All is not well at a leading commodity bourse , so we hear. The plan was to launch an upgraded version of the exchange software by end of next month, but it now appears that the IT services vendor will not be able to deliver on time. So the management has gone back to the original licensor of the software, which is also responsible for the maintenance of the systems. But buzz is that the promoter of the licensor firm is demanding his pound of flesh now that the balance of power has shifted in his favour.
Understandable, since his firm was kept out of the bidding process for the software upgrade. Since his firm is under no legal obligation to maintain the software after the current contract expires, he is said to be allegedly demanding a king’s ransom to stay on till the new software becomes operational. Frantic parleys are on to resolve the matter, but the licensor is playing hard ball. As they say, revenge is a dish best served cold.
