Economic slowdown had a huge impact on the financial institutions around the world. Recession has forced these financial institutions to take a look at their budget as well as the technology that they are using. In times like this open source technology is growing in the capital markets because of increased cost pressures. Many Wall Street companies are now adopting open source even though there are many who still believe that any software that they develop is proprietary and has a competitive edge.
"What the crisis has done is shattered the orthodoxy in what is accepted as the correct way to build out systems, and it has allowed people to think more creatively about how their software works," comments Graham Miller, Co-Founder and CEO of Marketcetera, an open source platform for building automated trading systems to Wall Street and Technology. Many banks and brokers have been running open source applications like Linux and the free Apache web servers in the back office. Now, open source is finding its way to the front office trading desk as well.
Many open source companies are booming in times like these. One such example is Esper, which provides an open-source event stream processing and complex event processing (CEP) solution. Esper is already built. Instead of being a standalone server product that runs as a separate product, it's a library that companies can link in with their own proprietary stuff.
Recently, many Wall Street IT developers have started participating in open source technology projects. Firms like Credit Suisse, Goldman Sachs, JPMorgan Chase and Deutsche Borse Systems participated in the open source (AMQP) Advanced Message Queing (popular open source project among the financial services industry) Working Group and collaborated on standards for messaging infrastructure. "AMQP is not just a financial service [project], but it's something that has been taken seriously in the financial services space. Tough economy has opened the growth of open source. You get your base products for free, and you're essentially getting innovation in that product for free, because people are contributing and improving the software all the time," said Kevin McPartland, Senior Analyst at TABB Group to Wall Street and Technology.
Cost still remains the most important reason especially when many major vendors have increased the licensing fees of their product. Buying a Trading system from a vendor will require lengthy and costly customization. "We've built out a platform product that provides out-of-the-box components for market data, signal analysis engines, market connectivity and user interface capabilities to exchanges, ECNs, brokers and lots of different destinations," says Miller. Marketcetera launched Version 1.0 of its Trading Platform, which can be downloaded free-of-charge from its Web site. They have tried to follow Red Hat way of providing fee-based service and support. The company integrates several open-source technologies including QuickFIX/J, a messaging engine for the FIX protocol, and QuantLib, a free library for quantitative finance and Esper.
However, despite open source company's claim many experts doubt that open source is cheaper than software vendors. Custom development of open source software can be more costly than proprietary software. "It might look cheaper on paper but if you look at what you want to do with it, and it requires a substantial engineering effort rather than a commercial product, then it's not necessarily the most effective solution," says Adam Honore, Senior Analyst at Aite Group. He further adds that there could be support, maintenance and accountability issues with some open source vendors.
Agencies
Sunday, August 30, 2009
Check out the latest update of SaaS studies
Software-as-a-service (SaaS) is playing an important role in changing the fundamentals of business for user companies and for SaaS providers themselves. These changes are part of a multi-year 'loop' cycle that reciprocates between users and providers, with each side influencing the other in unforeseen ways.
Mismanaging this 'endless loop of innovation' will prevent user firms from being able to derive real competitive advantage from SaaS, prevent SaaS providers from competing on an increasingly global stage and trap ISVs (Independent software vendors) from growing along with the global user IT market.
Understanding how each side influences the others and how to manage it effectively through changing market scenarios, is the key theme of 'An Endless Cycle of Innovation: Saugatuck SaaS Scenarios Through 2014', the latest global research program developed and published by Saugatuck Technology.
On the launch of new study, Bruce Guptill, Managing Director of Research, Saugatuck Technology said, "The research shows us a combination of changing SaaS acquisition and adoption, both as a result of the global recession and as a result of the changing nature of SaaS itself. How users do business with SaaS is changing how providers develop and deliver SaaS and is changing how ISVs and other players will need to compete over the next several years. Failure to recognize and adapt to these changes will make it extremely difficult, and much more costly than it should be, for anyone to benefit from SaaS."
As the demand of SaaS is growing globally, the analysts expect that by year 2012, SaaS solutions is likely to become the de facto choice for the majority of user organizations that are replacing legacy applications or business systems as they reach the end of their useful lives or when driven by other important business considerations.
According to Guptill, by year 2014, SaaS and Cloud Computing will become an integral to infrastructure, business systems, operations and development within all aspects of user firms with variations in status and roles based on region and business culture. Prior to this time period, SaaS is likely to act as an important 'agent of change'.
Agencies
Mismanaging this 'endless loop of innovation' will prevent user firms from being able to derive real competitive advantage from SaaS, prevent SaaS providers from competing on an increasingly global stage and trap ISVs (Independent software vendors) from growing along with the global user IT market.
Understanding how each side influences the others and how to manage it effectively through changing market scenarios, is the key theme of 'An Endless Cycle of Innovation: Saugatuck SaaS Scenarios Through 2014', the latest global research program developed and published by Saugatuck Technology.
On the launch of new study, Bruce Guptill, Managing Director of Research, Saugatuck Technology said, "The research shows us a combination of changing SaaS acquisition and adoption, both as a result of the global recession and as a result of the changing nature of SaaS itself. How users do business with SaaS is changing how providers develop and deliver SaaS and is changing how ISVs and other players will need to compete over the next several years. Failure to recognize and adapt to these changes will make it extremely difficult, and much more costly than it should be, for anyone to benefit from SaaS."
As the demand of SaaS is growing globally, the analysts expect that by year 2012, SaaS solutions is likely to become the de facto choice for the majority of user organizations that are replacing legacy applications or business systems as they reach the end of their useful lives or when driven by other important business considerations.
According to Guptill, by year 2014, SaaS and Cloud Computing will become an integral to infrastructure, business systems, operations and development within all aspects of user firms with variations in status and roles based on region and business culture. Prior to this time period, SaaS is likely to act as an important 'agent of change'.
Agencies
Forecast of animation and gaming lowered by NASSCOM
Nasscom, the apex body of IT software and services has lowered its 2012 forecast for the animation industry by 27.7 percent and gaming industry by 16.3 percent. It now expects revenues from the animation industry to touch $830 million against the earlier estimate of $1060 million and revenues from the gaming industry to touch $830 million against $1163 million.
In its press statement, Nasscom stated that this downward revision is largely on account of slackened demand due to the global economic downturn and the domestic box office for animation movies has not picked up as estimated, end-to-end skill sets not being developed in the animation services industry and proof of concept or IP creation not up to the expectations.
Som Mittal, President of Nasscom said, "NASSCOM recognizes this industry as a significant user of technology and can further showcase India's well established credentials in the IT Industry space. However, being in a nascent stage of development, it is critical for all stakeholders to come together and create an environment that nurtures this industry for it to be able to compete at a global scale."
The economic crisis has hurt the earnings of Indian IT companies with NASSCOM forecasting four to seven percent rise in India's software services and exports for the year to March 2010, sharply slower than the past years' robust growth.
Agencies
In its press statement, Nasscom stated that this downward revision is largely on account of slackened demand due to the global economic downturn and the domestic box office for animation movies has not picked up as estimated, end-to-end skill sets not being developed in the animation services industry and proof of concept or IP creation not up to the expectations.
Som Mittal, President of Nasscom said, "NASSCOM recognizes this industry as a significant user of technology and can further showcase India's well established credentials in the IT Industry space. However, being in a nascent stage of development, it is critical for all stakeholders to come together and create an environment that nurtures this industry for it to be able to compete at a global scale."
The economic crisis has hurt the earnings of Indian IT companies with NASSCOM forecasting four to seven percent rise in India's software services and exports for the year to March 2010, sharply slower than the past years' robust growth.
Agencies
Saturday, August 29, 2009
Can TCS earn $1 bn revenue from domestic market?
Country's top software exporter Tata Consultancy Services said that it aims to double its revenues from the Indian market to $1 billion in the next 3-4 years.
"India has been one of the important markets. We are looking at whether in next 3-4 years we can double our revenue to billion dollars in the Indian market," TCS CEO S Ramadorai said.
At present, the domestic market contributes 10 per cent to the total revenue.
"Every mission mode project (government) that would come on the radar, we will certainly bid for them. TCS is in talks for 3-4 such mission mode projects as of now," Ramadorai said.
"When we look at the domestic market we look at three pillars -- large enterprises, governments - both the central and state governments -- and the third is the small and medium businesses which are part of our overall growth," he added.
Of the three, he expects the large enterprises to contribute more than the other two, followed by the government and the SMB sector.
Agencies
"India has been one of the important markets. We are looking at whether in next 3-4 years we can double our revenue to billion dollars in the Indian market," TCS CEO S Ramadorai said.
At present, the domestic market contributes 10 per cent to the total revenue.
"Every mission mode project (government) that would come on the radar, we will certainly bid for them. TCS is in talks for 3-4 such mission mode projects as of now," Ramadorai said.
"When we look at the domestic market we look at three pillars -- large enterprises, governments - both the central and state governments -- and the third is the small and medium businesses which are part of our overall growth," he added.
Of the three, he expects the large enterprises to contribute more than the other two, followed by the government and the SMB sector.
Agencies
Has Apple unleashed Snow Leopard earlier into the wild?
Apple released its Snow Leopard into the wild a little early, while Microsoft revealed its release plans for Windows 7 this week.
Apple began shipping its newest operating system to customers on Friday, a little earlier than expected. Mac OS X Snow Leopard is not as much about adding new features as it is about refining the code in the operating system. For instance, according to Apple, 90 percent of the Mac OS X code has been worked on for the Snow Leopard release.
The CNET Reviews team took the new OS for a spin and gave it a rating of excellent in its review:
Interface enhancements like Expose in the Dock and better file and folder viewing in Stacks make finding apps and files much easier. A completely overhauled QuickTime X now sports a cleaner interface and recording tools. The much-anticipated Exchange support across Mail, the Address Book, and iCal is huge for those who take their Macs to work.
However, the team notes that Snow Leopard will work only on Intel-powered Macs; PowerPC users are out of luck.
Snow Leopard could include some features that would make it secure, or at least push it closer to the level of security that Vista and Windows 7 have, experts said this week.
Contrary to popular belief, Macintosh is not more secure from a software standpoint than modern Windows; it's merely safer to use because malware writers prefer to target the platform with the biggest install base, according to Charlie Miller and Dino Dai Zovi, co-authors of The Mac Hacker's Handbook, which came out this spring.
"Apple hasn't implemented all the security features that Vista has," Miller said. "They made some improvements in Leopard, but they are still behind."
Mac OS X Snow Leopard will cost $29 as an upgrade for Leopard users. For Mac OS X Tiger users, the Mac Box Set, which includes Mac OS X Snow Leopard, iLife '09 and iWork '09, will cost $169.
CNET.com
Apple began shipping its newest operating system to customers on Friday, a little earlier than expected. Mac OS X Snow Leopard is not as much about adding new features as it is about refining the code in the operating system. For instance, according to Apple, 90 percent of the Mac OS X code has been worked on for the Snow Leopard release.
The CNET Reviews team took the new OS for a spin and gave it a rating of excellent in its review:
Interface enhancements like Expose in the Dock and better file and folder viewing in Stacks make finding apps and files much easier. A completely overhauled QuickTime X now sports a cleaner interface and recording tools. The much-anticipated Exchange support across Mail, the Address Book, and iCal is huge for those who take their Macs to work.
However, the team notes that Snow Leopard will work only on Intel-powered Macs; PowerPC users are out of luck.
Snow Leopard could include some features that would make it secure, or at least push it closer to the level of security that Vista and Windows 7 have, experts said this week.
Contrary to popular belief, Macintosh is not more secure from a software standpoint than modern Windows; it's merely safer to use because malware writers prefer to target the platform with the biggest install base, according to Charlie Miller and Dino Dai Zovi, co-authors of The Mac Hacker's Handbook, which came out this spring.
"Apple hasn't implemented all the security features that Vista has," Miller said. "They made some improvements in Leopard, but they are still behind."
Mac OS X Snow Leopard will cost $29 as an upgrade for Leopard users. For Mac OS X Tiger users, the Mac Box Set, which includes Mac OS X Snow Leopard, iLife '09 and iWork '09, will cost $169.
CNET.com
Friday, August 28, 2009
Mahindra Satyam BPO on a hiring spree; To hire 300 by Sept
At a time when software firm Mahindra Satyam is rationalising its headcount, its BPO arm seems to be on a hiring spree with plans to recruit 300 employees by the next month.
The company has recently bagged a major contract from a domestic client for providing it back office support.
“To support the client we have already hired 700 employees in the last one month and will hire another 300 by the end of next month," Mahindra Satyam BPO CEO Vijay
Rangineni said.
However, he declined to divulge the name of the new client or the deal size. According to sources, the new win is in the telecom space.
The total headcount of the company after the recruitment would stand at 2,900. Though the parent firm Mahindra Satyam have a considerable presence in the domestic market, this is the first major win by Mahindra Satyam BPO in the domestic space.
Rangineni further said the company would now focus on the sizeable domestic market.
"Post the acquisition by Tech Mahindra, we now have a footprint globally and will leverage the strengths of Tech Mahindra wherever they are present," he said.
Mahindra Satyam BPO has one delivery centre each in Hyderabad, Bangalore, Chennai and Pune. The company, however, do not have a global delivery centre so far.
Agencies
The company has recently bagged a major contract from a domestic client for providing it back office support.
“To support the client we have already hired 700 employees in the last one month and will hire another 300 by the end of next month," Mahindra Satyam BPO CEO Vijay
Rangineni said.
However, he declined to divulge the name of the new client or the deal size. According to sources, the new win is in the telecom space.
The total headcount of the company after the recruitment would stand at 2,900. Though the parent firm Mahindra Satyam have a considerable presence in the domestic market, this is the first major win by Mahindra Satyam BPO in the domestic space.
Rangineni further said the company would now focus on the sizeable domestic market.
"Post the acquisition by Tech Mahindra, we now have a footprint globally and will leverage the strengths of Tech Mahindra wherever they are present," he said.
Mahindra Satyam BPO has one delivery centre each in Hyderabad, Bangalore, Chennai and Pune. The company, however, do not have a global delivery centre so far.
Agencies
Will Nissan unit shift from UK to Chennai lead to job losses?
Japanese major Nissan has decided to shift the entire production of its small car Micra from the UK and relocate it to India. After production of the Micra begins here, Nissan plans to manufacture four more models in India, involving a total investment of over Rs 2,000 crore.
The move underlines the rush among automakers to rationalise production costs and move to locations that offer the best value and quality. “We have decided to shift the production of the Micra compact car from our UK plant and manufacture it in India at our upcoming factory at Oragadam, near Chennai,” Nissan India MD and CEO Kiminobu Tokuyama told TOI here.
The company’s Chennai plant will start production from May next year, and the export markets would be catered to from autumn, Tokuyama said. Nissan, he said, plans to meet Micra’s requirements for the entire European region as well as some other markets like Middle-East from the Chennai plant. “We plan to initially start with export volumes of 1.1 lakh units, which would be gradually scaled up to 1.8 lakh units as demand goes up,” Tokuyama said. But what has prompted the company to take such a step, uprooting manufacturing presence from an established base and shifting to an all-new location. “There are many benefits to count in India, and these include a high-quality vendor base that is also cost effectiveness, leading to globally-competitive pricing,” Tokuyama said. Also, the technological skills in India are of a high quality, he added.
Nissan’s move points to the growing importance of India in small car manufacturing, which was initiated by the Government by way of lower manufacturing tax (excise duty) on them. The rising scale of small car production in India also sweetens the deal in favour of the country as component makers have improved on quality and scale, making them a safe and a reliable bet. Lower wages in the market, and relatively high engineering skills, is another big advantage that attracts companies.
Times of India/Agencies
The move underlines the rush among automakers to rationalise production costs and move to locations that offer the best value and quality. “We have decided to shift the production of the Micra compact car from our UK plant and manufacture it in India at our upcoming factory at Oragadam, near Chennai,” Nissan India MD and CEO Kiminobu Tokuyama told TOI here.
The company’s Chennai plant will start production from May next year, and the export markets would be catered to from autumn, Tokuyama said. Nissan, he said, plans to meet Micra’s requirements for the entire European region as well as some other markets like Middle-East from the Chennai plant. “We plan to initially start with export volumes of 1.1 lakh units, which would be gradually scaled up to 1.8 lakh units as demand goes up,” Tokuyama said. But what has prompted the company to take such a step, uprooting manufacturing presence from an established base and shifting to an all-new location. “There are many benefits to count in India, and these include a high-quality vendor base that is also cost effectiveness, leading to globally-competitive pricing,” Tokuyama said. Also, the technological skills in India are of a high quality, he added.
Nissan’s move points to the growing importance of India in small car manufacturing, which was initiated by the Government by way of lower manufacturing tax (excise duty) on them. The rising scale of small car production in India also sweetens the deal in favour of the country as component makers have improved on quality and scale, making them a safe and a reliable bet. Lower wages in the market, and relatively high engineering skills, is another big advantage that attracts companies.
Times of India/Agencies
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