The financial services sector is a critical market segment for Intel - and we recognise that risk analytics is a key function for the industry
Vancouver, BC and New York, NY (PRWEB) May 21, 2008
QuIC Financial Technologies Inc., a leading global solutions provider of risk management, pricing and financial analytics solutions, is pleased to announce that they have set new standards for performance metrics for the company's Integrated Market and Credit Risk solutions as a result of incorporating new technologies from Intel and DataSynapse.
By running the Quad-Core Intel® Xeon® 5400 series processors on GridServer® software from DataSynapse, QuIC's Unified Market and Credit Risk Solution has achieved extremely fast calculation time. The portfolio benchmark which included Credit Derivatives, Interest Rate Derivatives, Equity Derivatives and FX Options was calculated within 40 minutes. In addition, performance metrics based on accuracy, reliability and interoperability were improved, resulting in more flexibility and lower costs for risk managers.
"We are extremely pleased to be partnering with both Intel and DataSynapse," said Tony Coppellotti, Chief Technology Officer for QuIC. "During our test, we ran two Integrated Market and Credit Risk portfolio calculations featuring this new technology engine and the results beat our expectations for speed and reliability. Incorporating the technologies from both Intel and DataSynapse allowed us to accelerate the calculation time without sacrificing the end results."
Intel's new Xeon 5400 chip represents a huge performance leap forward and achieves enhanced performance. QuIC found that Intel's latest generation of 45nm Quad-Core Intel®Xeon® 5400 series processors have managed to deliver ultra-low latency and significant performance increases in algorithmic trading, direct market access, and market data delivery.
"The financial services sector is a critical market segment for Intel - and we recognise that risk analytics is a key function for the industry," stated Nigel Woodward, Intel's UK Director of Financial Services. "We understand that the need for both processing speed and power to handle the massive back testing datasets at an enterprise are key criteria for QuIC's financial solutions to be successful. We are pleased to work at the engineering level with QuIC - optimizing our silicon with QuIC's pioneering work in risk calculations. Ultimately this assists in us positioning our infrastructure technologies for the market."
To ensure a more robust and reliable process for the large-scale calculations, QuIC ran the tests on DataSynapse's GridServer software. GridServer® is a service execution platform that dynamically scales enterprise application services based on performance and business requirements. GridServer's simplified approach to enabling business critical application components provided QuIC's Unified Market and Credit Risk analytics a more robust and stable engine during processing periods.
"QuIC's decision to run the Xeon 5400 chip on GridServer enables their team to maximize the true performance of the IA (Intel Architecture)," stated Jamie Bernardin, President and CTO of DataSynapse. "We are very pleased that our GridServer product has enabled QuIC's solution to set new benchmarks for speed and overall performance. We look forward to continuing this strong relationship with the QuIC team."
For more information on the QuIC Unified Market and Credit Risk Solution, please visit http://www.quic.com.
To learn more about GridServer® by DataSynapse, please visit http://www.datasynapse.com.
About QuIC Financial Technologies, Inc.
QuIC is a global solutions provider for risk management, pricing and financial analytics. The QuIC Engine™ provides speed, flexibility and scalability for pricing and risk calculations regardless of volume or complexity. QuIC technology delivers scalable, dynamically extensible and user-customisable solutions to multiple recipients throughout the enterprise. The QuIC Product Suite™ easily integrates with in-house, partner and third-party applications & systems and operates in diverse environments, from a single laptop to large distributed grids. For more information please visit http://www.quic.com.
DataSynapse is a world leader in dynamic application service management software for the always-on, always-responsive data center. The DataSynapse platform is used by leading organizations to deliver, manage, and optimize scalable enterprise-class application services. DataSynapse provides a standardized, automated approach to configuring, activating and scaling enterprise applications in real-time environments for many of the world's leading companies. For more information, please visit http://www.datasynapse.com.
QuIC Financial Technologies
Marketing and Communications Manager
Tel: +1 604 648 1107
Fax : +1 604 689 1361
Director of Marketing Communications
QuIC Financial Technologies Inc.
Tel: +1 646 460 3972
Fax : +1 617 225 0161
QuIC, the QuIC logo, and QuIC Analytic, QuIC Analytics - XL, QuIC Analyzer, QuIC Engine, QuIC Functions, QuIC Integration, QuIC Links, QuIC Mechanics, QuIC Network Engine, QuIC Platform, QuIC Product Suite, QuIC Publisher, QuIC Script, QuIC Simulation Framework, QuIC Run, QuIC View, and QuIC Workbench product names are trademarks of QuIC Financial Technologies Inc. or a licensor in Canada, the United States and/or other countries.