NASDAQ's Securing Security Transaction
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Case Details:
Case Code : ITSY013
Case Length : 07 Pages
Period : 1997-2001
Pub Date : 2002
Teaching Note : Available
Organization : NASDAQ
Industry : Financial Services
Countries : USA
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
Developing the SDR
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The user groups identified by Nasdaq for the new system were
StockWatch users, TradeWatch analysts, MarketWatch operations managers and
MarketWatch management groups.
The Request For Proposal7 (RFP) for the
new system was released in 1997, and the design work began in April 1998.
The exchange already had clearly defined network management and maintenance
procedures in place.
Keeping in mind this well-defined existing infrastructure and expertise, the RFP
recommended a platform solution that utilized either Windows or UNIX. |
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Nasdaq decided to select a Windows-based solution, as the Component Object
Model (COM)8, Microsoft Transaction
Server (MTS)9 and Microsoft Message
Queue (MSMQ)10 running on it were
reportedly more reliable, operationally flexible, secure and scalable.
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Reaping the Benefits
According to analysts, the SDR made Nasdaq's
transactions more secure and reliable.
They felt that investor confidence increased as a result of the
automated surveillance system, which safeguarded the integrity of the
markets. The SDR ensured that trading was done properly by scanning
transaction data from various sources and analyzing each transaction to
detect unusual market movements.
SDR also increased the scalability levels of Nasdaq, thus enabling
Nasdaq to handle varying workload levels in a consistent manner. |
7]
A request for bids that indicates the specifications for a software project or
other system needs.
8] COM helps in the development of component
based applications. It is available on various versions of UNIX, IBM Mainframes
and other systems. It is used in applications ranging from medical technology to
traditional accounting and human resource systems.
9] MTS lowers server development costs by up to
40%. It is used to deploy scalable server applications built from ActiveX
components.
10] MSMQ enables communication between
applications running at different times across networks and systems that may be
temporarily offline. Applications can send messages to queues and read messages
from queues. It provides guaranteed message delivery, efficient routing and
secure, priority based delivery.
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