PHLX Rethinks IT with Cognizant


PHILADELPHIA--The Philadelphia Stock Exchange, in conjunction with IT consulting firm Cognizant Technology Solutions, has assembled a blueprint for reengineering its back office, says Tom Wittman, senior vice president of development at the exchange. The project will involve converting its mainframe-based back-office systems to a distributed-server network.

The exchange’s IBM MPS 390 mainframes support homegrown processing systems for equity options and currency options. The systems send data to

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