London, United Kingdom (PressExposure) September 22, 2009 -- MPI Europe and GigaSpaces Technologies have formed a strategic partnership that will enable financial firms to manage risk and meet the demands of low latency trading more effectively. The partnership will enable GigaSpaces to extend its reach and capability within the UK, Ireland and Scandinavia and will be a valuable addition to MPI Europeâs portfolio of specialist financial technology partners.
Today's mission-critical transaction processing systems, from electronic trading to online banking and e-commerce, are burdened with more data, more channels and more services than ever before. In addition, regulatory pressure to manage and assess risk more effectively means that speed is the key to running effective risk simulations across the enterprise. Recent benchmark tests using High Performance Computing show that firms can cost-effectively perform full-risk simulations on their portfolios in minutes rather than hours and run pre-trade scenarios in milliseconds using GigaSpaces software, alongside the latest processing technology from technology leaders such as Intel.
MPI Europe provides market knowledge, expert analysis, project management and business support within the European financial services sector and has a strong track record of matching the right technology solutions to financial business requirements.
"Working with MPI Europe will enable us to have a broader reach within Europe and provides us with valuable business and strategic expertise and a holistic approach to driving more performance through trading and risk applications," says James Liddle, UK Director for Sales & Operations at GigaSpaces. "This partnership will strengthen and speed the resolution of several key challenges to financial services companies."
John Cant, Managing Director of MPI Europe, comments: "We are looking forward to working more closely with GigaSpaces Technologies. We select our partners carefully to ensure they provide robust, efficient and scalable solutions that address key business objectives for financial organisations. GigaSpaces technology is innovative and provides the faster processing speeds that our clients are demanding, even when managing highly complex data"
Nigel Woodward, Intel Finance Industry Director, comments: "I am delighted MPI Europe and GigaSpaces are forming this alliance, which complements our existing fasterAPPS initiative with MPI Europe. GigaSpaces technology, optimised to work most effectively with the latest Intel Architecture platform, providing superior performance with exceptional stability. It provides both low latency and high throughput in a variety of applications. Combining this with MPI Europeâs business and consulting expertise is a potent mix for financial services firms."
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About GigaSpaces GigaSpaces Technologies is a leading provider of a new generation of application platforms for Java and .Net environments that offer an alternative to traditional application servers. Its flagship product, XAP 7.0, is an enterprise-grade application server for deploying and scaling distributed applications under any requirement.
GigaSpaces customers depending on our reliability and millisecond latency include many of the Fortune 100 companies, the world's top investment banks, financial exchanges, telecommunications carriers, Web-commerce companies, online gaming companies, and Internet media organizations. GigaSpaces was founded in 2000 and has offices in the United States, Europe and Asia.