JPMorgan signs Grid technology deal with Platform Computing
06 September 2002 | 6375 views | 0
Wall Street investment bank JPMorgan is to use Grid technology from Platform Computing to redistribute idle computing power for number-crunching tasks in core front and middle office functions.
Platform was selected following a formal RFP process that included eight leading software and infrastructure vendors.
The JPMorgan deal was announced as Platform demonstrated the beta version of its Symphony solution at a Wall Street technology show. The system is designed to process compute and time-sensitive applications, such as trading, pricing, risk analysis, profit and loss (P&L) reporting and trade settlement, in real time, across an Enterprise Grid computing infrastructure. The technology connects heterogeneous computing environments through a shared service layer which can be leveraged across the enterprise.
The ten-year old New York-based vendor numbers Deutsche Bank, Mackenzie Financial, Royal Bank Capital Markets, TD Canada Trust and Fidelity Investments among its customers.
"With increasing business and market pressures, financial services institutions are looking to Grids as a way to streamline analytical computing processes and to share and leverage globally dispersed assets to sharpen their competitive advantage," says Robert Batchelder, research director at Gartner. "As global enterprises, it is essential that they create Grid fabrics that weave together their entire analytical computing infrastructure, from internationally dispersed clusters to individual desktop machines."