Scalable service offers immediate high-capacity storage for data-intensive hedge funds
Abacus Group LLC, a leading provider of hosted IT solutions for hedge funds and private equity funds, today unveiled StorageBurstTM, an on-demand service that offers hedge funds a highly available, secure and redundant platform to store large amounts of data off-site. Offering flexible disaster recovery and archiving options, StorageBurst helps funds easily store and back up tick level data to meet regulatory requirements, easily scale to accommodate changing business needs, and reduce storage costs.
The explosion of data over the last several years coupled with dynamic compliance requirements has put excessive stress on many firms’ storage capabilities. Hedge funds today face mounting data storage challenges as they work to back-test large quantitative models and seamlessly manage multiple market data feeds. StorageBurst helps hedge funds manage these “big data” challenges with instant large-capacity storage capabilities that allow funds to add or decrease storage instantly, based on their immediate requirements.
“It’s not uncommon for today’s hedge funds to deal with terabytes of data, yet many simply don’t have the infrastructure or capital to properly store, back up and monitor it,” said Chris Grandi, CEO of Abacus. “Many juggle multiple strategies, multiple funds and multiple prime brokers. StorageBurst gives funds with significant yet variable storage requirements, a flexible, fast and cost effective storage solution that can easily grow with their business.”
StorageBurst offers a number of advantages over other storage platforms, including:
• Scalability — Burstable storage capabilities, with flexible storage policies and management processes, as well as the ability to quickly and easily add or remove storage as needed without having to purchase new or upgrade existing storage solutions
• Efficiency — Immediate access to a highly redundant and scalable enterprise-level serial ATA (SATA) or serial attached SCSI (SAS) storage architecture with access to virtualized or physical servers, with a tiered pricing model and no long-term contracts
• Convenience — An experienced team that provides 24x7 help desk and storage management and monitoring, and flexible back-up scheduling
• Security — An SSAE 16-certified provider, Abacus’ StorageBurst offers data segmentation across different types of storage, as well as flexible disaster recovery and archiving options, with tier-3 data centers in New York, California and Philadelphia