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C24 and GigaSpaces partner to create world's most scalable matching engine

LONDON, 22nd March 2004 - C24 and GigaSpaces partner to create the first truly scalable, Grid-based matching and reconciliation engine for financial services.

C24's Integration Objects (IO) have been integrated with GigaSpaces' Jini implementation providing the first truly scalable, high performance, highly available matching and reconciliation engine. C24's IO technology provides the ability to convert FpML, MurexML, SwapsWireML, SWIFT, FIX and many other message standards into Java Objects. Complex matching rules can be applied to these objects and sent to GigaSpaces' JavaSpace engine, the rules can then be executed across a number of networked machines. Initial tests on Sun's Blade servers demonstrate linear scalability and performance figures as yet unseen on traditional RDBMS based engines.

Nati Shalom, CTO of GigaSpaces said "Through the integration with C24, we realise grid capabilities such as dynamic scalability and on-demand utilization of hardware resources. All this using commodity infrastructure such as Linux on Blades as an end-to-end solution for specific business requirements within the financial industry"

John Davies, CTO of C24 commented, "We've had tremendous success with IO in it's traditional role with SWIFT but it's recently come into its own as businesses have started to discover the many pitfalls of using XML for message transfer. Partnering with GigaSpaces takes IO from component-ware to being part of a solutions, Sun's Jini technology implemented and packaged by GigaSpaces provide superior scalability and performance over JMS, simplicity and cost over EJBs and yet provide rich integration from J2EE though .NET to WebServices."