23 September 2017
Find out more

JPMorgan signs Grid technology deal with Platform Computing

06 September 2002  |  6348 views  |  0 JPMorgan

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."

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

JPMorgan Chase revises BoNY outsourcing agreement

JPMorgan Chase revises BoNY outsourcing agreement

09 August 2002  |  5980 views  |  0 comments
JPMorgan initiates same-day settlement  for euro CP

JPMorgan initiates same-day settlement for euro CP

09 August 2002  |  5746 views  |  0 comments
JPMorgan joins TradeWeb CP platform

JPMorgan joins TradeWeb CP platform

08 August 2002  |  5631 views  |  0 comments
Invesco Web-enables broker review process with JPMorgan TradeStarr

Invesco Web-enables broker review process with JPMorgan TradeStarr

16 July 2002  |  3565 views  |  0 comments

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.capgemini.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13023 views comments | 27 tweets | 42 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
8985 views comments | 13 tweets | 27 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8438 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8017 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
7791 views comments | 31 tweets | 45 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job