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July 07, 2008
HCL, GemStone Create Ultra-Low Latency Financial Solution
GemStone Systems, the leading provider of the Enterprise Data Fabric (EDF), announced a partnership with HCL Penstock, the financial services product engineering group of HCL Technologies, to meet ultra low-latency requirements of financial firms. HCL will leverage GemStone's GemFire solution for its Enterprise Risk and Compliance product suite. The combined solution will offer a high-performance, in-memory distributed operational data infrastructure that supports low latency, high scalability and resiliency along with high-throughput data sharing.
Regulatory compliance issues commonly associated with MiFID and RegNMS, combined with algorithmic trading, routing and competitive clearing and settlement times, have resulted in increased demand among financial institutions to manage large data volumes at sub-second speeds. HCL solutions use GemFire's advanced caching, data virtualization and high availability features to help alleviate these data issues encountered by the upstream and downstream applications.
"We needed a platform that could manage complex data scenarios like streaming, distributed and federated data from sources across large trading institutions," states Pramod Gupta, vice president of the Penstock Product Engineering Group of HCL Technologies. "Through our partnership with GemStone, we are now able to provide robustness and speed to our application users looking for trade turn around times of 10 milliseconds or better.
"With global deployments of GemFire through the sales of HCL's Penstock risk and compliance solution, we are able to reach a broader audience and strengthen user engagements in financial services and other verticals," said Juan Menendez,senior vice president of business development and alliances at GemStone Systems. "Our GemFire solution will provide near real-time data access and smart distribution of fast streaming data, critical to systems such as an analytics engine."
HCL Penstock has a pipeline of products in areas such as market data management, enterprise risk management (ERM) and related segments in banking and insurance businesses that address the critical needs of today's high-speed transaction environment, which relies on large volumes of data handling in a high performance environment. The solution is now available through HCL Enterprise.
About GemStone Systems Inc.
GemStone Systems is a privately held infrastructure software company that provides data services solutions for enterprise business architects and data infrastructure managers that are building, enhancing or simplifying access, distribution, integration and management of information within and across the enterprise. Founded in 1982, and with over 200 installed customers, GemStone is recognized worldwide for its unique competency and patented technology in object management, virtual memory architectures, high-performance caching, and data distribution technologies.
About HCL Enterprise
HCL Enterprise is a $4.8 billion (Rs. 19640 crore) leading Global Technology and IT enterprise that comprises two companies listed in India -- HCL Technologies and HCL Infosystems. The three-decade-old enterprise, founded in 1976, is one of India's original IT garage start-ups. Its range of offerings span Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises approximately 53,000 professionals of diverse nationalities, who operate from 18 countries including 360 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and technology firms. For more information, visit www.hcl.in.
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Source: GemStone Systems Inc.
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