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DataSynapse and QuIC Financial Technologies to Offer Joint Best-of-Breed Solution for Complex Risk Management and Financial Analytics Applications Leading Financial Services Companies to Benefit from Advanced Capabilities for Computationally Intensive Portfolio Calculations and Simulations New York, NY and Vancouver, BC, February, 2006 - DataSynapse, Inc., the global provider of virtual application infrastructure software, and QuIC Financial Technologies Inc., a leading innovator in enterprise-wide risk management and financial analytics solutions, today announced a collaborative partnership integrating DataSynapse GridServer® with the QuIC Product Suite. The combined offering brings together the benefits of a multi-dimensional calculation engine integrated with a highly scalable IT infrastructure to leading financial services firms looking to speed up complex portfolio pricing, analytics and simulation-based applications. The integrated solution enables customers to seamlessly virtualize QuIC Product Suite applications, maximizing resource availability for trading and risk calculations, even during peaks in compute demand. It allows a substantial increase in the number of calculations processed, while compute response times are dramatically reduced – key benefits for an industry where billions of dollars are at stake daily. “DataSynapse is a proven leader in virtual application infrastructure software especially among financial services companies, which most value the QuIC Product Suite,” said Justin Forrest, vice president of business development at QuIC. “This partnership will allow us to continue to offer our customers the unparalleled benefit, performance and ROI that is associated with our solutions.” The joint solution is targeted at front and middle office applications, where GridServer’s dynamic brokering and distribution capabilities will adaptively provision workloads. This enables the QuIC powerful vector engine to increase dimensionality of portfolios and simulation parameters, resulting in higher accuracy and response times. The combined offering has a direct impact on an organization’s ability to increase profitability and measure performance whether being applied to model complexity, trading instrument structure or accuracy of portfolio simulation. “Out-of-the box integration with QuIC can help clients to drive business goals and generate revenue faster,” said Peter Lee, CEO of DataSynapse. “We strive to continue providing our customers with integrated solutions that increase return and improve performance.” About QuIC QuIC is a global solutions provider for pricing, risk management and financial analytics. The QuIC Engine(TM) provides speed, accuracy and flexibility for pricing and risk calculations regardless of volume or complexity. Based on component technology, QuIC delivers scalable, dynamically extensible and user-customizable solutions, by creating a seamless calculation fabric available to multiple recipients throughout the enterprise. QuIC Product Suite easily integrates with in-house, partner and third-party applications & systems and operates in diverse environments, from a single laptop to a large distributed grid. Applications include data & model calibration, real-time pricing of complex derivatives and high-volume portfolio simulation and analytics for market & credit risk, all delivered by user defined sophisticated valuation and simulation methods. For more information, please visit www.quic.com. For press information contact: QuIC Europe: Andy Sephton Write Image, Ltd. 44 (0) 20 7959 5492 Andy.sephton@write-image.co.uk QuIC US/Canada: Derek Shorkey MacLaren McCann +1 604 601 8579 press@quic.com « Back to 2006 News |
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