Bear Stearns implements Gemstone data management software

Bear Stearns implements Gemstone data management software

US bank Bear Stearns is deloying Oregon-based GemStone Systems' integrated data management technology, GemFire Enterprise, to reduce data latency and performance bottlenecks in its trading operations.

GemFire has initially been deployed as the data backbone for Bear's global clearing and settlement risk analytics group and program trading groups.

GemStone says the technology will enable the US investment bank to improve the transparency and management of data in multiple formats across several operating environments while further reducing data latency and data bottlenecks.

The GemFire software was selected after a formal evaluation process that included proprietary distributed caching and data management products as well as open standards-based offerings.

Commenting on the implementation, Peter Cherasia, chief information officer, Bear Stearns, says: "We needed high performance, scalability, and aggregate reliability to match our trading and risk computing cluster. Second, we wanted to efficiently leverage our investment in high performance object-oriented software. The GemFire product exceeded our performance requirements and enabled us to integrate applications without single points of failure or burdensome data transformation."

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