05 May 2016
Visit wolterskluwer.com

Platform Computing signs BNP Paribas Arbitrage to Grid package

17 October 2005  |  12707 views  |  0 BNPParibas

BNP Paribas Arbitrage is implementing Grid technology from Platform Computing to harness the spare computing capacity from 2000 desktop PCs for running calculations at its equity and derivatives division.

Platform says the bank will use its Symphony technology to re-use the unutilised capacity of 2000 desktops PC. The system will also be used with 500 dedicated servers to further boost BNP Paribas' processing capacity.

The vendor says the bank's existing IT model wasn't able to support the growing market demand for the bank's risk, pricing and value at risk (VAR) calculations. Platform says previouly only 10% of the bank's desktop capacity was being used, but its Symphony product can increase resource utilisation by 80%, without the need to invest in any additional hardware.

Platform's system is currently being deployed across the 2000 desktops which continue to be used to process normal work during the day, but are used to run equity calculations at night. Platforms says the system may eventually be used to extend the capacity of an additional 5000+ desktop PCs in the future.

Bernard Gavgani, COO at BNP Paribas, comments: "Working with Platform to adopt an enterprise grid computing model is fundamental to our growth strategy for the future. Already with Platform Symphony we will be able to maximise the return from our existing IT investments, reducing further spending while simplifying the management of our infrastructure and systems."

BNP Paribas said last month that it had deployed DataSynapse GridServer at its London derivatives operations, and plans to roll the technology out to additional sites in New York and Tokyo, to improve performance of its collateralised debt obligation (CDO) business.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BNP Paribas extends derivatives grid

BNP Paribas extends derivatives grid

05 September 2005  |  5643 views  |  0 comments
Sal. Oppenheim Grid-enables equity derivatives division with Platform

Sal. Oppenheim Grid-enables equity derivatives division with Platform

23 November 2004  |  4434 views  |  0 comments
BNP Paribas implements Sun servers to power risk Grid

BNP Paribas implements Sun servers to power risk Grid

30 September 2004  |  4743 views  |  0 comments
Strong start for Grid computing in Europe - Oracle

Strong start for Grid computing in Europe - Oracle

07 September 2004  |  4710 views  |  0 comments
Platform puts Microsoft Excel on the Grid

Platform puts Microsoft Excel on the Grid

12 November 2003  |  3648 views  |  0 comments
Platform Grid-enables SocGen, LBBW and Capital One

Platform Grid-enables SocGen, LBBW and Capital One

09 September 2003  |  8202 views  |  0 comments
JPMorgan signs Grid technology deal with Platform Computing

JPMorgan signs Grid technology deal with Platform Computing

06 September 2002  |  6019 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreFind out more

Who is commenting?

A Finextra member Finextra Member Commented on: Brexit good for UK Fin...
A Finextra member Finextra Member Commented on: Brexit good for UK Fin...
A Finextra member Finextra Member Commented on: What Are Bitcoins Actu...
A Finextra member Finextra Member Commented on: Brexit good for UK Fin...

Top topics

Most viewed Most shared
Yorkshire and Clydesdale Bank launch digital challenger bank BYorkshire and Clydesdale Bank launch digit...
7810 views comments | 26 tweets | 32 linkedin
Turkey launches national payments systemTurkey launches national payments system
7683 views comments | 21 tweets | 25 linkedin
IBM makes blockchain cloud playIBM makes blockchain cloud play
7330 views comments | 25 tweets | 23 linkedin
Finextra Community goes from strength to strengthFinextra Community goes from strength to s...
6094 views comments | 3 tweets | 2 linkedin
ABN Amro's blockchain journeyABN Amro's blockchain journey
5974 views comments | 19 tweets | 29 linkedin

Featured job

£100,000 basic, £180,000 OTE + Benefits
London

Find your next job