IBM stated on Wednesday that it has signed a 10-year IT services contract with DSE valued at Rs.11crore for handling its IT infrastructure. According to the Rs.11crore contract, IBM will supply business continuity and disaster revival services to DSE and distantly host and direct its IT infrastructure. This will assist the exchange fulfill the rigorous business continuity rules as presented by SEBI before it can begin its operations again after a break of six years.
DSE is planned to resume its operations in the following few months. DSE will also accumulate 100% capital outlay on IT by occupying with IBM in a total operational expenditure model. DSE is one of India’s biggest stock exchanges, present for more than 60 years. Nevertheless, the exchange became stationary due to insignificant trading volumes in 2002.
The exchange seeks to revive itself and IBM will play an important role in assisting DSE turn live for trading by offering an extremely safe environment and resiliency solution with the objective of zilch data loss once the exchange gets operational later in 2009.
Reportedly, IBM will construct, host and supervise the whole disaster revival infrastructure for DSE from its data hub. It will also supply 24×7 monitoring facilities for networking and hardware devices from its control centre.