Commentary: Exchanges must improve technology processes

05/6/2013 | Wall Street Journal/CIO Journal, The

William Brodsky, CEO at the Chicago Board Options Exchange, said that after its recent technological glitches, the exchange will postpone a software update needed for extending trading on Volatility Index futures contracts. CBOE's decision exemplifies the ways that the financial sector is struggling to modernize its technological processes, writes Steve Rosenbush. The industry needs to look toward consumer Internet companies as a model for how to achieve efficient technological outcomes, Rosenbush writes.

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