New Zealand stock exchange begins IT overhaul

New Zealand stock exchange begins IT overhaul

New Zealand's stock exchange (NZX) is consolidating 21 operational databases into a single platform powered by the Oracle Database 10g.

Oracle says the overhaul will improve service levels by allowing queries to be answered faster and result in reduced operational costs. As a result of the implementation, database queries on historical trades are expected to run 600 times faster, delivering answers in 0.03 seconds as opposed to 36 seconds.

Chris Corke, chief information officer, NZX, says: "It is crucial that we continue to identify the best tools to meet our needs. A single source of data is a significant component in helping us achieve this as well as meet internal and external performance targets."

The implementation of the Oracle Database 10g completes the first phase of an on-going project to build a new information architecture at the Exchange. The next phase will require the consolidation of information from 20 third-party databases, while stage three will include the addition of customer relationship management (CRM) tools.

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