DataSynapse and Summit Systems Partner to Scale Risk Analysis and Highly Complex Financial Models.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Grid Computing grid computing, the concurrent application of the processing and data storage resources of many computers in a network to a single problem. It also can be used for load balancing as well as high availability by employing multiple computers—typically personal Software Complements Summit's Capital Markets Platform; Improves Application Performance and Transaction Processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. Speed Building on its leadership position in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, DataSynapse, Inc., the fastest-growing provider of grid computing software for commercial applications, and capital markets software leader Summit Systems have partnered to scale front-to-back transaction processing support for financial institutions. Combining the strength of DataSynapse's infrastructure software, GridServer(R), with Summit Systems' trading, operations and risk management platform, the integrated solution improves application performance, resilience and time to market, driving cost savings and revenue generating opportunities for financial services firms. Financial institutions worldwide rely on Summit Systems' multi-asset class treasury and capital markets solution to handle all aspects of trading, risk management and operations. IXIS CIB CIB abbr. Latin cibus (food) , a part of Group Caisses d'Epargne, has been a Summit Systems customer for many years for front, middle and back-office initiatives within the Treasury, Fixed Income and Derivatives divisions. Designed to meet the needs of companies with intensive data and scalability constraints, DataSynapse's GridServer now enables Summit Systems' customers in the financial services sector like IXIS CIB, to optimize application performance by distributing workloads over shared system resources (1) In a computer system, system resources are the components that provide its inherent capabilities and contribute to its overall performance. System memory, cache memory, hard disk space, IRQs and DMA channels are examples. . "The interoperability between Summit Systems and DataSynapse is suited to address IXIS CIB' demand-driven business needs," said Laurent Fernandez, IT Manager for IXIS CIB. "Improving the speed and performance of our applications in a highly scalable IT infrastructure, we are able to quickly and effectively respond to changing business requirements while satisfying the unpredictable demand for computing power." "High margin asset classes are becoming more and more popular with banks and the increase in volume puts a strain on existing IT infrastructures," said Denny Dewnarain, Technical Director, Summit Systems, Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. Operations. "In partnership with DataSynapse we enable our clients to handle even larger volumes of credit derivatives, structured products, pricing and valuation models - distributing proprietary valuation and risk management analytics calculations through GridServer. DataSynapse's GridServer is a critical addition to Summit Systems' product offering." Integrated with DataSynapse's GridServer, customers using Summit Systems' software are able to spread complex calculations across their existing hardware to dramatically speed results. The combined solution also offers guaranteed execution of risk reporting to help improve service-level agreements. "Summit Systems' capital markets system is a critical component of the global derivatives trading, risk management and operational needs at top financial institutions across the globe," said Peter Lee, chief executive officer of DataSynapse. "Combining the computing capability of GridServer with Summit Systems' trading platform is a natural fit, creating an integrated solution that transforms mission-critical applications into cost-savings and revenue-generating opportunities." About Summit Summit Systems provides a proven, technologically advanced, multi-asset class solution for treasury and capital market participants. With headquarters in New York and operations in Paris, London, Frankfurt, Seoul, Singapore and Tokyo, Summit is a world-leader in banking software solutions. Summit is a scalable, open and extendible solution covering fixed income, treasury, derivatives and commercial lending. It provides sophisticated trader tools and risk management combined with rules-based workflow and real-time trade processing - helping financial institutions increase STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. and reduce costs. Founded in 1990, Summit is a wholly-owned subsidiary of Misys plc. www.summithq.com About Misys Banking Systems Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 90% of the world's top 50 banks (Source: The Banker, July 2004), with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries. Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries. Through a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Sesame, it also provides business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in services to independent financial advisors (IFAs) in the UK. Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs more than 6,100 people internationally. For more information, visit www.misys.com. About DataSynapse DataSynapse, Inc. provides grid-computing solutions for the virtual enterprise, helping organizations drive new levels of business performance through the creation of an agile and responsive IT infrastructure. The company's standards-based GridServer(R) software virtualizes data components and business logic found in business-critical applications and distributes these services across available system resources on demand - establishing a utility computing (1) Pay-per-usage processing provided by a service organization that uses its own computers and facilities. Customers access the computers via a private network or over the Internet and are charged according to how much computing time they use, such as CPU seconds, minutes or hours. model that eliminates performance barriers, significantly increases service levels and radically lowers total cost of ownership. DataSynapse works with the world's largest financial institutions including Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank , Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. and Nationwide, as well as market leaders in the government, energy and industrial sectors. The company is headquartered in New York and can be found on the World Wide Web at www.datasynapse.com. |
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