Computershare - Provider of Trading Platform to Fixed Income Exchange

I clipped the following from an article in the IT section of the BusinessWorld today:

"The FIE will really be a big hit in the Philippines. Like what we have provided in the Swiss capital market, the system is capable of administering 8,000 orders per second," Ms. Muliawan noted.
The Philippine Dealing and Exchange Corp. (PDEx) just purchased X-stream at P450 million.
PDEx, who will manage the FIE, saved P50 million from the deal because it made Computershare part owner of the firm. Computershare aside from being the technology provider also owns 10% of the PDEx.

The article would appear to be press release which featured a Ms. Lina Muliawan, project manager for the FIE project.

We will leave it to PDEx to enlighten the industry on the costing of system and the savings generated by giving the vendor equity in PDEx. Last we looked, the same PhP450 million was held out as the capitalization of PDEx.

8000 orders per second. Nobody needs to tell me that costs a lot of money to have that impressive capability. If PDEx is concentrating on institutional trades rather than retail, then we are only looking at 300 to 400 trades per day. Gosh, since IT depreciates so rapidly (my IT friends tell me that every 2 years, you pay half of what you would have otherwise bought for today for twice the power), did we pay for something now that we will need some 7 years from now, if we're lucky?

Again, this all ends up as costs that are going to be passed on to both the borrower and the investor.