Investment bank Société Générale’s corporate and investment banking division has completed a grid computing project aimed at accelerating credit risk calculations and providing a scalable infrastructure.
The bank, whose UK office is in London, has used Platform Computing’s application management program, Symphony, to speed up information provision and reduce its total cost of ownership. As part of the process, the vendor integrated its product with the bank’s existing risk management application from supplier Algorithmics.
Société Générale said the project had helped to cut capital costs by eliminating expensive shared memory multiprocessor servers and replacing them with low cost, standards-based IBM Linux clusters. It said the new infrastructure should help to accelerate application performance, reduce infrastructure costs and support growth of market activities.
Martine Boullé, chief information officer corporate and risk systems at the firm, said it was “imperative” that the company maximised the performance and efficiency of its IT environment to provide information faster to clients, and grid computing was enabling this.
She added: “We have extended our grid infrastructure to new lines of business, seamlessly migrating our existing risk management applications and reducing the overall capital costs of our IT hardware.”
The bank also said the project was creating opportunities to extend its grid environment to encompass all areas of credit risk management.
In recent months, there has been debate about the importance of grid computing. A recent survey placed grid computing behind information lifecycle management as this year's hot trend in IT.