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First Deployment in Abbey National Financial Products Credit Derivatives for Risk Calculations

After reviewing alternative vendor offerings and performing rigorous scalability and performance testing, Abbey National Treasury Services plc (“ANTS”), part of the Abbey National Group – the sixth largest banking group in the UK - has selected DataSynapse Inc.’s LiveCluster 3GTM solution as the guaranteed distributed computing infrastructure to support next generation financial application development corporate-wide. DataSynapse is one of the leading suppliers of commercial grid technology. Powered by the GridServerTM, LiveCluster enables ANTS to leverage its computing resources, increasing the speed and reliability of key risk reporting applications. The LiveCluster solution has gone live and is deployed with risk management and reporting applications in the bank’s financial products division.

ANTS requires a distributed computing solution with an extensible architecture. It is important that it supports both existing and next generation applications, as well as easily integrating with its current system environment. Using DataSynapse’s LiveCluster solution will give them faster, more accurate results; improve existing hardware utilisation and guarantee job completion.

“As we expand further into complex derivative products, we place greater reliance on models for production of our risk data,” said ANTS IT Director, John Hasson. “LiveCluster provides us with a scalable and cost efficient platform for producing this data with minimal support cost overheads. We have already added internal applications to this infrastructure with refreshing ease; meaning realising real business benefits.”

“The ability to rapidly implement a system that would provide a resilient, scalable architecture from which to run its critical business applications was of paramount importance to ANTS,” said DataSynapse Managing Director EMEA, Willy Ross. “They reviewed alternate solutions but ultimately found DataSynapse in the unique position of being able to offer the solution in an easy to integrate, turnkey package”

About DataSynapse, Inc.

DataSynapse, Inc. deploys a self-managed, guaranteed, distributed computing platform, LiveClusterTM, that delivers order of magnitude increases in the speed and reliability of software applications while substantially reducing clients’ total cost of ownership. LiveCluster solves compute- and data-intensive bottlenecks by unobtrusively harnessing the power of servers, clusters and/or desktops anywhere on a client’s network, whether dedicated or underutilised. LiveCluster integrates easily with new or legacy applications running on Linux, UNIX or Windows systems. It provides automated process management, scalable programming architecture, guaranteed service execution and self-recovering adaptive load balancing built on a state-of-the-art, extensible architecture.

DataSynapse, the winner of Risk Magazine’s “2002 Software Product of the Year,” has been named Intel’s exclusive distributed computing partner for financial services. DataSynapse is headquartered in New York, with offices in London, Houston, Chicago and San Francisco. For more information see
http://www.datasynapse.com

About Abbey National

Abbey National Treasury Services plc (“ANTS”) is the wholesale banking arm of the Abbey National Group, the UK’s sixth largest banking group as measured by assets.

ANTS is a leading wholesale bank with scale, breadth and stature in the international financial markets. It has diverse experience in asset and liability management and is built on prudent risk principles, which are complemented by an infrastructure responsive to market conditions. The bank comprises a Commercial Banking business (including its asset financing, commercial lending, securities financing and risk management activities), a large Investment Portfolio and the Group’s Treasury.

Editorial Contacts

For further press information please contact:

DataSynapse

Tamsin Keynton

MCC International Ltd

Tel: 01962 888100

Email: tamsin.keynton@mccint.com

Abbey National

Alastair Glenn

Abbey National Media Relations

020 7756 4194

Email:alastair.glenn@abbeynational.co.uk

This press release was distributed by ResponseSource Press Release Wire on behalf of MCC International Ltd in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.