Platform Computing, the global leader in High Performance Computing (HPC) management software and Fermat, a leading provider of risk and performance management products to the Financial Services Industry, have announced a partnership to integrate all Fermat products with Platform Symphony.
Platform Symphony is the software solution that delivers application performance allowing Financial Services organizations to respond faster to industry demands and market volatility. Fermat's products are focused on assisting Financial Services organizations reduce the risk on day-to-day business decisions. The synergies of this partnership will enhance the return on investment for the firms that use both companies' products.
All existing and new Fermat products, whose calculations require high volume and multi-scenario simulations, will be integrated with Platform Symphony. This includes the enterprise wide usage of existing modules of Fermat ECAP, ALM (for Earnings at Risk), Market Risk, Value-at-Risk (VaR) and Expected Positive Exposure (EPE). In addition, insurance companies will benefit from the application of HPC within Fermat's Solvency II compliance product.
"Companies in the Financial Services industry are continuously striving to remain on the competitive edge. Many institutions see grid computing as a decisive technology," said Thierry Vercueil, CTO, Fermat. "Since Fermat's products are used enterprise-wide, compatibility with Platform Symphony will help customers achieve results more quickly by offering tremendous calculation efficiency to risk and performance management products. Our goal is to deliver additional value to our joint customers. It is only natural to collaborate with key technology providers to maintain the competitiveness of our products as their usage intensifies in depth and scope."
"The integration of our products will increase efficiency, improve resource utilization and reduces costs for our joint clients," says Jim Mancuso, General Manager, Financial Services, Platform Computing. "Platform Symphony is the ideal product to support the demanding requirements of Fermat's applications for key risk management processes such as client behavior simulations, Value-at-Risk (VAR) calculation and stochahastic modeling. Taking complex problems and applications and increasing performance dramatically is the added value Platform Computing offers."