Real-time computing. Real-time news.
June 04, 2007
Digipede Selected for Hedge Fund Grid
Leading grid software provider Digipede Technologies announced
that hedge fund manager III Offshore Advisors (III) has deployed the
Digipede Network to power its high-performance financial analytics
grid. Digipede is providing III with the software solution necessary to
manage compute-intensive applications in risk management and trading
analytics.
As III expands its multi-strategy business and
increases portfolio positions, throughput on complex analytics has
become increasingly more critical. "As we extend our traditional fixed
income relative value investment principles to new and changing
markets, we've experienced increasing challenges in completing
important analyses in a timely fashion," said Paul Algreen, CTO at III.
"We looked at a variety of options for increased application
performance, including high-end SMP servers, dedicated clusters and
grids. The Digipede Network really stood out as the obvious choice for
us because of the natural way it fit into our existing IT
infrastructure and preferred development technology."
Algreen
continued, "We're an all-Windows shop, and our developers all use
Visual Studio to develop our applications -- primarily in .NET,
although we also use some third-party COM libraries. Other solutions in
the market would have required a considerable investment in retraining
our developers, followed by some major application re-engineering. The
broad range of programming models supported by the Digipede Network
allowed us to move forward immediately, often adapting applications to
the grid with just a few lines of code. This kind of productivity is
critical for getting us into the market faster with new algorithms for
pricing, trading and risk management."
John Powers, president of
Digipede Technologies, added, "Digipede is pleased to be working with
innovative hedge fund customers like III. Grid computing empowers our
buy-side customers to identify and exploit new trading opportunities,
and to free up more capital through more timely and accurate risk
assessment. We've seen rapid uptake of the Digipede Network among asset
managers in general and hedge funds in particular, as they seek
ever-greater accuracy and performance in asset pricing and risk
management applications. Digipede's hedge fund customers are completing
in just a few days grid computing projects that used to take big banks
years. III, for example, took their grid from proof-of-concept to
production in less than two weeks. That's only possible with a grid
solution specifically designed to fit with existing IT and development
tools and practices."
Powers continued, "Our users continue to
validate the choices we made to work entirely on the Windows platform,
to integrate tightly with the whole Microsoft technology stack, and to
bring the familiar object-oriented development paradigm to the grid.
With the most advanced .NET API in the industry, the Digipede Network
gives our asset management clients the ability to adapt to changing
market conditions on the fly."
Craig Saint-Amour, U.S. Capital
Markets Industry Solutions director at Microsoft Corp., said,
"Digipede's recent success with III and other hedge funds shows the
value delivered by Microsoft and its partners for financial services
customers. We're pleased to see innovative solutions being delivered in
grid computing on the Windows platform, where recent investments by
Microsoft and its partners are now delivering real benefits for our
mutual customers."
The Digipede Network is an affordable
distributed computing solution built entirely on Microsoft .NET that
dramatically improves the speed and performance of demanding real-world
business applications. Integrated with Microsoft SQL Server, Visual
Studio, Windows Compute Cluster Server and other Windows Server
products, the Digipede Network is radically easier to buy, install and
use than other grid computing solutions. Using the Digipede Network,
businesses can easily achieve the benefits of grid computing, including
improved IT agility and increased application scalability. Developers
can write .NET or COM applications that will take advantage of hundreds
or thousands of computers, bringing the power of grid computing to the
Windows platform.
About Digipede Technologies
Digipede
Technologies is the leading software provider of grid computing
solutions for the Microsoft .NET platform. Digipede is led by a proven
team of technology visionaries who have developed best-in-class Windows
applications for more than 15 years. Digipede is a Microsoft Gold
Certified Partner. Headquartered in Oakland, Calif., Digipede is
expanding rapidly. For more information, visit www.digipede.net.
-----
Source: Digipede Technologies-----
Source: Digipede Technologies
