Innovative Hadoop data platform enables Pico to grow and develop new financial data service offerings for clients in the global capital markets community
MapR Technologies, Inc., provider of the top-ranked distribution for Apache Hadoop that integrates web-scale enterprise storage and real-time database capabilities, today announced that Pico, a provider of multi-asset electronic trading technologies, is using the MapR Distribution including Hadoop to extend its analytical data service offerings for customers in the global capital markets community. Leveraging a growing amount of both traditional and non-traditional types of financial data, Pico will rely on the scale, speed and ease of use from the MapR platform to offer innovative new technology solutions and provide real-time data analysis to their clients.
Increasing demand from clients for expanded data analytic capabilities and the growing volumes of data in use were some of the driving factors that led Pico to evaluate the underlying technology. In order to leverage a wide range of historic and current data, including market, transactional and informational sources, Pico needed a scalable and highly available data platform that could lower storage costs and also support its existing environment.
“Pico is all about innovation and we believe that the MapR dedication to high availability, disaster recovery, security and full data protection fits perfectly with our requirements to serve a global market,” said Paul Cassell, chief information officer at Pico. “MapR will play a key role in our data center and IT operations as we expand our services with greater scale and performance and provide our clients with many customized Hadoop offerings.”
Using MapR, Pico can analyze massive amounts and types of data in real time; accelerate the speed of analysis, while increasing data volume; and improve risk assessment by building sophisticated machine learning models. Due to the innovative architecture at the core of the MapR data platform, Pico is able to leverage the versatility of plug-and-play compatibility with Hadoop for additional data analysis and application capabilities.
“Pico provides infrastructure, integration management and software solutions to a very diverse financial services client base,” said Jack Norris, chief marketing officer, MapR Technologies. “Their use of the MapR Distribution in this demanding environment is a tremendous endorsement of our enterprise-grade platform. We look forward to working with Pico as they continue to grow and expand.”
Please be sure to attend the Big Data Everywhere conference in New York on Wednesday, November 4th at 11:45am EST. Pico’s CIO, Paul Cassell, and Director of Corporate Development, Dan Bartucci, will present, “The Transformational Influence of Big Data in the Global Capital Markets.”