June 19, 2001 — Berkeley, CA
Financial Engineering Associates, Inc. (FEA) announces that the company has ported three of its most widely used analytic programming libraries to the Turbo Linux operating system running on Intel® Itanium-based systems. Itanium-based systems were launched in the marketplace on May 29, 2001.
FEA’s Globlib, Erglib and Spavlib derivative pricing libraries have each been released in versions compatible with Intel’s new Itanium 64-bit architecture. FEA software currently runs on Sun Solaris, HP/UX, IBM AIX, Linux and Microsoft Windows platforms.
Since 1989, FEA has developed and marketed analytic software components that now form the foundations of option pricing and risk management systems worldwide. FEA markets its analytics directly as Excel add-in functions, and as embedded components of systems offered by FEA Alliance Partners, including Alstom (NYSE:ALS), Caminus (Nasdaq:CAMZ), PeopleSoft (Nasdaq:PSFT), Algorithmics, Inc., and Triple Point Technology, as well as two dozen other well-known companies.
FEA Alliance Partner Algorithmics has already begun work with the Itanium-ready FEA Erglib library to serve energy clients upgrading their systems to Intel’s Itanium chip technology. FEA’s Erglib, and the companion FEA @ENERGY add-ins, have become the recognized standard for derivative pricing and risk management in the global energy and power industries.
“FEA intends to be at the forefront of technological advances that are of strong benefit to our clients and alliance partners,” commented Mark Garman, FEA Chief Scientist and President. “We worked rigorously to ensure that FEA analytics would be ready in time for the launch of the new Itanium systems. We succeeded. FEA users can begin benefiting from the new technology today.”
FEA believes that Itanium-ready FEA analytics will ease clients’ transition to the realm of faster, more flexible technology infrastructures. According to Intel, Itanium-based systems provide better performance, scalability, availability, and choice for enterprise and technical applications.
“Designed for the enterprise from the ground-up, Itanium systems enable breakthrough levels of parallelism and performance with processor and platform features supporting mission-critical reliability and availability,” said Victor Krutul, director, Intel Solutions Enabling Group, “We believe FEA’s analytic programming libraries running on Itanium-based systems will bring great performance and value to users.”