Definitions for "Open architecture"
Architecture with which third-party developers can legally develop products and for which public domain specifications exist.
When a manufacturer publicly publishes the specifications for their computer, the computer is said to have an open architecture. This allows other companies to create add-ons to enhance and customize the machine, and to make peripheral devices such as external hard disks and scanners that work properly with it. With a closed architecture, only the original manufacturer can make add-ons and peripherals. A computer with an open architecture, such as the IBM PC, also means that other developers can not only make add-on parts, but can also make a similar machine, which spawned the whole world of IBM clones. The Macintosh architecture is only partway open. Apple gives other manufac-turers enough information to make add-in boards and peripherals, but not enough to create a Mac clone.
Open architecture systems are designed to allow system components to be easily connected to devices and programs made by other manufacturers.
Technology that allows multiple product providers to offer their funds through a common platform. Since the development of web-based fund trading many platforms have gone down this route (eg Skandia, Fidelity, Interactive Investor, Egg, Virgin Money etc.
Keywords:  terrible, lose, thing
a terrible thing to lose
Refers to micros that give users the flexibility to configure the system with a variety of peripheral devices.