Tel Aviv Stock Exchange takes control of risks
Company Size
1,000+
Region
- Middle East
Country
- Israel
Product
- NaturalONE
- Adabas
Tech Stack
- Linux
- Eclipse
- Git
- Jira
- Docker
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Digital Expertise
- Productivity Improvements
Technology Category
- Application Infrastructure & Middleware - API Integration & Management
- Infrastructure as a Service (IaaS) - Cloud Computing
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Process Control & Optimization
- Regulatory Compliance Monitoring
Services
- System Integration
- Training
About The Customer
The Tel Aviv Stock Exchange (TASE) is the only exchange in Israel. It provides investors with a reliable and comprehensive trading platform for a wide range of securities and financial instruments including shares, bonds, Treasury bills, ETFs, options and futures for equity indices, options and futures of foreign currency exchange rates. TASE competes for market share with digital-first fintech firms as well as some of the biggest, most powerful exchanges in the world. As Israel is the second-largest home of high-tech startups (next to Silicon Valley), TASE also must compete for IPOs.
The Challenge
The Tel Aviv Stock Exchange (TASE) was facing the challenge of staying at the forefront of technology to reduce risk, improve capabilities, and achieve non-stop operations. They needed to retain knowledge and critical Natural application development of 20-30 years on back-end systems and implement DevOps to give developers more speed and agility. TASE needed to be able to offer digital services on par with new FinTech firms, while adhering to local and global regulations. It also needed to provide services that compete with the larger first-tier exchanges like Nasdaq®, LSE and NYSE. Its first project was to move its clearing and settlement system based on Adabas & Natural to Linux, where its trading system resides.
The Solution
With the help of Software AG, TASE seamlessly rehosted more than 10,000 Natural programs and Adabas databases that processed more than 300,000 clearing and settlement transactions per day from its legacy environment to Linux. This move reduced costs and minimized risks while keeping the advantages of its tailor-made, mission-critical applications and back-end data. For the next phase, TASE wanted to bring all its programmers together under one DevOps-based architecture. Software AG’s Eclipse-based development environment, NaturalONE, integrated easily with the DevOps environment already being used by TASE’s Java®, C++ and Python® programmers. Now development of new applications and enhancements to existing applications is guided by the same DevOps standards and procedures regardless of programming language or models.
Operational Impact
Quantitative Benefit
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