, back-end integration tool, called Openadaptor. The open-source application lets the bank reconcile its global banking and trading accounts faster."

"By placing the software in the open-source community, Dresdner Kleinwort Wasserstein hopes to promote the use of the integration tool at other banks, said Al-Noor Ramji, CIO at the investment bank."

"The domino effect should be the reduction in the time it takes to make and settle a trade," he said. Using the tool, Dresdner has cut its account settlement times from five days to three and hopes to reduce the cycle time even further to just 24 hours."

Complete Story

Related Stories: