NEW YORK CITY, New York (August 7, 2003) – Axiom Software Laboratories, Inc., a global leader in risk management and enterprise data technologies, announced today that it has completed performance testing of Powerllel Software and has chosen Powerllel Software for integrating with its RiskMonitor® application to run in a distributed and parallel computing environment. Through this integration, Axiom SL’s customers, including major financial institutions, asset managers and energy companies, will be able to benefit from Powerllel technology to obtain the order of magnitude performance benefits provided through parallel and distributed computing.
"The performance of risk management applications is key for providing trading units and senior management with the necessary information they need to understand their risk exposure and make effective decisions," says Alex Tsigutkin, CEO of Axiom SL. "Powerllel provides Axiom SL a flexible and robust technology that has made it easy to implement parallel computing into our products," says Tsigutkin. "Powerllel’s software allows for dramatic speed of computation that we are quickly passing along to our customers."
Powerllel Software significantly reduces the development time, costs and risks associated with adapting risk management and trading applications to run in a distributed and parallel computing environment. Powerllel can be used for both simple and complex parallel computing problems associated with trading and risk management applications and supports both "coarse grain" and "fine grain" parallelism. The order of magnitude benefits of Powerllel Software may be realized with a local cluster of machines, blades or as part of a larger grid solution.
"Powerllel is excited about working with Axiom SL as they have been offering innovative technology for enterprise-wide risk management solutions to financial institutions for over a decade," said Eliot Listman, CEO of Powerllel. "Through the integration of Powerllel Software with Axiom SL’s risk management systems we deliver a resource-effective solution that meets the increasing performance and business demands of financial services organizations."
Axiom SL's proven technological advancement continues to meet the rigorous challenges of its users in adapting different data environments to allow mission-critical activities to be performed across an entire organization. The company serves major global financial institutions, large corporations, asset managers and energy companies.