|By Lacey Thoms||
|July 15, 2014 09:59 AM EDT||
Besides their common daily handling of significant amounts of money, the New York Stock Exchange, New York Mercantile Exchange and NASDAQ have something else in common: All three exchanges now rely on Linux.
In the world of finance, milliseconds matter. There is significant money at stake when one firm is able to make a trade a split second before another firm. High-frequency trading refers to using sophisticated technologies to facilitate the fastest trades possible. Because Linux is known for its low transaction and networking latency, financiers are increasingly relying on the open source operating system to help accelerate the speed with which they trade.
Jim Zemlin, the executive director of the Linux Foundation, recently spoke at the Linux Enterprise End-User Summit, addressing several hundred Wall Street executives as well as Linux developers about what he predicts for the future of technology.
Open source will lead the way.
“Hardware functions are increasingly being abstracted into software,” Zemlin explained. “More and more specialist hardware has been replaced by open source software running on generic x86 boxes.”
On the software side of the coin, open source is leading the way, Zemlin continued, due to the fact that companies are able to develop products faster thanks to code sharing. This results in high-quality products that cost less to produce.
According to Gartner, when it comes to today’s software, 80 percent of the code used is open source, while companies tweak the final 20 percent to give their programs their own personalities. Because of this, “People now have full-time jobs managing their external open source resources,” Zemlin said.
He expects the trend of open source adoption to be even more pervasive in the future.
- Open Source Software License Obligations in Cloud Applications
- Leveraging Open Source and Avoiding Risks in Small Tech Companies
- Governments Waltzing on OSS, Trusting Your Search Engine for Privacy, GPL Houses and Apache Cars
- What Developers Need to Know About Open Source Vulnerability Management
- The Basics of Open Source Software By @Protecode | @CloudExpo [#Cloud]
- Hortonworks President: Open Source Is the ‘Single Fastest Way To Innovate’
- Is Open Source Becoming the De Facto Standard in the Data Center?
- Open Source & the Internet of Things: A Growing Companionship | @ThingsExpo [#IoT]
- Legal battles, security concerns, myth busting plus learning and governing with open source
- Defining ‘Freedom’ in the Open Source Software Space | @CloudExpo #Cloud