一次,纽约证券交易所成员画bourse's windows black so that outsiders couldn't spy on the frenzied gesticulations of its traders and somehow divine the market's direction. Now, of course, computers instantly disseminate information from the exchange floor to the farthest burgs. And trades are increasingly executed electronically, a fact the NYSE acknowledged in April when it acquired automated exchange operator Archipelago Holdings. That deal had barely closed when Big Board CEO John Thain struck another: a proposed combination, also valued at $10 billion, with the fully electronic pan-European stock and derivatives market Euronext.
所有这项交易的目的是纽约证券交易所集团，正如新的贬低和公开交易的公司现在所知，将能够通过在更多种类的证券和更多地球仪巩固全球的地球上进行更多的交易来提高其利润处理这些事务的基础架构。那项工作的后半部分落到纽约证券交易所集团首席技术官的史蒂文·鲁比诺。他的任务并不容易：如果欧洲交易所交易赢得股东和监管机构的批准，纽约证券交易所将不少于三个不同的交易系统和十个数据中心。最大限度地减少它们之间的重叠将是大板未来盈利能力的关键。一个特别是棘手的问题是如何嫁给系统，使纽约证券交易所计划的混合动力车市场旨在融入基于楼层和自动交易的最佳属性，可以与群岛和欧欧克经营的电子匹配平台共享技术。
Another big challenge for the company is business continuity planning. The NYSE remained shut for four days following the 9/11 terrorist attacks - even as competing electronic exchanges stood ready to do business - in part because it lacked sufficient backup for its trading floor. Five years later the exchange seems resigned to the likelihood that if the floor is rendered inoperable, customers will, as Rubinow puts it, "switch their business to another surviving trading venue."
Rubinow在纽约证券交易所合并前五年是CTO。在20世纪90年代初，他担任富达投资的公司管理信息系统副总统 - 在那里他负责在40多个部门中融合系统 - 在离开波士顿为硅谷之前。在那里，他作为在线消费者信用的首席技术官在线上的CTORGENT NextCard和在线广告公司Adknowledge的首席信息官，该公司于2001年被互联网投资基金CMGI收购。
The CTO says his start-up experience is the most valuable asset he brings to the NYSE. "I have an acute sense of time-to-market issues," he says. "You do things at a small organization that a large company would deem impossible. When I came to NYSE, I said, 'Don't let the nonessential things distract you.'"
最近Rubinow discussed the NYSE's technological future with Institutional Investor Contributor Julie Segal.
Institutional Investor: What is the NYSE's technology strategy?
Rubinow：它是三个零：零延迟，零成本和零停机时间。这就是客户所期望的。虽然那些是高尚的目标，你无法真正实现它们，但你可以争取他们。我不想要的是为另一个牺牲一个属性。我也是一个简单的忠实粉丝。简单的系统更便宜，更易于维护。当事情不可避免地出错时，难以弄清楚错误的位置。例如，我钦佩谷歌，但它是一个高度分布式的公司，拥有一个复杂的模型中数以万计的服务器。我们需要更简单的系统，具有较少数量的运动部件。我也想尽快将系统出门。 We don't want to be laggards and sacrifice an opportunity because we took too long.
What's the biggest technology challenge you face?
The biggest challenge is not technology at all. It's not hardware or software. It's getting the people of NYSE, Arca and SIAC [Securities Industry Automation Corp., a technology systems entity owned jointly by the NYSE and the American Stock Exchange] on the same page, and that takes time. A lot of processes and bureaucracy develop over time. In a start-up you don't have that legacy, and there's the appetite to get stuff done. We need to get the right amount of process to keep things together without slowing things down. Some people think that if you just follow the process, then the operation was a success even if the patient died. Some people here think I'm being too aggressive and that I don't give enough credit to process. But it's not up to me - it's the competitive market we face.
You've cut technology staff in recent months. Will that continue?
从来没有裁员的好时机，我无法预测未来，并说我们已经完成了。但我们必须用更少的方式做更多的事情。答案是提高生产力，这与工作80小时工作不一样。我们必须更加努力地工作，具有更大的紧迫感。
What are your disaster backup plans?
我们为典型的灾害情景 - 电源故障，软件错误，硬件故障 - 来自Arca的数据中心和纽约的纽约证券交易所的数据中心以及在本地地理位置。我们有多样性的电源，网络供应商和其他系统，以保持业务流动。在更灾难性的情景中，如9/11，如果市场中心脱机，人们会将他们的业务转向另一个幸存的交易场所。从广泛的角度来看，金融市场将被维持，因为市场是相互关联的，客户也有备份计划。这不是Preagrement - 我们没有要求其他人支持我们，反之亦然 - 但剩下的运营网站将接管，因为人们寻求交换地点，以便做生意。
What's your strategy for integrating NYSE's systems with Arca's?
A couple things are guiding us. One, Arca has low costs and low latency, but reliability is a tiny bit behind the NYSE systems. On the other hand, NYSE has emphasized reliability, but cost and latency have not been as important. If you could shuffle those two decks of cards, it would be a perfect combination. We also need to consolidate common elements between the two systems. Each market has its own customer gateways for orders and its own way to distribute market data, for instance. We only need one of each. NYSE has superb floor technology. The trades submitted from the floor have to go to a trading engine, and both NYSE and Arca have those. So we're putting those together too.
What about merging Euronext's platforms with your own?
我们有许多关于我们想要做的具体想法。总的来说，我们有太多的一切，我们需要煮沸。例如，在纽约证券交易所和欧欧克之间，我们有十个数据中心。这将被贬低至四。我们有两个股权和两个衍生品系。我们需要一个。但我们仍然需要根据客户，成本和监管问题弄清楚正确的平台数量。
Can you have multiple platforms and still deliver the operational efficiencies that shareholders want?
Our ideal has always been to have multiple products trade on a single platform, but the question is whether that makes sense in this case. Can a single platform meet all the different needs our customers have? These multiple platforms may have to exist because of local requirements, as in one obvious example regarding latency. If a trader in Paris is very latency-sensitive and we send that transaction to the U.S. for processing, latency will clearly become a problem. But even if we stick with multiple platforms, we can get the efficiencies we need because we will still have fewer systems than we have today.
Will finishing the NYSE-Arca integration slow down the merger with Euronext?
当我们努力完成纽约证券交易所和阿里卡之间的集成时，我们正在考虑EureOxt将适合的地方。这笔交易尚未完成，但我一直提醒我的员工以在他们的脑海背面保持欧洲欧洲欧洲咖啡，并保持某些系统的门对Eureonext开放。我们准备了。我不想过度简化，但这些都是交易系统。我们并不尝试将交易系统与航天飞机融入。