Since the JSE adopted SETS – London’s Stock Exchange electronic order book – it has more doubled its trade, showing that technology has an incredible impact on the financial world, writes CHRIS BUCHANAN, Director of Client Solutions at Dell EMC.
In 2002 the Johannesburg Stock Exchange adopted SETS, the London Stock Exchange’s flagship electronic order book. When a 2013 research paper studied the impact of this, it found the JSE was more liquid, had doubled its trade and lowered trading costs. There is no doubt that good technology has an incredible impact on the fast-moving yet nuanced world of financial trading.
Modern-day financial trading floors are a far cry from the noisy, frantic telephone-centred scenes of the 1980s. Significant upward trends in computing, data distribution and automated trading techniques have placed IT at the core of these environments. Trading floors are now dynamic hotbeds of IT innovation, where latency is king, and where even a few minutes of downtime can result in multi-million dollar losses. At the New York Stock Exchange, computers even have the exact same cable lengths so one doesn’t beat any others by being a little shorter and therefore faster to the mark.
But this is placing IT management teams under intense pressure to ensure operating environments are perfect. Whether performing maintenance, patching vital software updates, carrying out regular moves/adds/changes (MACs) according to traders’ requirements or ensuring processes are compliant with ever-changing security regulations, these teams have their work cut out.
With these unique challenges, organisations can benefit from Virtual Desktop Infrastructure (VDI) – the practice of hosting a desktop operating system within a virtual machine running on a centralised server, with users accessing this virtual environment through any endpoint device. When assessing how best to adapt their IT strategy there are a number of areas financial trading houses should consider:
The first of these is IT management. On a trading floor, MACs – a set of tasks that IT teams regularly perform to keep computing equipment up-to-date and aligned with user requirements – happen continuously. With traders regularly relocating and demanding ever-so-slightly different configurations of hardware and software – IT teams can find themselves on a carousel of moving parts, each one scrutinised.
The prevalence of multiple devices and mobile working compounds this challenge – laptops must be kept up to date and software applications patched to mobile devices so that trades can be executed on the move. For many financial institutions, this array of devices often includes multiple PCs per trader – sometimes one per monitor – which must be moved and managed individually.
With VDI, workstations are moved to the datacenter and can be replaced by location-agnostic thin clients, which are centrally configured, eliminating the need for a member of the IT team to visit the user’s desk. Utilising thin clients improves reliability and, in the case of MACs, enables immediate reconfiguration, getting the trader back online and sustaining invaluable uptime. For this reason, organisations such as Kotak Securities have implemented thin clients in order to benefit from the devices’ secure, high performance capabilities, and reduce the IT management burden.
Software deployments present another significant challenge for IT. Traders use customised application sets for news monitoring, price analysis and communication, amongst a range of other purposes. Deploying and updating these manually, across the myriad of devices, is time-intensive and adds further weight to the IT management workload.
With virtual desktops, all software deployments and updates are administered centrally, enabling the complex web of applications to be coordinated from a single system. Not only does this reduce time spent “keeping the lights on”, but also enables IT teams to focus on innovation. In a world where IT innovation can lead to millions in additional revenue, this is a significant ‘value-add’.
Security and compliance
Amongst the IT management issues regularly faced by financial institutions, security is also close to the top of the list. As data protection regulation continues to tighten and malware techniques become more varied, monitoring endpoints and storage methods becomes a business necessity.
For trading houses handling market-sensitive information, this level of protection is nothing new. Many organisations already utilise virtual desktops to remain aware of where their data resides and how it is communicated both internally and externally. With all data held in the datacenter, information is secure, and reporting/auditing is more straightforward.
The threat of malware is, comparatively, a new challenge. For traders on the move, even when operating in a virtualized environment, it is essential to keep endpoints safe from would-be hackers. To do so, organisations can patch embedded endpoint security software. This additional layer of threat protection ensures vital information is kept safe and is easily managed across all devices.
The final challenge for financial trading houses seeking to get more from their IT is its impact on energy consumption. In terms of building regulations, many of the world’s financial offices are already maxed out in terms of energy usage, not least because datacenters are often housed on site. Moving workstations to the datacenter and replacing with low energy consumption desktops, such as thin clients, has a significant impact on power consumption, and air-con demands. VDI also enables more straightforward integration of hybrid cloud storage techniques, again, removing power-intensive datacenter components from the building.
VDI is helping the financial sector to overcome some of its core IT challenges. Through centralized client management across a range of devices, companies no longer have to dispatch technicians to traders’ desk or to remote deployments. Traders are not disrupted, and IT personnel can execute repairs and software upgrades in minutes rather than hours. This frees up time for IT innovation, all while ensuring vital data is kept safe.
To ease the regulatory and budget pressures facing IT departments across the finance industry, VDI is a safe bet.
Opera launches built-in VPN on Android browser
Opera has released a new version of its mobile browser, Opera for Android 51, which features a built-in VPN (virtual private network) service.
A VPN allows users to create a secure connection to a public network, and is particularly useful if users are unsure of the security levels of the public networks that they use often.
The new VPN in Opera for Android 51 is free, unlimited and easy to use. When enabled, it gives users greater control of their online privacy and improves online security, especially when connecting to public Wi-Fi hotspots such as coffee shops, airports and hotels. The VPN will encrypt Internet traffic into and out of their mobile devices, which reduces the risk of malicious third parties collecting sensitive information.
“There are already more than 650 million people using VPN services globally. With Opera, any Android user can now enjoy a free and no-log service that enhances online privacy and improves security,” said Peter Wallman, SVP Opera Browser for Android.
When users enable the VPN included in Opera for Android 51, they create a private and encrypted connection between their mobile device and a remote VPN server, using strong 256-bit encryption algorithms. When enabled, the VPN hides the user’s physical location, making it difficult to track their activities on the internet.
The browser VPN service is also a no-log service, which means that the VPN servers do not log and retain any activity data, all to protect users privacy.
“Users are exposed to so many security risks when they connect to public Wi-Fi hotspots without a VPN,” said Wallman. “Enabling Opera VPN means that users makes it difficult for third parties to steal information, and users can avoid being tracked. Users no longer need to question if or how they can protect their personal information in these situations.”
According to a report by the Global World Index in 2018, the use of VPNs on mobile devices is rising. More than 42 percent of VPN users on mobile devices use VPN on a daily basis, and 35 percent of VPN users on computers use VPN daily.
The report also shows that South African VPN users said that their main reason for using a VPN service is to remain anonymous while they are online.
“Young people in particular are concerned about their online privacy as they increasingly live their lives online,” said Wallman. “Opera for Android 51 makes it easy to benefit from the security and anonymity of VPN , especially for those may not be aware of how to set these up.”
Setting up the Opera VPN is simple. Users just tap on the browser settings, go to VPN and enable the feature according to their preference. They can also select the region of their choice.
The built-in VPN is free, which means that users don’t need to download additional apps on their smartphones or pay additional fees as they would for other private VPN services. With no sign-in process, users don’t need to log in every time they want to use it.
Opera for Android is available for download in Google Play. The rollout of the new version of Opera for Android 51 will be done gradually per region.
Future of the car is here
Three new cars, with vastly different price-tags, reveal the arrival of the future of wheels, writes ARTHUR GOLDSTUCK
Just a few months ago, it was easy to argue that the car of the future was still a long way off, at least in South Africa. But a series of recent car launches have brought the high-tech vehicle to the fore in startling ways.
The Jaguar i-Pace electric vehicle (EV), BMW 330i and the Datsun Go have little in common, aside from representing an almost complete spectrum of car prices on the local market. Their tags start, respectively, at R1.7-million, R650 000 and R150 000.
Such a widely disparate trio of vehicles do not exactly come together to point to the future. Rather, they represent different futures for different segments of the market. But they also reveal what we can expect to become standard in most vehicles produced in the 2020s.
The i-Pace may be out of reach of most South Africans, but it ushers in two advances that will resonate throughout the EV market as it welcomes new and more affordable cars. It is the first electric vehicle in South Africa to beat the bugbear of range anxiety.
Unlike the pioneering “old” Nissan Leaf, which had a range of up to about 150km, and did not lend itself to long distance travel, the i-Pace has a 470km range, bringing it within shouting distance of fuel-powered vehicles. A trip from Johannesburg to Durban, for example, would need just one recharge along the way.
And that brings in the other major advance: the i-Pace is the first EV launched in South Africa together with a rapid public charging network on major routes. It also comes with a home charging kit, which means the end of filling up at petrol stations.
The Jaguar i-Pace dispels one further myth about EVs: that they don’t have much power under the hood. A test drive around Gauteng revealed not only a gutsy engine, but acceleration on a par with anything in its class, and enough horsepower to enhance the safety of almost any overtaking situation.
Specs for the Jaguar i-Pace include:
- All-wheel drive
- Twin motors with a combined 294kW and 696Nm
- 0-100km/h in 4.8s
- 90kWh Lithium-ion battery, delivering up to 470km range
- Eight-year/160 000km battery warranty
- Two-year/34 000km service intervals
Click here to read about BMW’s self-driving technology, and how Datsun makes smart technology affordable.