Trading on the Grid

Grid Computing

ABN AMRO has rolled out DataSynapse's (New York) GridServer software across the bank's derivatives trading division to improve trading productivity and performance levels while offering enhanced resiliency for trading and risk systems, the vendor announced. DataSynapse GridServer has been deployed in Amsterdam-based ABN AMRO's Macro Exotics Trading division, which includes the trading of over-the-counter derivatives such as exotic interest rate options and long-dated foreign exchange hybrids.

According to DataSynapse, GridServer enables ABN AMRO's process-intensive pricing and batch reporting applications to be packaged, virtualized and executed across a heterogeneous system of resources for improved performance and manageability. As a result, the bank has moved its end-of-day batch reporting to the grid. Used by ABN AMRO for internal operations, compliance and downstream risk systems, processing times have fallen, enabling the bank to begin to increase its intraday processing, the vendor adds. Currently, ABN AMRO is utilizing approximately 600 logical engines in production on a variety of hardware and operating systems, DataSynapse says.

"The grid enables us to trade more-complex exotics in larger volumes," said Richard Bunting, IT relationship manager, ABN AMRO, in a release. "In addition, the increased capacity will allow us to benefit from improved scenario management and intraday processing, which also has enormous benefit in terms of risk management." *

** Wachovia Taps Reveleus for Basel Compliance

Wachovia (Charlotte, N.C.) has implemented the Reveleus (Edison, N.J.) Basel II Solution capital calculation engine, which computes regulatory capital as per the advanced internal ratings-based approach of the Basel II Accord, says the vendor. The solution provides credit, market and operational risk measurement in accordance with Basel II, allows for integration or risk measurement beyond capital adequacy computation, provides a complete audit trail and includes a complete reporting set to meet disclosure requirements, according to Reveleus.

** NFCU Counts On Lawson Software

Navy Federal Credit Union (Vienna, Va.), the world's largest credit union, replaced its legacy accounting system with Lawson Software's (St. Paul, Minn.) Accounts Payable application, part of the vendor's Enterprise Financial Management suite. The deployment has enabled the NFCU to automate invoice processes, which allows staff to expedite statement routing and improve invoice tracking and storage.

** Hapoalim Deploys Safend for Data Protection

Bank Hapoalim (Tel Aviv) deployed Safend (Tel Aviv) Protector to secure its network endpoints from data theft and tampering, securing 15,000 workstations worldwide. Safend Protector blocks access to all ports or devices -- such as USB, Bluetooth and CD/DVDs -- unless they are specifically authorized, enabling IT managers to set granular policies dictating which devices can be used within the organization, and/or for any particular domain, department, computer or user, Safend says.