|DATASYNAPSE and Pricing Partners To Offer Integrated Grid Technology - Mar 07|
DATASYNAPSE and Pricing Partners To Offer Integrated Grid Technology
Paris, March 9th 2007 - This collaboration unites the computing power of DataSynapse's GridServer® application service virtualisation technology with Pricing Partners' pricing software Price-it®. Jointly, these solutions will reduce the computation time required for valuing large portfolios of complex products in a cost-effective and effortless manner.
Virtualisation technology enables customers to aggregate IT resources, based on business needs, and benefit from:
"Our clients are dependent on complex derivative product valuation applications. In today's fast paced market environment, calculation speeds and high budgets have been long-term issues. By building an API interface into DataSynapse's GridServer® technology, we are taking an essential step toward resolving our client's complex infrastructure issues. Pricing Partners' clients will have the ability to run Price-it® software within a highly scalable environment - greatly optimising the availability of both system and data resources across the enterprise. GridServer® will guarantee workload execution and respond to changing business requirements in a real-time environment. We are finally able to help organizations better manage and satisfy the volatile and unpredictable demand for computer processing power," said, Pricing Partners' CEO, Eric Benhamou.
"Derivatives pricing is a natural fit for application virtualization," said Rick Moran, DataSynapse SVP of business development. "This partnership extends our reach in financial services and enables Price-it® users to accelerate the delivery of increasingly complex products, without incurring additional development and support costs."
About Pricing Partners
Founded by professionals of the trading floor industry, Pricing Partners provides software solutions and consulting services for derivatives independent valuation. Pricing Partners proposes Price-it®, an independent analytic library solution to price complex financial products on different markets (IR, Equity, Credit, Inflation, Hybrids, Commodities and FX). The Pricing Partners solution enables users to comply with accounting standards evolution as well as regulation evolutions in a capital market industry related to independent valuation issues of OTC products. Price-it® principally targets asset-managers, financial departments of large banks, dealing rooms and audit firms. The company is based in Paris.