Grid Results At Financial Services Firm Reduces Processing Time To Seconds
IBM is driving the benefits of Grid computing beyond its academic and research roots and into business enterprises with the introduction today of ten Grid offerings targeting key industries, including financial markets.
Additionally, IBM announced that it's working with Charles Schwab on Grid computing solutions at the financial services giant's headquarters in San Francisco. The first Grid research and development project, just completed there, focused on maximising processor efficiency and reduced the processing time on a financial application from more than four minutes to 15 seconds. The two companies are now looking to expand Grid research into other areas of Charles Schwab's business.
"We believe that Grid computing built and designed around open standards has the potential to greatly improve our quality of service and be a truly disruptive technology that can help us improve our business," said Oren Leiman, managing director of advanced technology at Charles Schwab.
IBM also announced today that it has established master relationship agreements with two Grid middleware vendors - Platform Computing and DataSynapse - both of which will play key roles in helping IBM deploy Grids in the enterprise. IBM also has agreements with middleware providers Avaki, Entropia and United Devices.
"The benefits of Grid computing for e-business on demand are here; it's now and it's real," said Tom Hawk, general manager of Grid computing worldwide for IBM. "Working with our ISV business partners and the open Globus community, we've developed a set of structured capabilities and offerings that leverage IBM's unmatched experience in deploying IT solutions to help businesses reap the benefits of Grid computing. The commercial market for Grids is set to expand, particularly with the introduction of the Globus Toolkit 3.0, the first OGSA-compliant Grid middleware."
From Minutes to Seconds
IBM and Charles Schwab's Advanced Technology Group took an existing application that ran on non-IBM systems and Grid-enabled it with the Globus Toolkit running RedHat Linux on IBM eServer xSeries 330 machines. The recently completed tests applied complex numerical methods in a dedicated environment to an existing wealth management application. This Grid-enablement reduced the processing time on the application from more than four minutes to 15 seconds. If implemented, this could allow Charles Schwab to increase customer satisfaction by responding to inquiries at a faster pace.
Notes to editors:
New Grid Offerings
IBM's go-to-market strategy in 2003 is built around five Grid focus areas that address the needs of the aerospace, automotive, financial markets, government and life science industries. These focus areas, which were based on customer feedback and customer Grid implementations, are Research and Development, Engineering and Design, Business Analytics, Enterprise Optimisation, and Government Development.
Financial Markets (Business Analytics and Enterprise Optimisation Focus): For Financial Services customers, IBM is offering two Grid options, an Analytics Acceleration Grid and an IT Optimisation Grid. The Analytics Acceleration Grid can help enhance a company's competitiveness and agility in the financial trading market by accelerating its trading analytics operations and increasing its computational throughput. The IT Optimisation Grid is designed to help customers exploit available, underutilised compute and storage resources. IBM's work with Charles Schwab, announced today, is one example of an Analytics Acceleration Grid.
The Grid offerings announced today are designed to operate in a heterogeneous environment and will incorporate the Open Grid Services Architecture (OGSA). IBM Global Services will support all elements of a Grid implementation with both IBM and non-IBM hardware and software.
IBM is the world's largest information technology company, with 80 years of leadership in helping businesses innovate. Drawing on resources from across IBM and key Business Partners, IBM offers a wide range of services, solutions and technologies that enable customers, large and small, to take full advantage of the new era of e-business. For more information about IBM's Grid computing business, visit www.ibm.com/grid.
IBM, eServer, and xSeries are trademarks or registered trademarks of International Business Machines Corporation in the United States and other countries.
Linux is a registered trademark of Linus Torvalds.
Other company and product names are or may be trademarks of their
Click on the link below to see this news release as it appears on the Brodeur
News Room website and obtain full contact details.
Click the link below to login and update your company and subject preferences,
or personal details.
Click on the link below to have your login details re-sent to you.
This press release was distributed by ResponseSource Press Release Wire on behalf of Pleon in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.