Greater New York City Area (PRWEB) August 27, 2013
According to Reuters on August 22, 2013, the technology failure that halted trading on the NASDAQ for more than three hours this past Thursday brought the nation’s second largest exchange to its knees. The technical glitch further showcases how fragile the U.S. trading platforms are. It was the latest in a series of failures to disrupt increasingly complicated markets that rely on and are driven by spiraling data loads. The potential for a financial calamity is prompting the Securities and Exchange Commission to push for rules requiring executives to improve the reliability of their technology.
"These outages are absolutely going to continue," said Neil MacDonald, a fellow at technology research firm Gartner. "There has been an explosion in data across all types of enterprises. The complexity of the systems created to support big data is beyond the understanding of a single person and they also fail in ways that are beyond the comprehension of a single person."(The Guardian on August 23, 2013)
“As data management becomes increasingly complex, and in the wake of multiple outages, it is an absolute necessity for organizations to deploy mature, proven technologies that have stood the test of time. Human oversight alone cannot keep up with the explosion of data demands. Altibase can handle over 1.4 million transactions per second and no human can intercede at that speed. With the introduction of a litany of unproven and immature products, the real fear is that so many organizations are adopting nascent technologies.” –Chris Chung, CEO of Altibase Inc.
The NASDAQ outage came on the heels of a series of meltdowns at Amazon, Apple, Google and the New York Times. Amazon’s estimated 45 minute crash led to upwards of $5 million in losses according to VentureBeat on August 19, 2013. Google’s five minute outage earlier this month led the search giant to hundreds of thousands of dollars in ad revenue losses and up to 40% of decreased internet traffic during the episode according to CIO Today on August 19, 2013.
“Robust data management, high availability and fail-safe, non-stop operation are the pillars of today’s ecommerce, financial exchanges and industry’s core infrastructure. Altibase simply does not take short-cuts to achieve strict durability, extreme speed and zero-downtime. With over 15 years of pure dedication to In-Memory computing optimization, Altibase has proven itself as the most battle-tested, scalable, mission-critical solution in In-Memory database applications time and time again.” --Chris Chung, CEO of Altibase Inc.
A recent study by Forrester Research found that downtime costs of a leading security company exceeded 8 million dollars per hour. Further, 49 percent of the Fortune 500 experience at least 1.6 hours of downtime per week, which equates to 80 hours annually according to a Dunn & Bradstreet. National Archives & Records Administration in Washington cites that 93% of companies that lost their data center for 10 days or more due to a disaster filed for bankruptcy within one year of the disaster. Further, 50% of businesses that found themselves without data management for this same time period filed for bankruptcy almost immediately.
These outages underscore how tenuous the U.S. stock markets, retailers and core business architectures truly are. With almost $20 trillion dollars traded on over 50 stock exchanges and related electronic platforms, the domino effect of a faulty automated trade execution system can roil the global markets suddenly and without warning.
The impending damage to today’s business is not quantifiable if core systems fail. Altibase is wholly focused on coupling its unmatched expertise in In-Memory databases with the demands of seamless scalability for the geometric growth in data. Altibase has handled the load of quadrillions of transactions in finance, military and manufacturing since 1999, without issue and fortified by a zero failure rate.
For 18 years, with its beginnings as a government sponsored In-Memory computing research initiative, Altibase has been and remains entrenched in rigorous R&D. Known for mission-critical solutions when money and lives are at stake, Altibase delivers peace of mind. With over 500 enterprise clients, and thousands of deployments, Altibase has stood the test of time and comprehensively understands speed, scalability and reliability.
“There are no short-cuts to stability, data integrity and uninterrupted service. Altibase understands how to deliver on these requirements, without fail, through years of experience reinforced by thousands of successful deployments in mission-critical environments.” –Chris Chung, CEO of Altibase Inc.
ALTIBASE HDB™ with its Hybrid architecture combines the extreme speed of an In-Memory database with the storage capacity of on-disk data management in a single unified engine. Altibase is not only vertically scalable but has virtually no limitations to horizontal scalability with absolute ACID compliance. Its solutions have optimized performance, profitability and reliability in areas such as online trading, pairs trading, Algorithmic Trading, authentication, single sign-on, options trading, FX margin trading and FOREX exchanges including but not limited to E*TRADE, Samsung, HP and ministries of defense.
It is widely known that shaving even a millisecond can be worth millions. Altibase defines itself in microseconds. ALTIBASE HDB™ provides ways to drastically increase speed, reduce spend, increase revenue while ensuring complete data integrity, zero-latency and zero-downtime.
Altibase is a world leader in data management systems and provides high performance computing solutions to top companies worldwide
Altibase has helped hundreds of enterprise clients in Telecommunications, Finance, Manufacturing and Government with their growing database management needs.