DAILY NEWS AND INFORMATION FOR THE GLOBAL GRID COMMUNITY / JUNE 23, 2003: VOL. 2 NO. 25    ( Table of Contents )

Applications:

DataSynapse/HanoverTrade PARTNER TO SCALE MORTGAGE ANALYTICS

DataSynapse Inc, provider of a leading self-managed, grid computing software, and HanoverTrade Inc, a wholly-owned subsidiary of Hanover Capital Mortgage Holdings Inc, announced an integrated solution grid-enabling Hanover/Busch Analytics with DataSynapse's GridServer application operating environment. One of the largest financial institutions in the world has deployed this joint offering, joining the growing list of marquee customers supporting their operations with DataSynapse and/or HanoverTrade solutions. HanoverTrade and DataSynapse are committed to additional joint sales, marketing, and technical initiatives to deploy this offering at other financial institutions.

The announced integration will permit calculations within Hanover/Busch Analytics to be distributed to hundreds of CPUs managed by GridServer. From a user perspective, this solution dramatically decreases the time required for the Hanover/Busch Analytics application to value up to 5 million loans daily. As a result, calculations that previously had to be run overnight can now be completed on-demand based on user requirements.

"Hanover/Busch Analytics from HanoverTrade is a market leader for mortgage valuation," said Peter Lee, CEO of DataSynapse. "We are delighted to work with HanoverTrade to meet the needs of one of the leading mortgage servicing institutions in the country. This integrated solution is another indication of our ability to meet end-user requirements by partnering with leading application software providers."

"The redesign of our Hanover/Busch Analytics software so it can be deployed over a grid environment makes it the most complete servicing valuation and financial management program in the industry today," said Irma Tavares, President of HanoverTrade. "Our partnership with DataSynapse demonstrates our ability to meet increasingly complex client requirements in a timely manner."