ACADEMIA

Solutions allow financial institutions to achieve cost efficiencies and boost performance -- NET2S, a leading international consultancy specializing in capital markets technology and US-based ASPEED, the global leader in application acceleration, today announced a partnership designed to bring grid computing solutions to financial institutions in Europe. By leveraging ASPEED’s ACCELLERANT software, NET2S will be able to offer its European customers technology to optimize business-critical applications and create efficiencies in-house. Financial institutions are facing increasing demands to drive down costs while strains are put on existing infrastructures to meet the growing globalization and sophisticated trading techniques of the market. ASPEED’s ACCELLERANT is used by financial services, pharmaceutical and other organizations that rely on complex applications, to significantly reduce their elapsed times, handle exponentially higher volumes and deliver more fine-grained analysis for higher precision, by leveraging new multi-CPU, cluster and grid configurations. “Business demands are driving many of our clients to capitalize on sophisticated techniques such as algorithmic trading, real-time pricing and Monte-Carlo simulations; IT infrastructures must be able to support this activity,” said Paw Andersen, operations director of NET2S. “We are delighted to be working with ASPEED, to bring their solutions to clients in Europe, and assist buy- and sell-side firms in optimizing their current systems through grid computing.” “The financial sector is continually searching for powerful solutions to maximize existing systems in a bid to remain competitive. By applying ASPEED's grid computing software, we help companies distribute processes across available global system resources on demand,” said Greg Ammirati, vice-president, worldwide field operations for ASPEED. “Our partnership with NET2S promises to eliminate the application barriers and help European customers achieve cost-savings and boost performance without re-writing existing complex applications.” ASPEED Software Corporation is a privately held, venture funded software company based in the heart of New York City with development centers in New York and London. ASPEED’s value proposition is to enable clients with computationally intensive applications to significantly reduce response time and reduce run times. Using ASPEED’s ACCELLERANT software enables its users to quickly adapt their existing application to use less expensive and newer hardware technologies in multi-processor, cluster and grid configurations. ACCELLERANT’s algorithm-aware API enables the distribution of applications thought by many as “undistributable,” improving competitiveness, productivity and accuracy of the analysis and to participate in company cluster and grid activity. For more information, please visit its Web site