TORONTO, Jan. 19 /PRNewswire/ -- Platform Computing, the leader in workload and resource management software for clusters, grids and clouds for the financial services industry, announces that Calypso Technology, a leading global provider of integrated trading applications to the capital markets industry, has licensed Platform Symphony to boost the performance of its Galapagos financial optimization software. Platform Symphony is the market leading software solution for improving application performance in financial services organizations, allowing them to respond faster to industry demands and market volatility.
Calypso's Galapagos product uses an optimization technique based on genetic algorithms to generate optimal portfolios. Possible applications include optimal trade and hedge selection, asset allocation, index replication and liability-driven investments. Galapagos is provided on a hosted environment. Platform's grid architecture provides a framework for delivering critical applications as a service with high availability.
John Mooren, General Manager of Calypso's Galapagos business unit states, "The success we have had with Platform Computing convinced us that they are the ideal technology partner for our Galapagos application which will deliver increased efficiency and accuracy for our customers."
"Platform Symphony is well-suited to support the demanding requirements of Galapagos portfolio optimization applications," said Jim Mancuso, General Manager, Financial Services, Platform Computing. "Taking complex problems and applications and increasing performance dramatically is the added value Platform Computing offers. This builds on a successful existing ISV partnership agreement between Symphony and Calypso Trading and Risk Management software."
Platform Symphony is the market leading software to support the demanding requirements of key banking processes such as intraday risk calculations, pre-trade pricing and end-of-day value at risk calculations. It also implements a utility service model that provides a powerful sharing capability that financial services organizations are leveraging to achieve higher resource utilization. This helps reduce costs and data center energy usage while ensuring business service levels are met. At a time when IT budgets are shrinking and the need for risk management remains high, Platform's solutions are playing a crucial role in helping financial services organizations reduce the total cost of ownership of these vital systems.
About Platform Computing
Platform Computing is the leader in cluster, grid and cloud management software -- serving more than 2,000 of the world's most demanding organizations. For 17 years, our workload and resource management solutions have delivered IT responsiveness and lower costs for enterprise and HPC applications. Platform has strategic relationships with Cray, Dell, HP, IBM, Intel, Microsoft, Red Hat, and SAS. Visit www.platform.com.
Calypso offers financial institutions and corporate treasuries an integrated trading, risk and processing platform which provides a solid, modern foundation for future business growth. Over 110 customers, including eight of the top ten banks, use Calypso to better manage positions and risk globally, across assets, for derivatives and treasury products. The Calypso Trading and Risk Management Platform is the industry's first platform build from the ground up to be a front to back office, cross-asset platform. With thirteen global offices and over 475 employees, Calypso has been recognized for its award-winning innovations and strong customer service culture. Visit www.calypso.com.
"Calypso" is a registered trademark of Calypso Technology, Inc in the United States, the European Union and other jurisdictions. "Galapagos" is a trademark of Calypso Technology, Inc.
SOURCE Platform Computing