SunGard, Intel and DataSynapse Corporations today announced that SunGard's ZaiNet, an energy trading and risk management solution, now offers a grid-enabled version of its Monte Carlo Value at Risk (MC VaR) and Earnings at Risk (EaR) analytics packages utilizing the DataSynapse GridServer technology.
ZaiNet is able to make critical decision support VaR information available during the day by taking advantage of grid-technology that transforms the advanced analytics reporting of various risks from overnight batch runs into shorter runs that complete in a fraction of the time.
SunGard's grid-enabled ZaiNet MC VaR and EaR, in conjunction with Data Synapse’s GridServer Virtual Enterprise Edition, and Intel's 2.8 GHz Xeon CPU help energy companies achieve faster turn-around on reporting of portfolio risk by effectively allocating compute resources across a network to help improve IT resource utilization. The GridServer transparently manages the spreading of the ZaiNet calculations across multiple processors for the customer. As a result, the combined SunGard and Data Synapse solution helps provide improved resiliency, accuracy and speed for the complex analysis and reporting upon which energy companies have come to rely for mission-critical business decisions.
"The combined DataSynapse and SunGard solution helps energy firms benefit from improved risk analytics, while minimizing the cost and complexity of their IT infrastructure," said Jamie Bernardin, chief technology officer of DataSynapse. "Through virtualization, this joint solution addresses the energy industry’s need for increased application performance and time-to-results."
"The ongoing success of ZaiNet is a result of continuous efforts to help customers gain efficiencies and more effectively manage their risk. We are pleased to work with DataSynapse to help provide the enhanced risk capabilities our customers need for mission-critical applications," said Matt Mandalinci, president of SunGard's energy solutions business unit.
Separately, SunGard today announced that BC Hydro's wholesale power marketing subsidiary, Powerex Corp., is the first customer to have successfully implemented SunGard's grid-enabled ZaiNet Monte Carlo Value at Risk (MC VaR), a solution that transforms overnight risk reporting runs into intraday reports that help facilitate more responsive decision making.
SunGard's ZaiNet is an energy trading and risk management solution that utilizes the DataSynapse GridServer Enterprise Server Edition and Intel's 2.8 GHz Xeon CPU to deliver the results of complex VaR calculations in less than one-tenth the time required without the grid.
To address the decision-making challenges of overnight reporting, Powerex sought a solution that would reduce its analytic run-times by five times or more across a variety of reports. By implementing ZaiNet MC VaR on DataSynapse GridServer, Powerex realized performance gains of 5 – 40 times. For example, one report that took six hours to run in the previous environment ran in only nine minutes.
"Grid enablement opens the door to realizing additional value from the ZaiNet integrated market risk systems at Powerex through faster troubleshooting, what-if analysis, and other capital, credit and market risk allocations by book, counterparty or trade type," said John Wilkinson, market risk manager, Powerex Corp.
"The Powerex results demonstrate the power of virtualization technology leveraged by the combined DataSynapse and SunGard solution to help improve the compute performance of energy risk analytics," said Jamie Bernardin, chief technology officer of DataSynapse. "We are pleased to bring to Powerex the performance and reliability that our blue chip customers in financial services and telecom enjoy."
"SunGard's grid-enabled analytics provide Powerex the tools for real-time decision making and we're pleased by the reduction in compute time it achieved," said Matt Mandalinci, president of SunGard's energy solutions business unit. "It is now possible for Powerex to run its VaR reports intraday, making real-time decision making a reality. ZaiNet MC VaR on GridServer will help change how power marketers do business in the time-critical energy market."