AUSTIN, Texas, October 14, 2003 -- SciComp Inc., a leading provider of
scientific computing solutions for the financial markets, today announced a
strategic alliance with TAF Corporation. TAF Corporation is a leading provider of high performance distributed technology. SciComp's solutions for rapidly developing and implementing derivatives pricing models will now include TAF's PARAGON-enabled product to rapidly accelerate the speed of calculations.
"TAF's distributed computing technology will allow our SciFinance-generated
pricing codes to automatically distribute workload computation among multiple hardware resources with minimum overhead and maximum turnaround speed," said Elaine Kant, CEO of SciComp Inc.
The initial joint offerings, currently available, further reinforce the SciComp paradigm of providing high ROI, high performance solutions, while reducing programming, development and integration complexity.
SciComp's SciFinance decreases the turnaround time for derivatives model
development and allows financial analysts to easily explore and refine new
algorithms and complex options. SciFinance automatically generates complex
derivatives pricing codes that often run faster and are more accurate than
traditional development methods. The unique feature of SciFinance is that users get custom, flexible source code for their models rather than a black box.
"With constantly evolving global markets, firms are demanding software
solutions that reduce cost, deployment cycles, and risk exposure," said
Alexander Mintz, CEO of TAF Corporation. Our distributed software solutions
address these needs, leveraging the power of high-speed multi-processor
bladed servers for accelerated financial model calculation. The integration of PARAGON with the SciFinance suite of products gives customers the power to accelerate derivatives development and keep pace with today's financial markets."
PARAGON is designed for intra-day trading, reporting and portfolio evaluation. An open, distributed architecture makes it easy to integrate legacy systems or newly developed code. From real-time to batch processing, PARAGON enabled calculations offer dramatic speed improvements. TAF's patent pending technology was developed to accelerate calculations in parallel on large scale distributed virtualized or cluster environments and offers throughput of 3000 messages/sec on bladed servers with Linux. PARAGON facilitates real-time Quality of Service (QoS) by accounting for dynamic feedback received from PARAGON Compute Servers. Those that are loaded heavier get fewer requests. Missing replies (network delays, Compute Server delays/failure, etc) are resubmitted for calculation. Duplicate replies are discarded. PARAGON guarantees calculation of the whole set of supplied data. PARAGON Real time Quality of Service (QoS) in distributed
calculation offers performance characteristics formerly reserved for embedded applications on dedicated platforms.