Wednesday, September 17, 2008

Could open source have helped Lehman's technology customers?

As Lehman Brothers files for bankruptcy, investment banks and brokers using its technology are in the dark about the future of their investments

Computerworld has a very interesting article that reports even as Lehman Brothers was heading toward bankruptcy it invested $309M on technology and communications in the quarter ended Aug. 31. This figure represents a 9.5 percent year-to-year increase, which is down from the 18 percent increase, to $1.145 billion, in IT costs for the full year 2007 vs. 2006.

It seems that Lehman was involved in selling some of its technology, specifically around a high-speed trading platform for equities called Baikal, to a number of investment banks and brokers.

Read More Article...

No comments: