For the purpose of this book, we define systems as the combination of computer hardware and software, usually organized for a specific purpose or to perform one or more tasks. These purposes or tasks are commonly referred to as applications, which individually and collectively produce the information in support of the markets. In Part 2, we explore the data that financial systems consume and produce. In Part 3, we look at networks linking systems and passing data among different functions and financial entities.

The Open Systems Interface Model and Our Approach

The International Organization for Standardization (ISO) is a global body that works toward creating standards that make all manner of commercial and technical interactions ...

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