LONDON â 19 September 2005 â DataSynapse, Inc., the fastest-growing provider of grid computing solutions for the virtual enterprise, and Reuters (LSE: RTR, Nasdaq: RTRSY), the global information company, today announced a software collaboration agreement. DataSynapseâs GridServerÂ® infrastructure software will be available with all releases of Reuters Kondor Global Risk, an enterprise-wide tool for managing limits and credit exposures, including functionality for Basel II compliance.
The DataSynapse GridServer and Reuters Kondor Global Risk offering enables financial services organisations to speed transactions like Monte Carlo and Potential Future Exposure calculations to make better business decisions, faster. Virtualising application services and distributing them across shared system resources, the integrated solution improves application performance, scalability and reliability in enterprise risk management settings without additional hardware, development or support costs.
Additionally, Reuters offers a DataSynapse-compliant version of Kondor+, Reuters core front to back office deal capturing, position keeping and pricing system that enables customers to manage deals and positions across all instruments in real-time.
"The addition of DataSynapse GridServer enhances Reuters Kondor Global Risk and Kondor+, providing users with advanced distributed computing capability out of the box," said John Burton, head of marketing and communications, Reuters Risk Practice. "The joint solutions are ideally suited to meet the needs of the industry, helping clients expand business performance while reducing computing costs."
Under the terms of the agreement, DataSynapse and Reuters will collaborate on an ongoing basis to optimise integrated offerings. In addition, sales and services teams from both companies will promote, sell, deploy and support the joint solutions.
"Leveraging virtualisation technology to optimise system performance, the DataSynapse and Reuters solutions address the banking industryâs need for increased resource capacity and speed," said Jamie Bernardin, chief technology officer of DataSynapse. "DataSynapse is thrilled to be a part of Reutersâ Kondor Global Risk and Kondor+ offerings, software used by 14,000 users across 60 countries."