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Published: 18 Oct 2012

BERNARD DONNELLY As vice president of quality assurance for the Philadelphia Stock Exchange, Bernard Donnelly is responsible for the security and availability of a network that approaches 100 Gbps and 500,000 quotes per second. To add to the complexity, the exchange recently implemented a wireless trading network that relies on handhelds and demands ironclad security and unquestioned availability. Why did you move to a wireless trading system given all of the security issues that it can create? Two years ago we made the strategic decision that we couldn't be floor-based anymore. It was just too chaotic. We came up with the handheld trading system, which monitors the markets to generate quotes on behalf of the traders. The member firms have the same capability on a larger scale, but we had to do it in order to stay ahead of what everyone else is doing. What special measures did you take to secure the wireless trading network? First off, nobody comes directly into our network. They have to go through a variety of authentication and authorization mechanisms and... Access >>>

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