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The NYSE selects Red Hat's Linux solutions

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May 14, 2008

The New York Stock Exchange (NYSE) has selected Red Hat's Linux offerings to power the complex financial trading system that takes care of approximately $141 billion in stock trading volume on any given day.

This represents an important victory for Red Hat and for the Linux community as a whole. In the coming six to eight weeks, the NYSE and its family of other exchanges will be migrating from HP UX, IBM AIX and SUN Solaris to Red Hat Enterprise Linux.

The NYSE's Euronext operates multiple exchanges including, the New York Stock Exchange, Euronext, Liffe, AlterNext and The NYSE Arca Options Trading Exchange.

Steve Rubinow, NYSE Euronext's CIO said "key components of NYSE Euronext's high-speed trading environments rely on Red Hat Enterprise Linux and are managed by The Red Hat Network. The rapid pace of electronic trading has picked up lately and across the enterprise, the 6.5 hours that comprise the main part of our trading day includes the processing of billions of electronic transactions."

The new trading platform includes at least 600 servers from Hewlett-Packard. Specifically, the list includes 200 HP ProLiant DL-585 quad-core servers and 400 ProLiant BL 685c blades with AMD dual-core Opteron processors, according to Red Hat.

The company said NYSE Euronext did an evaluation of two leading Linux vendors and determined that Red Hat was the better fit. At the time of Red Hat's move of its own stock trading from the Nasdaq to the NYSE, Dion Cornett, vice president of investor relations at Red Hat, did indicate that the change could potentially also yield a technological win for Red Hat.

The hope was that as part of the NYSE's modernization effort, Red Hat Enterprise Linux would play a key role.

What isn't clear at this time is whether Red Hat's Real Time Linux efforts played a role in the NYSE Euronext win. In 2007, Tim Burke, Red Hat's director of emerging technologies took the stage at the Linux on Wall Street event proclaiming the virtues of Red Hat's Real Time benefits for the financial marketplace.

Red Hat added that part of the attraction had been its Security-Enhanced Linux (SE-Linux) functionality. SE-Linux had been developed in partnership with the National Security Agency and applies strict access control policies to Linux.

Red Hat CEO Jim Whitehurst has since set a new goal for his company, aiming to be the first major open source vendor to hit $1 billion in revenue.

In any event, Red Hat is coming off one of the most successful financial years in its history, reporting revenues of $523 million for its 2008 fiscal year.

Source: Red Hat Inc.

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