GemFire Enterprise from GemStone Systems Selected by Bear Stearns As a Key Component of Its Data Infrastructure

BEAVERTON, OREGON AND NEW YORK, MARCH 8, 2005 – GemStone Systems, a leading data services infrastructure software company, today announced that Bear Stearns (NYSE: BSC), a leading global investment banking, securities trading and brokerage firm, has selected GemFire Enterprise for managing in-memory data across its enterprise applications. GemFire is a strategic component of the Bear Stearns non-stop enterprise architecture that will help Bear Stearns achieve a multi-fold increase in trading speeds and volumes, reduce risk computation times, and also have a better picture of risk, pricing and portfolio valuations across multiple asset categories. In the initial phase, GemFire will be deployed as a part of the Program Trading as well as the Global Clearing and Settlement Risk Analytics architectures at Bear Stearns.

By deploying GemFire as an integral part of its infrastructure, Bear Stearns can improve the management of data in multiple formats across several operating environments while further reducing data latency and data bottlenecks.

Bear Stearns chose GemFire Enterprise after a formal evaluation process that included the consideration of proprietary distributed caching and data management products as well as open standards-based offerings. GemFire’s stability and ability to outperform competitive products made it a compelling choice for Bear Stearns.

"We were looking for data management technology that would complement our architecture strategy on two fronts," said Peter Cherasia, chief information officer of Bear Stearns. "First, we needed high performance, scalability, and aggregate reliability to match our trading and risk computing cluster. Second, we wanted to efficiently leverage our investment in high performance object-oriented software. The GemFire product exceeded our performance requirements and enabled us to integrate applications without single points of failure or burdensome data transformation."

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