| The Business Model |
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Most system vendors have a business model that creates a permanent dependency between your business and the vendor.
They sell the executable parts of the system, but keep the source code to themselves. When a customer needs changes or
enhancements made they must go back to the vendor and pay for those changes. And if there is a bug in the system,
they must wait for the vendor to fix the bug. All of this work is prioritized on the vendor's time line, not yours.
The exchange business is extremely competitive and the technology is at the core of the business, so it's essential for an exchange to own their own technology. This keeps trade secrets secret, keeps you in control of system priorities, and owning your own technology helps in the valuation of the exchange. Building in house is risky and tricky. The vast majority of software developers work on software that has much lower performance requirements. Using these developers and methods will produce an exchange that functionally works, but fails under load. For this reason the success rate for new exchange systems is very low. The GlobeMerc model is different. Our goal is to get you technically independent with the latest in exchange technologies. At the beginning of the project GlobeMerc will hand over the source code for the matching engine and provide the development support needed to modify the system to fit the specific needs of the exchange. After go-live we will transition the development work over to your exchange team and make sure they are fully trained and capable of maintaining the system going forward. We have experience in building all exchange components and can provide guidance in these areas as well. |