POWERLLEL AND ITO 33 ENTER STRATEGIC PARTNERSHIP

Powerllel, the world’s leading provider of advanced parallel processing tools for financial services, and ITO 33, the leader in PDE solvers for convertible bonds and other complex derivatives have entered into a strategic relationship today to provide solutions to the financial services industry. Powerllel and ITO 33 will jointly develop and market parallelized solutions to tackle today’s toughest pricing and hedging problems. Together, Powerllel and ITO 33 will provide financial services organizations with a competitive advantage by enabling faster, more efficient solutions to a wide range of compute-intensive applications. This will increase the capacity to run more robust and accurate models, and will add more factors to solve a range of mathematical problems in financial services.

Powerllel’s LOBSTER, a powerful parallel computing engine, is the perfect tool to accelerate the often time consuming processes that are required when pricing the complicated structures that ITO 33’s software solves.

ITO 33’s strength lies in its unique combination of theoretical expertise (ranging from incomplete markets models to default processes used in the pricing of convertible bonds) and of numerical expertise (applied to every one of its products, as proven in Freebound its leading and best selling convertible bonds calculator, which manages to solve all the complications arising in the pricing and hedging of convertible bonds). ITO 33’s innovative solutions and its rigorous approach have already convinced a long list of sophisticated clients in Europe and are finding the same enthusiastic audience in North America among hedge fund managers and sophisticated arbitrage houses.

Powerllel’s easy to use software solution breaks through the barriers of parallel computing to give users the ability to speed up computations and get more accurate results on the application level. Parallel processing is a method of breaking down specific computationally intensive applications or models to run on multiple PCs and/or servers. Powerllel is enabling faster access to critical information by speeding up computational analysis that takes anywhere from many minutes to several hours to occur in real time, without compromising accuracy. Examples of this powerful technology include accelerating securities and portfolio pricing, hedging, risk management, and end-of-day processing. Powerllel’s revolutionary software is empowering more aggressive and accurate real-time pricing, hedging and volatility grid calculations by trading operations and market makers.

About Powerllel
Powerllel provides the most advanced parallel computing software solution that breaks through the traditional barriers to parallel computing. For the first time, Powerllel’s solution gives enterprises critical supercomputing power requiring minimal resources based on an easy to adapt, manage and deploy software solution. Powerllel is based in New York City with an office in the UK.

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