DataSynapse will partner with Sophis to bundle an interface to its flagship GridServer software with Sophis RISQUE, a solution that enables portfolio and risk management across a broad range of OTC and listed market instruments and is used globally by many of the powerhouses in derivatives and structured products trading. Sophis clients will benefit from the ability to run the market-leading RISQUE solution within a highly scalable environment that optimises available system and data resources across the enterprise. GridServer will guarantee workload execution and respond to changing business requirements in real time, satisfying the volatile and unpredictable demand for computer processing power.
"We selected DataSynapse due to its strong domain expertise in the financial services industry," said Herve Viciguerra, CEO of Sophis. "DataSynapse has proved itself successful in joint client deployments and through the innovative use of grid computing we will bring our customers a robust and seamless solution that dramatically improves time-to-results, application resiliency and resource utilisation."
Under the agreement, the two companies will jointly develop and deploy the solution and will deliver formalised sales support services. Customers will gain from improved scaling, performance, reliability and manageability of front-to-back-office trading through the optimised out-of-the-box box joint solution.
Rick Moran, DataSynapse SVP of business development, said, "As we continue to build our network of worldwide partners, our strategy has been simple; to work with the very best firms in the industry. Our partnership with Sophis will enable us to identify new client opportunities and extend the adoption of grid to its customer base. Through GridServer, Sophis customers can now easily support an increase in trading volume without having to incur additional development or support costs."
DataSynapse continues to expand its client base across the Americas and Europe, affirming its position as the de facto standard in grid computing in the financial services sector. Earlier this month, DataSynapse user BNP Paribas won the âBest Use of IT in Wholesale and Investment Bankingâ category for its DataSynapse GridServer implementation in the 2005 Banking Technology Awards.