SYSTEMS

Summit Systems and Platform Computing today announced a partnership to deliver an integrated grid computing solution which will provide high performance grid infrastructure for capital markets and risk management applications. The integrated solution will enable Summit's Treasury and Capital Markets' customers to benefit from a highly scaleable, enterprise grid solution to improve the performance of pricing, portfolio valuation, and scenario analysis operations. Customers will also be better able to deal with large portfolios of complex products such as interest rate equity or credit derivatives and achieve a split second time to result. Platform Symphony enables Summit's valuation, market, and credit risk analytics to be distributed across a grid of commodity CPU's managed by Platform Symphony. Tasks such as end-of-day processing and reporting can be accelerated, reducing the time to result. Longer running processes, such as risk scenario analysis reports can also be accelerated by leveraging the improved management and workload distribution capabilities of grid computing, as implemented within Platform Symphony. "For intra-day tasks, Platform and Summit have instrumented pricing, portfolio valuation and hedging routines to dramatically reduce the time to result, even for portfolios that contain complex multi-level derivative instruments," said Robert Boettcher, Vice President, Financial Services, Platform Computing. "When combined with Summit's application suite, Platform Symphony allows an analysis process to be deployed in a manageable way over low-cost commodity hardware. This allows traders and risk managers who use Summit to run highly complex market and credit risk models with much improved time to result," said Denny Dewnarain, Technical Director, Summit, Continental Europe operations.