LONDON - 15 June 2005 â Building on its leadership position in the financial services industry, DataSynapse, Inc., the fastest-growing provider of grid computing software for commercial applications, and capital markets software leader Summit Systems have partnered to scale front-to-back transaction processing support for financial institutions. Combining the strength of DataSynapse's infrastructure software, GridServerÂ®, with Summit Systems' trading, operations and risk management platform, the integrated solution improves application performance, resilience and time to market, driving cost savings and revenue generating opportunities for financial services firms.
Financial institutions worldwide rely on Summit Systems' multi-asset class treasury and capital markets solution to handle all aspects of trading, risk management and operations. IXIS CIB, a part of Group Caisses d'Epargne, has been a Summit Systems customer for many years for front, middle and back-office initiatives within the Treasury, Fixed Income and Derivatives divisions. Designed to meet the needs of companies with intensive data and scalability constraints, DataSynapse's GridServer now enables Summit Systems' customers in the financial services sector like IXIS CIB, to optimise application performance by distributing workloads over shared system resources.
"The interoperability between Summit Systems and DataSynapse is suited to address IXIS CIB' demand-driven business needs," said Laurent Fernandez, IT manager for IXIS CIB. "Improving the speed and performance of our applications in a highly scalable IT infrastructure, we are able to quickly and effectively respond to changing business requirements while satisfying the unpredictable demand for computing power."
"High margin asset classes are becoming more and more popular with banks and the increase in volume puts a strain on existing IT infrastructures," said Denny Dewnarain, technical director, Summit Systems, Continental Europe Operations. "In partnership with DataSynapse we enable our clients to handle even larger volumes of credit derivatives, structured products, pricing and valuation models - distributing proprietary valuation and risk management analytics calculations through GridServer. DataSynapse's GridServer is a critical addition to Summit Systems' product offering."
Integrated with DataSynapse's GridServer, customers using Summit Systems' software are able to spread complex calculations across their existing hardware to dramatically speed results. The combined solution also offers guaranteed execution of risk reporting to help improve service-level agreements.
"Summit Systems' capital markets system is a critical component of the global derivatives trading, risk management and operational needs at top financial institutions across the globe," said Peter Lee, chief executive officer of DataSynapse. "Combining the computing capability of GridServer with Summit Systems' trading platform is a natural fit, creating an integrated solution that transforms mission-critical applications into cost-savings and revenue-generating opportunities."