Gresham Computing plc, a leading provider of transaction control solutions to international financial institutions, today announced that its reconciliation solution Clareti Transaction Control (CTC) has achieved unprecedented transaction processing times in a series of benchmarking tests conducted with Intel.
These tests included load and match into a database of over 50,000 equity trade transactions per second and were conducted in June 2012 on the Intel Xeon Processor E7 family, at Intel's Computing lab in Reading, United Kingdom.
"These results show how Gresham's CTC is delivering a much needed step change in financial institution reconciliations. This is essential as financial institutions seek to get more done faster. With organisations placing greater emphasis on effective internal control environments, inter-systems matching and reconciliation is becoming a vital component in minimising operational risk. The scalability and performance of CTC responds to market needs and is way beyond the capabilities of traditional Nostro reconciliation-based engines," said Neil Vernon, Development Director, Gresham Computing plc.
CTC was built using the GigaSpaces XAP elastic application platform as an integral part of its infrastructure. XAP is geared for big data, employing an in-memory data grid for tremendous processing speed, 'share-nothing' partitioning for reliability and consistency and event-driven architecture that enables real-time processing of massive event streams and unlimited processing scalability. With CTC, organisations can rapidly replace existing manual and semi-automatic internal controls with automated controls, secure in the knowledge that CTC can easily scale to cope with higher volumes in the case of future growth or consolidation.
In the past institutions might have needed multiple reconciliation systems to handle large volumes of transactions close to real-time. They can now process these through a single instance of CTC, making significant cost and efficiency savings. CTC has the scalability to handle the transaction processing needs of industry consolidators such as OTC central clearing bodies or reconciliation service providers - all of whom have growing demands for volume and need to get things done faster.
Gordon Hughes, Alliances Director Financial Services, Intel, commented, "We are impressed by the results that Gresham's CTC solution achieved in their rigorous performance testing conducted at Intel's fasterLAB. Financial services customers are at the forefront of high performance and scalability demands, and in these tests the Intel® Xeon® Processor E7 family has demonstrated CTC's ability to deliver significant performance and power efficiency in the reconciliation environment. The ability to process 200 million transactions per hour gives customers the certainty they need that as their volumes grow, CTC running on Intel processors can scale to the needs of their enterprise."
These benchmark tests with Intel are the beginning of a long partnership between the two companies giving customers performance and scalability certainty.