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The case explains why the National Association of Securities Dealers Automated Quotation System (NASDAQ) needed a Surveillance Delivery Real- Time (SDR) system. This case study also examines the stock exchange''s decision to utilise solutions from three different companies, Unisys, Plural and Microsoft. The software development procedure adopted for the system is studied in detail. The case aims at enabling students to: (1) understand the importance of high quality technology infrastructure for an electronic stock exchange; (2) understand the need for constant technological upgrades for on-line financial transaction businesses; and (3) understand the procedure involved in the development and upgrades of customised software. The case is aimed at MBA/PGDBA students, and is intended to be a part of the knowledge, information and communication systems management curriculum.