Source: QuIC Financial Technologies
QuIC Financial Technologies Inc., a leading global solutions provider of risk management, pricing and financial analytics solutions, announced that it has partnered with Intel for testing of Intel's new Harpertown quad core 45Nm processors.
QuIC's thorough testing of Intel's new Harpertown processors showed promising double digit performance improvement results in client risk management and simulation trials.
Said Nigel Cairns, QuIC's President and CEO "Industry leaders like QuIC and Intel rely on speed and innovation in our respective industries. For QuIC clients, billions of precise calculations on extremely large portfolios are involved, and time is ultimately money. The double digit percentage improvements QuIC has seen with Intel's Harpertown are clear evidence of Intel's chip technology success in the low latency race."
Intel's UK Director of Financial Services, Nigel Woodward stated that "Our focus on financial services at Intel is all about targeting the functions that require ever increasing levels of performance. Risk management in the front and middle office is key - both for speed and depth in pre trade and the massive datasets across the enterprise. We see QuIC as leaders in this field and hence look to them to ensure that QuIC solutions can take full advantage of the features of IA (Intel Architecture)"
Tony Coppellotti, QuIC's Chief Technology Officer added "We had expected a moderate performance improvement from the new Intel Xeon 5400 - but infact the new Intel chip represents a huge performance leap forward. With the cutting-edge performance of Harpertown, we can deliver breakneck calculation speed and solutions for PFE (Potential Future Exposure) and run times on our client risk management and portfolio calculations."
QuIC's testing also found that in using it's latest generation of 45nm quad-core Intel®Xeon® processors, Intel has managed to deliver ultra-low latency and significant performance increases in algorithmic trading, direct market access, and market data delivery.