Red Hat, Inc. (Nasdaq:RHAT), the world's premier open source and Linux provider, today announced that a mission critical component of the Credit Suisse First Boston (CSFB) worldwide financial trading architecture has been successfully migrated from Unix to Red Hat Linux. CSFB is a leading global investment bank serving institutional, corporate, government and individual clients. Its application, called Agora (Greek for marketplace), performs complex financial transactions such as basket trading, time slicing, and institutional order flow and is able to drive thousands of orders, in a matter of seconds, to locations around the globe, including the U.K., Japan, Hong Kong, and Korea.
"In an environment of increasing trading volumes and surges in demand, our systems need to be agile. We can gain a competitive advantage with a system that is flexible enough to constantly adapt to new business requirements while always improving prices for our customers," said Steve Yatko, director and CTO of Securities IT at CSFB. "Since implementing Red Hat Linux on the Egenera BladeFrame, we've noticed significant performance enhancements. Agora has evolved to the point where we are executing record trading volumes."
Agora's enterprise notification system, powered by Red Hat Linux, processes roughly 35 million global and 25 million U.S. transactions each day. CSFB converted from a four-way RISC-based architecture to a two-way Intel architecture running Red Hat on an Intel chip. With Egenera as the platform provider, Agora's structure is made up of high-powered Egenera BladeFrame systems running Red Hat Linux. The combination of Red Hat Linux with the BladeFrame consolidates servers and improves performance while lowering cost for business-critical applications.
As a result of its Red Hat implementation, CSFB will consolidate more than 20 RISC-based machines to only a few Intel processors, which can process up to a half-billion transactions each day per Egenera Processing Blade. CSFB has also noticed a 20x increase in overall performance, in contrast to traditional legacy UNIX systems.
"The results CSFB has achieved with Red Hat Linux show the power not only of our technology, or their knowledge of their own application, but the strength of the relationship and the results of working together as partners," said Michael Tiemann, CTO of Red Hat. "Even when an application is developed and tuned on a proprietary Unix platform, I fully expect to see superior performance when the application is migrated to Red Hat Linux on Intel processors. But I must honestly say that I am amazed to see how significantly the results favor the Red Hat Linux platform for this decidedly enterprise application. My hat is off to the engineers from both companies for achieving this outstanding result."
About Red Hat, Inc.
Red Hat, the world's leading open source and Linux provider, is headquartered in Raleigh, NC with satellite offices spanning the globe. Red Hat is leading Linux and open source solutions into the mainstream by making high quality, low cost technology accessible. Red Hat provides operating system software along with middleware, applications and management solutions. Red Hat also offers support, training and consulting services to its customers worldwide and through top-tier partnerships. Red Hat's open source strategy offers customers a long term plan for building infrastructures that are based on and leverage open source technologies with focus on security and ease of management. Learn more: http://www.redhat.com
Forward-looking statements in this press release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release that are not strictly historical statements, including, without limitation, management's plans and objectives for future operations, and management's assessment of market factors, constitute forward-looking statements which involve risks and uncertainties. These risks and uncertainties include, without limitation, reliance upon strategic relationships, management of growth, the possibility of undetected software errors, the risks of economic downturns generally, and in Red Hat's industry specifically, the risks associated with competition and competitive pricing pressures, the viability of the Internet, and other risks detailed in Red Hat's filings with the Securities and Exchange Commission, copies of which may be accessed through the SEC's Web site at http://www.sec.gov.
LINUX is a trademark of Linus Torvalds. RED HAT is a registered trademark of Red Hat, Inc. All other names and trademarks are the property of their respective owners.
About Red Hat
Red Hat is the world’s leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, and open source communities, Red Hat helps create relevant, innovative technologies that liberate resources for growth and prepare customers for the future of IT. Learn more at http://www.redhat.com.
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to delays or reductions in information technology spending; the effects of industry consolidation; the ability of the Company to compete effectively; the integration of acquisitions and the ability to market successfully acquired technologies and products; uncertainty and adverse results in litigation and related settlements; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company’s growth and international operations; fluctuations in exchange rates; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission’s website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.