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Trading floors need new IT

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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:

Workforce transformation

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.

Application deployment

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.

Energy consumption

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.

Cars

Mercedes brings older models to the connected world

The Mercedes Me Adapter is designed to bring older Mercedes Benz models into the connected world, allowing one to keep a close eye on the car via a smartphone. SEAN BACHER installs a unit

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In this day and age, just about any device, from speakers to TVs to alarm systems, can be connected and controlled via a smartphone.

In keeping with this trend, Daimler Chrysler has launched a Mercedes Me Adapter – a system designed to connect your car to your phone.

The Mercedes Me Adapter comprises a hardware and software component. The hardware is an adapter that is no bigger than a match box and plugs into the OBD2 diagnostics socket under the car’s steering wheel column. 

The software component is the Mercedes Me app, which can be downloaded for Android and iOS devices. (See downloading instructions at the end of the review.)

Setting up

Before you can start using the Mercedes Me Adapter, you need to download the app and begin the registration process. This includes setting up an account, inputting the vehicle’s VIN number, the year it was manufactured and the model name – among many other details. This information is sent to Daimler Chrysler. It is advisable to get this done before heading off to Mercedes to have the adapter installed, as it takes quite some time getting all the details in.

The next step is locating your nearest Merc dealer to get the adapter installed. You have to produce the registration papers and a copy of your ID – something Mercedes neglects to mention on its website, or anywhere else, for that matter.

What it does

The Mercedes Me Adapter is designed to show the car’s vital statistics on your mobile device. On the home screen, information like parking time, odometer reading and fuel level is displayed.

Below that is information about your most recent journeys, such as the distance, time taken, departure address and destination address. Your driving style is also indicated in percentage – taking into account acceleration, braking and coasting.

A Start Cockpit button displayed on the home screen includes a range of widgets offering additional information, including where your car is parked – right down to the address – as well as battery voltage, total driving time, distance and driver score since the adapter was installed. A variety of other widgets can be added to the screen, allowing for complete customisation.

Many users have have pointed out that that there is no real point to the adapter. However it does offer benefits. Firstly, your trips can be organised into personal and business categories and then exported into a spreadsheet for tax purposes. Secondly, you can keep a very close eye on your fuel consumption, as it automatically measures how many litres you put in each time you visit the garage and the cost (the cost per litre must be entered manually so it can work out total refuelling costs). This is also quite beneficial in terms of working out how much fuel you go through, without keeping all the pesky slips when it comes to claiming at the end of the month.

Probably the most important benefit is that it monitors the engine, electrical, transmission and gearbox, sending notifications as soon as any faults are detected. A perfect example was encountered on a recent trip I made to Pretoria. Upon arriving, I received a notification that I needed to check my engine, with the Mercedes roadside assist number blinking and ready for me to dial.

The notification did not even show up on the actual fault detection system, except for the faint glow of the orange engine light, which I would never have noticed in the bright light. I immediately took it Mercedes and they diagnosed it as an intermittent thermostat error, which they said is fine for now but that I have to keep an eye on the engine temperature.

Conclusion

The convenience of easily being able to export mileage for tax purposes and refuelling stops as well as being able to locate your car at anytime should be more than enough to qualify it as a pretty useful companion for your car.

Add to this the fact that it is completely free from Mercedes, and that makes it an absolute no-brainer. Should you not like it, simply unplug the adapter and uninstall the app. The only thing lost is half an hour while the Mercedes technician sets it up, ensures it is working and gives you a crash course on how to operate the app.

The adapter will only work in Mercedes Benz models from 2002 onwards. No warranties are lost, as the adapter does not increase the car’s performance and is a genuine Mercedes part.

2017 models and above do not need the adapter as everything is installed when the car is manufactured. All one needs to do is install the app and pair it with the car.

Get the Mercedes me iOS app here

Get the Mercedes Me Android app here

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Durban FilmMart wants African documentary projects

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Submissions for documentary and feature film projects in development for the Durban FilmMart  (DFM) close next week on 31 January 2020. The organisers are making a special call-out to documentary filmmakers who have projects to submit.

“We invite documentary filmmakers to submit their projects no matter how early in its development it is, so long as it has a producer and director attached to it,” says Don Edkins well-known documentary filmmaker and the DFM’s documentary film mentor. “The DFM is a brilliant way in which filmmakers are able to galvanize interest in their ideas, get people excited about being involved or helping them develop the project. It may be that the project could then be taken to its next level by being invited to another market for further development, or find financing through the pitches. The possibilities are endless.”

The DFM, which takes place from 17 to 20 July 2020, will host 10 documentary and 10 feature projects at its co-production and finance forum. The producer, director or writer on the project must be an African citizen and can either be living on the continent or in the Diaspora.

‘Documentary filim has over the last years really come into its own,” enthuses Edkins. “We see how the genre has evolved from its more information-driven newsreel-style to a narrative or ‘story-driven’ approach,” he says. “It makes the film genre so much more accessible for its audience, drawing them in and engaging them, yet still making strong statements or creating its requisite impact.”

Countless film projects have gone from a simple concept and idea at the Durban FilmMart to the big screen over the 11 years.

Some examples include the 2011 project Buddha in Africa directed by Nicole Schafer (SA) which premiered at HotDocs 2019, and had its SA premiere at Encounters and won Best SA Documentary at DIFF making it eligible for consideration for an Oscar nomination.  2014 projects which made it to the big screen include Kula – a Memory in 3 Acts directed by Inadelso Cossa (Mozambique), The Colonel’s Stray Dogs directed by Khali Shamis (SA), The Sound of Masks directed by Sara Gouveia (SA/Mozambique), Alison directed by Uga Carlini (SA). The 2015 alumni projects which were completed include Amal directed by Mohamed Siam (Egypt), Not in my Neighbourhood directed by Kurt Orderson (SA), The Giant is Falling (working title After Marikana) directed by Rehad Desai (SA) had its international premiere at IDFA. The 2016 project The Letter directed by Maia von Lekow and Chris King (Kenya) premiered at IDFA in 2019 and also from that year, Working Womxn directed by Shanelle Jewnarain (SA) is in production.

“There are plenty more examples of films that have pushed through from their initial concepts, into production and then onto distribution and or screening,” says Edkins. “The documentary film community in Africa is still small and working with the DFM we try to find new talent constantly and work with the industry to hold space for the documentary. I know there are highly creative and talented people out there who have brilliant ideas, and I would like to encourage them to submit these for consideration for this year’s edition.”

To submit a project go to http://www.durbanfilmmart.co.za/ProjectSubmissions

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