Turbotodd

Ruminations on IT, the digital media, and some golf thrown in for good measure.

Archive for May 17th, 2017

IBM And Chile’s Santiago Exchange To Deliver First Securities Lending Blockchain Solution

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IBM and Chile’s Santiago Exchange, the largest in the country, today announced a partnership to introduce blockchain technology across the country’s financial sector.

The agreement makes the Santiago Exchange the first stock market in Latin America to apply IBM Blockchain technology within its short selling system for securities lending. Blockchain works as an immutable ledger that records transactions, allowing secure information exchange.

Built by IBM and Chile’s Santiago Exchange, the solution is designed to help reduce errors, possible fraud, and processing time for each transaction, while also improving transaction management and lowering costs. In the case of the Santiago Exchange, the solution will result in significant time savings for the back-office processes.

“The Stock Exchange is a technologically advanced company, which provides the infrastructure and systems for all types of securities transactions and their clearing and settlement.  The Stock Exchange also provides information services and management systems for intermediaries. Incorporating blockchain into our business processes is in line with that purpose and positions us as a forerunner in the financial market,” said the Santiago Exchange CIO, Andrés Araya.

IBM Chile General Manager, Francisco Thiermann, highlighted the fact that the Santiago Exchange is the first stock exchange in Latin America to implement a securities lending blockchain solution. “Our agreement with Santiago Exchange marks another new era of innovation in the stock market. Santiago Exchange is a pioneer in its industry, and the blockchain adoption establishes a transformational precedent in the financial market, not just in Chile but in this region and the world,” he said.

The solution developed by IBM is based on the open source Linux Foundation’s Hyperledger Fabric. The solution is expected to be widely available to support multiple parties across the financial industry ecosystem this year.

Written by turbotodd

May 17, 2017 at 11:02 am

Bombardier Selects IBM Services And Cloud

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Bombardier is extending its long-term partnership with IBM through a new six-year deal valued at approximately $700 million, which includes IBM Services and IBM Cloud management of Bombardier’s worldwide IT infrastructure and operations.

The services management agreement spans 47 countries and represents one of IBM’s largest cloud partnerships in Canada.

“As part of our turnaround plan, Bombardier is working to improve productivity, reduce costs and grow earnings. This IT transformation initiative will help us better integrate globally to create a best-in-class IT organization,” said Sean Terriah, Chief Information Officer, Aerospace and Corporate Office, Bombardier. “With IBM, we will transform our service delivery model to focus on our core competencies, and leverage the best practices of our strategic partner across our infrastructure and operations.”

“Bombardier’s global decision to extend its existing partnership with IBM and move to IBM Cloud is recognition of our broad expertise and experience helping our clients transform the business of IT to be more competitive, agile and secure through cloud computing and industry services best-practices,” said Martin Jetter, senior vice-president, IBM Global Technology Services. “We look forward to further developing our relationship with Bombardier and working with the talented team there.”

IBM Watson, which is available only on the IBM Cloud, provides enterprise-grade machine learning, artificial intelligence and cognitive technologies to better support agile decision-making for enterprise clients who need to quickly glean insights from their data – 80 per cent of which is not accessible through search.

Written by turbotodd

May 17, 2017 at 9:06 am

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