RALEIGH, N.C. - —
Red Hat (Nasdaq: RHAT), the world's premier open source and Linux provider, today announced that Tradesignals, a leading managed service provider of quantitative analytics products to the futures industry, has selected Red Hat Linux as the operating system for its core business infrastructure. Tradesignals' customers worldwide rely on the delivery of financial data and analysis in real-time, making it imperative that the company's IT systems are highly reliable, stable and secure. The latest phase of the Tradesignals network development programme has brought 80% of the business infrastructure onto a Red Hat Linux platform, including the majority of the mission-critical IT systems and supporting databases.
Tradesignals thoroughly evaluated the Linux platform alongside Sun Solaris and Microsoft to compare scalability, performance, support services and total cost of ownership for the alternative systems. Central to Tradesignals' requirements is an IT infrastructure that is easily extendable to meet the growing demands of the business and capable of supporting the company's 99.9% SLA for delivery of information to customers and partners. Tradesignals was able to deploy a robust solution based on Red Hat Linux to meet these requirements, running mainly on the company's existing hardware, for between a third and a quarter of the cost of proprietary alternatives, which is consistent with research recently published by IDC.
"In the financial services sector decisions always have to be based on the most accurate and up-to-date information available," said Stephen Egan, director of Tradesignals. "We set stringent SLAs to meet these demands but, as a result, put a lot of pressure on our IT systems. Whereas we found some systems came up to scratch on reliability or scalability, only Linux could comfortably meet all of our demands and beat its competitors hands down on cost. At Tradesignals we're highly averse to technical risk because if any part of our IT infrastructure falls down then our service is invalid. As far as we are concerned, it doesn't get much more mission critical than that and we're confident that Red Hat Linux will deliver."
"Linux is beginning to make real impact in the financial services sector, especially where companies are scrutinising cost savings and security issues," said James Prasad, VP, Red Hat. "The similarities between the Unix and Linux operating systems, and the skills required to manage them, make it easy for companies to migrate to Linux and Red Hat is working with several companies in this industry to assist the move. Tradesignals has proven that Linux provides a truly scalable, secure and cost effective solution and Red Hat are pleased to continue to work with the company to build a network that will support its continued growth."
Trade Signal Corporation Ltd (TSC), founded in 1997, is a financial services company authorised in Ireland by the Central Bank under section 10 of the Investment Intermediaries Act (1995), and in the US by the Commodities Futures Trading Commision. The company provides complete end-to-end managed solutions, including quantitiative financial analysis, proprietary Java charting and quote tools, as well as real-time online derivatives trading, hedging, and risk management solutions. The Company's products are licensed by over 80 U.S. futures brokers, some of the world's largest derivatives exchanges, as well as leading global corporations in the Energy, Agriculture and Financial sectors.
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.