The grid has been deployed at BNP Paribas' London operations, and will be rolled out to additional sites in New York and Tokyo, as well as across multiple business lines, including the credit and interest rate derivatives group. BNP Paribas London has deployed GridServer across HP blades in the bank's structured credit group to improve performance of its CDO business. By sharing IT resources, BNP Paribas will also increase utilisation of existing hardware and reduce capital spending requirements.
The DataSynapse solution radically improved application response time by creating an environment where heterogeneous system resources are pooled,
virtualised and allocated as needed to eliminate IT constraints and processing bottlenecks. This available computing power enables BNP Paribas to accelerate more complex derivatives to market, while increasing the ability to trade larger volumes. Furthermore, with the ever-increasing need and appetite for understanding risk, the bank is now able to apply more complex scenarios and analytics to improve pricing.
"DataSynapse has increased the performance and resilience of our trading applications, enabling us to trade more complex exotics at larger volumes, while speeding overnight batches," said Dipak Shah, head of structured credit IT at BNP Paribas.
"The grid allows us to maximise computing processing resources without major investments in new hardware or expansion of our existing data centres. We look forward to working with DataSynapse in the deployment of its grid solution across our global business operations."
This announcement further confirms DataSynapse's leadership position in the financial services industry in Europe. The company continues to build an impressive customer list in the region, adding several new global financial institutions to its client base this year.
"We are seeing tremendous take up of grid computing services across Europe as firms are becoming aware of the unique opportunities of grid technology," said Willy Ross, managing director of Europe, Middle East and Africa (EMEA). "DataSynapse's grid software is a cost-effective alternative that enables greater re-use of IT assets and the faster delivery of value to the business. For BNP Paribas this means outstanding results which DataSynapse underpin with a dedicated EMEA professional services team."
DataSynapse's success in EMEA is largely due to its innovative product offering, which addresses industry demands for an agile and responsive IT infrastructure, enabling organisations to realise the benefits of a shared computing environment - from increased utilisation to reduced overhead and support costs.