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October 06, 2008
Product integration allows financial services institutions to respond faster to industry demands and market volatility
TORONTO, Ontario, and BRUSSELS, Belgium, Oct. 6 -- Platform Computing, the global leader in high performance computing (HPC) management software and Fermat, a leading provider of risk and performance management products to the Financial Services Industry, have announced a partnership to integrate all Fermat products with Platform Symphony. Platform Symphony is the software solution that delivers application performance allowing Financial Services organizations to respond faster to industry demands and market volatility. Fermat's products are focused on assisting Financial Services organizations reduce the risk on day-to-day business decisions. The synergies of this partnership will enhance the return on investment for the firms that use both companies' products.
All existing and new Fermat products, whose calculations require high volume and multi-scenario simulations, will be integrated with Platform Symphony. This includes the enterprise wide usage of existing modules of Fermat ECAP, ALM (for Earnings at Risk), Market Risk, Value-at-Risk (VaR) and Expected Position Exposure (EPE). In addition, insurance companies will benefit from the application of HPC within Fermat's Solvency II compliance product.
"Companies in the financial services industry are continuously striving to remain on the competitive edge. Many institutions see grid computing as a decisive technology," said Thierry Vercueil, CTO at Fermat. "Since Fermat's products are used enterprise-wide, compatibility with Platform Symphony will help customers achieve results more quickly by offering tremendous calculation efficiency to risk and performance management products. Our goal is to deliver additional value to our joint customers. It is only natural to collaborate with key technology providers to maintain the competitiveness of our products as their usage intensifies in depth and scope."
"The integration of our products will increase efficiency, improve resource utilization and reduces costs for our joint clients," says Jim Mancuso, general manager of financial services at Platform Computing. "Platform Symphony is the ideal product to support the demanding requirements of Fermat's applications for key risk management processes such as client behavior simulations, Value-at-Risk (VAR) calculation and stochastic modeling. Taking complex problems and applications and increasing performance dramatically is the added value Platform Computing offers."
About Platform Computing
Platform Computing is a pioneer and the global leader in high performance computing (HPC) management software. The company delivers integrated software solutions that enable organizations to improve time-to-results and reduce computing costs. Many of the world's largest companies rely on Platform to accelerate compute or data intensive applications and manage cluster and grid systems. Platform has over 2,000 global customers and strategic relationships with Dell, HP, IBM, Intel, Microsoft, Red Hat and SAS, along with the industry's broadest support for HPC applications. Building on 16 years of market leadership, Platform continues to define the HPC market. Visit www.platform.com.
Fermat is a leading provider of integrated risk and performance management software for the global financial services industry. Its award winning products, which address enterprise-wide internal and regulatory requirements, help financial institutions to reduce risk and maximize return in their day to day business decisions. Fermat has built recognized market leadership around its focus on credit and market risk (Basel II, Economic Capital, Limits monitoring), Balance Sheet Management/ALM and Profitability Measurement. Fermat was selected as Software Product of The Year 2008 by Risk Magazine and has been voted by readers of Risk Magazine as the #1 Basel II vendor for two consecutive years. Fermat has a strong international focus. Teams of 30 different nationalities are servicing over 100 references sites in 29 countries throughout Europe, Africa, the Middle East, North America, Latin America and Asia Pacific. For more information, visit www.fermat.eu.
Source: Platform Computing; Fermat
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