Dubai Gold & Commodities Exchange works with IBM to better secure its online trading services without sacrificing overall performance.

Published on 26-Jun-2009

"Our entire business depends on the availability of our network and its performance, and the IBM product helps maintain our uptime. In fact, since we put it in place three years ago, we have maintained system uptimes of over 99.9 percent." - Basab Banerjee, head of technology, Dubai Gold & Commodities Exchange

Customer:
Dubai Gold & Commodities Exchange

Industry:
Financial Markets

Deployment country:
United Arab Emirates

Solution:
Smarter Planet

Smarter Planet:
Smarter Banking, Smarter Risk Management

Overview

Dubai Gold & Commodities Exchange works with IBM to better secure its online trading services without sacrificing overall performance.

Business need:
Strengthen the overall security of an online trading system without sacrificing system performance

Solution:
Work with IBM Internet Security Systems to protect key IT systems with IBM Proventia® appliances

Benefits:
- Helps secure 99.9 percent system availability - Increases the security of financial data, preventing outside intrusions or virus attacks - Encourages higher customer-service levels

Case Study

Dubai Gold & Commodities Exchange works with IBM to better secure its online trading services without sacrificing overall performance.

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“Our entire business depends on the availability of our network and its performance, and the IBM product helps maintain our uptime. In fact, since we put it in place three years ago, we have maintained system uptimes of over 99.9 percent.” - Basab Banerjee, head of technology, Dubai Gold & Commodities Exchange

Challenge
Strengthen the overall security of an online trading system without sacrificing system performance

Solution
Work with IBM Internet Security Systems to protect key IT systems with IBM Proventia® appliances

Key benefits
- Helps secure 99.9 percent system availability
- Increases the security of financial data, preventing outside intrusions or virus attacks
- Encourages higher customer-service levels

As Dubai has been distinguishing itself as an epicenter for trade in the Middle East and surrounding regions for the past several years, it seemed only logical to the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and the Multi Commodity Exchange of India Ltd. (MCX) to form the region’s first commodity derivatives exchange—the Dubai Gold & Commodities Exchange (DGCX). This exchange, trading in gold, silver, currency and oil futures, supports electronic trades from its 230 member organizations located around the globe.

An avoidable sacrifice
At its founding, DGCX (www.dgcx.ae) distinguished itself as an innovative commodities exchange by deploying a complex online trading system to support members from Japan to New York. And, with transactions coming from so many locations, DGCX had deployed a high performance network infrastructure designed to offer responsive, uninterrupted service to traders.

Of course, accompanying this demand for performance was an equal need for data security. “This is financial data, so obviously we need to protect against any unauthorized access,” explains Basab Banerjee, head of technology at DGCX. And, to this end, the business had taken steps to deploy a firewall solution to protect this critical data. However, with the security of its trading data as a priority, DGCX felt that it could do more.

An obvious choice
“We had done some research in the marketplace, obviously,” recalls Banerjee. “We were investigating which product would be the right choice to provide the necessary security without compromising performance.” And, after an onsite demonstration of the IBM Proventia® Network Intrusion Prevention System and the IBM Proventia Server Intrusion Prevention System, DGCX was confident that it had found the right solution. “The scalability was one of the major points of consideration,” continues Banerjee. “We felt the Proventia solution could help ensure that the performance was optimal and that the entire infrastructure was highly reliable.”

Staff from IBM Internet Security Systems deployed the IBM security equipment within the exchange’s existing infrastructure, leveraging its integrable functionality. The Proventia appliances protect against zero-day attacks and help prevent unauthorized network intrusions. DGCX also signed an ongoing services contract with IBM that secures regular update and tuning support to better enable the security solution to deal with recently identified threats and vulnerabilities.

An available service
Since the Proventia solution was put in place, DGCX has seen a steady growth in its business, attributing much of its success to its ability to meet uptime targets and customer service levels. And Banerjee feels that part of this high service quality was a result of the IBM solution. He explains, “Our entire business depends on the availability of our network and its performance, and the IBM product helps maintain our uptime. In fact, since we put it in place three years ago, we have maintained system uptimes of over 99.9 percent.” Over that same time period, the client has also avoided any security breaches or any outages associated with worms or viruses.

“The local support team has been excellent,” adds Banerjee. “We have a very complex network, and, without the assistance of the IBM team, the implementation would have taken much longer.”

For more information
To learn more, please contact your
local IBM sales representative or visit:
ibm.com/services/iss

Products and services used

IBM products and services that were used in this case study.

Service:
GTS ITS Security Services: Infrastructure Security Services, GTS Enterprise Services

Legal Information

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