Datacraft Rolls Out First IP Network For Korean Stockbrokers
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[Johannesburg, SOUTH AFRICA] Datacraft Asia, a subsidiary of South African IT company Dimension Data, has completed the implementation of the first Internet protocol multicasting network in the Korean financial sector. The network, designed and implemented for the stockbroking division of the Hyundai Corporation, Hyundai Securities, will provide the company's 1,2-million Asian customers and 150 branch offices with real-time access to financial and stock information from the Korean Stock Exchange.
Hyundai Securities also expects to use the IP network to provide an online 'Home Trading' service for investors across the country in the near future. Cyber branches will also be opened based upon the Datacraft network allowing investors without an available PC to trade over the Web using the Hyundai system. Both of these services are expected to be operational before the end of the year.
Datacraft Asia, a company listed on the Singapore Stock Exchange, made extensive use of Cisco Systems routing technology in establishing the system. Hyundai System Team Manager Dong-woo Han explained that the system was a necessary upgrade in light of the exceptional growth of the Korean Stock Exchange.
Hyundai revealed that this is the first time that a company operating in the Korean financial services sector has implemented an Internet protocol system of this nature. Korean securities companies have typically relied on a unicasting network model, a system that sends individual packets of information to one specific destination. The IP model sends information to a multicast group with a single IP address from where it is disseminated to specific destinations. This places less stress on the network, minimizing the risk of failure.