DataSynapse, a global provider of application virtualisation software, today announced that it has partnered with SunGard's Adaptiv business unit, a leading provider of credit and market risk management and operations solutions for financial services institutions.
DataSynapse will bundle its flagship GridServerÂ® software within SunGard's application service provider (ASP) delivery of Adaptiv Analytics, a solution for rapid computation of complex risk calculations launched in June this year. By running the industry-leading Adaptiv Analytics software for market and credit risk on a grid of servers managed by DataSynapse GridServer, risk executives can benefit from the ability to run risk calculations quickly, helping cut execution times from days to minutes.
"The timely incorporation of new trade types into risk systems is a concern for today's senior risk managers," said David Rowe, executive vice president for risk management at SunGard's Adaptiv business unit. "The complexity of innovative derivatives coming to market is often a bottleneck to risk systems, preventing a bank from maximising new opportunities. DataSynapse GridServer complements the native parallelisation of the Adaptiv Analytics application to help deliver the kind of response times expected by leading financial institutions."
As volumes and complexity of traded products increase, existing IT solutions within financial services institutions are unable to perform risk calculations in the required timeframes. This means that financial services institutions may be running their businesses on inaccurate and incomplete risk information. Risk management staff and trading managers are demanding faster access to risk results to allow this information to be reflected in pricing decisions.Â Leading edge institutions are moving from end-of-day reporting to the provision of intra-day and even real-time results. GridServer virtualises application services dynamically across shared system resources to help improve productivity and performance levels across the enterprise.
"There is a sea-change in the financial services industry to run complex risk calculations more quickly and accurately to meet critical business timing requirements, while moving from end-of-day reporting to the provision of intra-day results," said Rick Moran, DataSynapse senior vice president of business development. "GridServer is helping institutions to reach this goal. Our partnership with SunGard is a step forward in the expanding relationship between the two companies and we look forward to more success as DataSynapse works with SunGard's Common Services Architecture programme to deliver mutual value to joint customers."
DataSynapse continues to extend its worldwide partnerships by offering out-of-the-box integration with a variety of leading third-party applications and hardware platforms.