Algorithmics Inc.

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."

    About Algorithmics

    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.


ots Originaltext: Algorithmics Inc.
Im Internet recherchierbar:

For further information: Kevin Ellis, Senior Manager Communications,
Algorithmics, +1-(416)-217-4321,,

Weitere Meldungen: Algorithmics Inc.

Das könnte Sie auch interessieren: