IT Strategies for Exchanges

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IT Strategies for Exchanges

• Canan Güven OKAN
• CIO
• Centre for Information Systems
• Istanbul Stock Exchange

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A very brief summary of who we are...

• ISE Reestablished in 1985, now 450 people
• Self-financing,
• only stock exchange in the country,
• operate 0930 till 1730 with lunch break btwn 2
  sessions
• IT 50 people inc operations, telco,systems
  IT Sec experts etc
• 20 people for sw development maint.
  Recruiting more..
• Equity trading HW fault tolerant propriety
  systems
• very very tired sw
  originally called TCAM
• BB trading SW fault tolerant UNIX based systems
  
• tired sw based on ASTS
  (older version of X-stream)
• Futures trading Similar to BB trading
• 
  

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• Surveillance systems built in-house
• Company Public Disclosure System outsourced to a
  local sw co. Support exercised jointly
• Market Data Dissemination built in-house
• Risk mngmnt measures built into trading systems
  to an extent
• Member Back Office systems
• Exchange Back-office systems
• All other legacy systems...payroll,
  personell,finance, inventory control,legal etc..
• IT supports all systems in-house as well as
  Futures trading at another exchange
• Network/systems support and helpdesk outsourced
  to a local co.
• Outsource sw development for non-critical
  applications when necessary

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• ISE started electronic training in equities in
  1995 just before moving into new building
• high-availability naturally expected
• All LAN,systems and telephone infrastructure were
  designed with
• no-single-point-of failure in mind
• Any left overs (single-point-of failures) were
  minimised over time
• 2 sets of differing infrastructure VPNs for each
  member was imposed on TurkishTelekom
• Most recently,Members were allowed to access ISE
  from alternative locations also..
• Back-up site was improved over the years to
  become a nr-hot back-up site
• Back-up tests conducted revealed the most hot
  risky issues more clearly to its own business
  units s.t . they had to ask for assistance to
  change the business processes within their domain
  units
• High-availability /fault tolerancy a company
  culture frm design phase thru implementation ..
• Very strict chg control procedures in place,
  still errors might be inevitable..
• Need to build a good home for the tired sw
• No 1 priority be as much self-sufficient as can
  be we try to learn frm previous good/bad
  experiences
• Owning the business process not easy without the
  authority to change things
• Always good to have good communication/persuasion/
  physchological skills

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Do you sometimes feel you as IT need to keep an
eye on existing rules and procedures ??
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Willing to take ownership of business processes??
Really??
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Thank you !Canan Guven OKAN

• No questions pls....just go home OK??

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International Exchanges NYSE Euronext, Nasdaq
OMX, London....
ISE
TURKDEX
Common Platform for operations
GOLD Exchange
Commodities
Energy Exchange
FEAS Exchanges
Members