Netezza Corporation (NYSE: NZ), the global leader in data warehouse and analytic appliances, today announced that IntercontinentalExchange (NYSE: ICE) has selected Netezza to meet their business intelligence needs.
Atlanta-based ICE recognized the analytics offered through the Netezza platform provided the best database solution over competing providers to help them lower their total cost of ownership through speed and simplicity.
ICE is a leading operator of regulated global futures exchanges, clearing houses and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index markets. The Netezza® TwinFinTM appliance is used by ICE as its next generation data warehouse and provides the foundation for ICE's expanded regulatory compliance and reporting platform.
"TwinFin has allowed us to reduce the complexity of regulatory reporting and processing of exchange data from days down to minutes," said Edwin Marcial, chief technology officer for ICE. "Due to the TwinFin's speed, simplicity and capacity for handling large volumes of data, we are able to provide our compliance departments the fastest, most functionally rich reporting platform in the industry. Our investment in next-generation technology for our compliance teams represents our strong commitment to leading-edge technology and to regulatory compliance."
The Netezza TwinFin data warehouse appliance is built specifically to analyze petabytes of detailed data significantly faster than existing data warehouse options, at a much lower total cost of ownership. It stores, filters and processes petabytes of records within a single unit, analyzing only the relevant information for each query. Netezza has placed the CPU power next to the data, allowing its appliances to speed through processes that would occupy most data warehouse systems for hours, or even days, thereby enabling dramatic increases in productivity across organizations.
"Organizations across various industries, like ICE, are realizing the untapped value of their stored data and how analytics can truly help gain an edge in this competitive environment," said Jim Baum, president and CEO of Netezza. "ICE's use of the Netezza solution to deliver complex reporting across massive amounts of data is a great example of how real-time analytics can deliver a competitive advantage to virtually any industry."