The problems on which Quobyte focuses — the infrastructural and operational challenges of handling big data — are increasingly important challenges for many financial firms
SANTA CLARA, Calif. (PRWEB) May 04, 2018
Quobyte® Inc., a leading developer of hyperscale storage system software, announced today that it has accepted an invitation to join the STAC Benchmark™ Council, an influential group of technologists in the finance industry. In addition, Quobyte will participate with an Innovation Roundup presentation at the upcoming STAC Summits™ in Chicago and New York City. These moves are key steps as the company offers insights and tools to help the financial industry solve its most challenging technology infrastructure problems.
Data scientists in this competitive market are constantly developing and testing algorithms and running millions of strategies against many years of historical trading data. These tests require high performance compute nodes and storage systems that can keep up with the insatiable demand to feed many years of historical and modeled data into the algorithms. The workloads are similar to workloads in the High Performance Computing (HPC) space. As such, HPC researchers and supercomputing centers have spent years addressing the evolving compute and storage infrastructure requirements to tackle these ever challenging workloads. Quobyte has solved this challenge for their Financial Services customers by providing hyperscaler advantages to the storage infrastructure with simultaneous parallel file access across hundreds of compute nodes and having the ability to support massive amounts of small files while linearly scaling performance and capacity.
“With over 80 petabytes (PB) of storage now in production, many of which are implemented at our Financial Services customers’ sites, Quobyte provides massively scalable software storage to allow the industry to take advantage of the insights they can gain from the extensive amount of historical trading data they have collected,” said Björn Kolbeck, Quobyte’s CEO and Co-Founder. “We’ve found that Quobyte storage software running on a cluster of industry standard whitebox servers can significantly reduce time spent on backtesting — literally converting time saved into money.”
The STAC Benchmark™ Council is a large group of technology experts that seeks to reduce the considerable time and effort the finance industry invests in evaluating technology solutions by developing benchmark standards and enabling dialog. Facilitated by the Securities Technology Analysis Center (STAC®), the Council consisting of over 300 financial institutions, ranges from the largest global banks, brokerage houses, and exchanges, to hedge funds, proprietary trading shops, and vendor organizations.
“We are pleased to welcome Quobyte to the STAC Benchmark Council,” added Peter Lankford, STAC’s Founder & Director. “The problems on which Quobyte focuses — the infrastructural and operational challenges of handling big data — are increasingly important challenges for many financial firms.”
“Our Financial Services customers’ demanding workloads are similar to challenges our hyperscaler storage software has solved in HPC, Life Sciences, and Media & Entertainment,” continued Kolbeck. “In addition to performance and scale, they need data integrity, responsiveness to changing workloads, easy integration of new assets, and self-healing data availability when network and system failures occur without adding any additional administrative staff. Quobyte is excited to bring this experience to the important work of STAC and the industry leaders the organization has attracted to the STAC Benchmark Council.”
Quobyte will be participating at the STAC Summit, High Technology in Finance, in Chicago, May 7, 2018 and STAC Summit, High Technology in Finance, in New York City, June 13, 2018.
More information on Quobyte storage software for Financial Services is available at https://www.quobyte.com/financial-services.
Building on a decade of research and experience with the open-source distributed file system XtreemFS and from working on Google’s infrastructure, Quobyte delivers on the promise of software defined storage for the world’s most demanding application environments including High Performance Computing (HPC), Media & Entertainment (M&E), Life Sciences, Financial Services, and Electronic Design Automation (EDA). Quobyte uniquely leverages hyperscaler parallel distributed file system technologies to unify file, block, and object storage. This allows customers to easily replace storage silos with a single, scalable storage system — significantly saving manpower, money, and time spent on storage management. Quobyte allows companies to scale storage capacity and performance linearly on commodity hardware while eliminating the need to expand administrative staff through the software’s ability to self-monitor, self-maintain, and self-heal. Please visit http://www.quobyte.com for more information.
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