Mainframes still mainstream: How financial markets are embracing and evolving 'legacy' IT

Tech giant IBM is targeting security, AI, and portability in the modernization of the mainframe as firms report still retaining “the workhorse of the back office.”

It’s the 1930s; Franklin Delano Roosevelt has been elected president, the Securities Act of 1933 and the Glass-Steagall act have been enacted, and a mathematician named Howard Aiken, a researcher at Harvard University, leads a group of engineers at IBM to design and build the Harvard Mark I, one of the world’s first large-scale computers. The Harvard Mark I, or the IBM Automatic Sequence Controlled Calculator, would start running in 1944 to assist in World War II efforts and be used in the

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