Aarburg (ots) - Franke bringt die Premium-Technologie seiner Profi-Maschinen in eine neue Klasse. Die neue ...
Société Générale Realizes Enhanced Performance Running Algo Suite on Linux
Toronto, Canada (ots/PRNewswire) - Algorithmics Incorporated, a recognized leader in enterprise risk management, today announced that Société Générale, one of the largest financial services groups in the euro-zone, has achieved significant performance benefits through its Linux-based Algo Credit solution.
"The benefits of running our Algorithmics solution on Linux are tremendous. In addition to the improved performance and scalability, we have experienced reduced hardware, services and implementation costs," says Pierre Gaye, deputy head of capital markets in the risk division at Société Générale.
A long-term client of Algorithmics using Algo Credit on the Mark-to- Future framework, Société Générale uses Algo Credit's ability to forecast the mark-to-market values of deals in the portfolio at a given time horizon in the future. From these distributions, the bank can calculate a variety of risk indicators, such as potential future exposures for different confidence levels. Société Générale is now simulating approximately half of the financial instruments within its credit exposure book on a Linux-based architecture, significantly enhancing the performance of the bank's Algo Credit implementation. Running half of the financial instruments on a grid of HP Proliant DL360 G4s with dual Intel Xeon 3.6GHz processors, Société Générale has achieved a 33% performance increase on their entire portfolio. The final performance gain will be even higher when Société Générale moves the remaining credit exposure simulations to Linux over the coming months. The time savings will allow Société Générale to calculate more accurate credit exposures within the overnight batch window by allowing the bank to add more scenarios to the simulation.
Algo Suite on Linux makes it possible for simulations to be spread across multiple CPUs on multiple machines. After the implementation is complete, the solution scales easily and allows clients to add additional computing resources without further implementation or configuration work required, thereby reducing the total cost of ownership.
"Société Générale's Linux-ported Algo Credit solution is an important part of its best practice approach to enterprise risk management, delivering the risk information the bank needs to proactively advance its business," said Michael Zerbs, Algorithmics' President and Chief Operating Officer. "The bank's success is indicative of the enhancements in performance, scalability, reliability and ownership cost reduction in total hardware costs delivered by the platform."
Founded in 1989, Algorithmics is a recognized leader in enterprise risk management. Following its acquisition by the Fitch Group in January 2005, Algorithmics is the world's leading provider of enterprise risk management solutions and services that enable financial institutions to effectively understand and manage their financial risk. Algorithmics has over 200 clients, including more than 60 of the 100 largest financial institutions in the world. Algorithmics was recently recognized as the dominant enterprise risk solution provider in market, credit and operational risk in Risk Magazine's 2004 Technology Rankings.
About Fitch Group
Fitch Group is the parent company of Fitch Ratings, a leading global rating agency committed to providing the world's credit markets with accurate, timely and prospective credit opinions. Fitch Ratings is dual- headquartered in New York and London, operating offices and joint ventures in more than 50 locations and covering entities in more than 80 countries. Fitch Group is a wholly owned subsidiary of Fimalac, S.A., an international business support services group listed and headquartered in Paris, France.
ALGO, ALGORITHMICS, AI & design, MARK-TO-FUTURE, ALGO CAPITAL, ALGO COLLATERAL, ALGO CREDIT, ALGO MARKET, ALGO OPVANTAGE, ALGO RISK, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.
ots Originaltext: Algorithmics Inc.
Im Internet recherchierbar: http://www.presseportal.ch