Maxeler's approach to supercomputing will enable J.P. Morgan to assess tens of thousands of possible market scenarios, constantly examining the time path and structure of the associated risk. This means that complex scenarios can now be calculated in a few minutes rather than hours.
In recognition of its innovative deployment of Maxelerâs technology, J.P. Morgan has just been awarded the âMost Cutting Edge IT Initiativeâ at the prestigious American Financial Technology Awards (AFTA) (5 December 2011).
Peter Cherasia, Head of Markets Strategies at J.P. Morgan, commented: "With the new Maxeler technology, J.P. Morganâs trading businesses can now compute orders of magnitude more quickly, making it possible to improve our understanding and control of the profile of our complex trading risk."
As part of the deal, J.P. Morgan has ordered a second powerful supercomputer for use within other parts of the fixed income business at the bank. This new dataflow supercomputer will be equivalent to over 12,000 conventional x86 cores, providing 128 Teraflops of performance.
âThis new level of performance comes at a fraction of the cost, power and space compared to using conventional computersâ, said Gerald Aigner, a senior advisor at Maxeler Technologies who previously had responsibility for datacenters at Google. âMaxeler dataflow computers bring a novel data-centric computing technology to the forefront of high performance computing. Where computation really matters, the Maxeler approach has the potential to make a significant difference.â
In addition to compute performance, total cost of ownership is becoming a key efficiency indicator for data-center operations. As the new Maxeler machine at J.P. Morgan is 25 times smaller than equivalent x86 machines, this translates to 25 times less power consumption and 25 times less space requirement in the data-center per computation.
"We are delighted to see our early research efforts at Stanford in the â90s reach a commercial deployment on an industrial scale," said Michael J Flynn, Maxeler's Chairman and Professor at Stanford University, and recipient in 1992 of the highest award in Computer Architecture, the IEEE/ACM Eckert-Mauchley Award.
"Following our strategic investment in Maxeler Technologies earlier this year, we are excited to see further direct impact on our compute capabilities in less than six months," added Cherasia.