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GigaSpaces platform delivers stunning performance on Intel Nehalem with fasterAPPS; Faster Grid Processing Technology for Managing Risk and Speeding Low Latency Trading(M2 PressWIRE Via Acquire Media NewsEdge) MPI Europe, London -- MPI Europe announces a 300% performance improvement of GigaSpaces eXtreme Application Platform (XAP) over previous results when combining GigaSpaces software with the latest Intel processor. XAP's latest version 7 reached 1 million data updates per second and 2.6 million data retrievals per second with four client threads on the Nehalem, while reaching 276,000 updates per second and 453,000 retrievals per second with XAP 6 on the best previous Intel processor. The combination of the latest product versions also demonstrated 30 percent better scalability than previously. This test was part of the fasterAPPS programme, a joint initiative among Intel, MPI Europe and Globant, designed to promote the migration of financial applications from legacy computer architectures to Intel's latest Xeon 5500 processor, Nehalem. Testing GigaSpaces technology with Nehalem demonstrates that XAP's data update and retrieval operations are three to four times faster, and read operations are three to six times faster. The new benchmark showed better scalability when making increased use of multi-threading, allowing applications to easily scale to extreme levels of throughput and latency. John Cant, Managing Director for MPI Europe, comments: "This is a strong performance given that the previous benchmark was already delivering market-leading results. It indicates the major strides GigaSpaces and Intel have made over recent months. It further underscores the reasons why vendors and clients are approaching us to discuss plans for migration to Nehalem in 2010." The test compared a previous benchmark of GigaSpaces XAP 6.X running on the best previous Intel processor with XAP 7 running on the newer Xeon 5500 Intel processor, code-named Nehalem. "We have built XAP to run efficiently on any processor, ensuring extremely high throughput with millisecond latency and scalability on demand," says James Liddle, GigaSpaces Director, Sales and Operations, UK, Ireland and Scandinavia. "By switching to Nehalem, our customers will be able to use XAP's speed and flexibility to give them a competitive advantage in the market. We thank MPI, Intel, and Globant for inviting us to participate in their fasterAPPS program." The results are welcome news for financial services firms needing to address the increasing challenges of low latency trading, risk management and increased regulatory reporting in 2010. It represents a significant advance for capital markets participants requiring intraday risk simulations and more extensive pre-trade checks to allow better risk management and trading decisions in volatile markets. Nigel Woodward, Intel Finance Industry Director commented: "We are delighted to see this deep engagement between Intel and GigaSpaces at engineering level, where we see the advantages of tuning software to the latest innovations in hardware - and features in iA (Intel architecture). In particular, looking to the future in financial services we believe the issues will be related to high end data management, notably risk management and scenario testing across enterprise data. GigaSpaces' technology will be highly appropriate in this context." The three companies (Intel, MPI & Globant) designed the fasterAPPS program to promote the migration of financial applications from legacy computer architectures to Intel's latest Xeon 5500 processor technology, Nehalem. This new Intel technology, launched earlier this year, represents a generational change in computing power that makes a significant difference to business applications. The fasterAPPS consortium, a unique combination of the experience and technology, is committed to developing faster applications for the financial marketplace. They combine software design, consultancy and faster processing power to ensure applications such as XAP run to their full potential. The partners are providing a low-risk upgrade path encompassing leading-edge technology, industry-leading technical services and consulting, together with an innovative and attractive commercial model. About MPI Europe MPI Europe (MPIE) www.mpi-europe.com was established in 2004 and specialises in Financial Services Consulting. The company focuses on business process and technology projects that result from regulatory driven and technology enabled change. They have a significant track record working in banking, capital markets, asset and alternative funds management. Over recent years, MPIE has successfully completed business driven programmes for MiFID and other regulatory programmes, Fidessa implementations, merger/integration, equity commission sharing/unbundling, operational risk, and client reporting and has worked with a number of leading banks and asset management companies, as well as with specialist information technology firms. This in-depth experience and expertise enables MPI to work with financial companies to evaluate their existing processes and methodology and develop a programme which effectively implements change for people, process and technology with follow through to deliver business benefit. MPIE offers a range of engagement types from traditional advisory consulting, through programme management and business analysis assistance, to providing a full implementable solution to certain business challenges - commission sharing, client reporting, supply chain finance & operational risk management - through their strategic partnerships with selected technology providers. Our content-led, innovative, collaborative and implementation focused approach differentiates us from other consultancies. Address: MPI Europe, CityPoint, 1 Ropemaker Street, London, United Kingdom, EC2Y 9HT. About Globant Globant is one of the global leaders in software product development, application migration and IT maintenance outsourcing. Globant combines a rational blend of Open Source Technology with proprietary software, which brings agility, flexibility, risk mitigation and ultimately reduces costs. Globant's proprietary SmartStaffing Technology yields high performance teams that enable companies to quickly develop and enhance their software products and gain an edge in the competitive landscape with the lowest total cost. Globant is a privately held, privately funded company headquartered in Buenos Aires, Argentina with offices in London, New York, Boston, San Francisco, Austin-Texas, Santiago, Bogota, Mexico City as well as regional offices in Tandil, Cordoba, Rosario and La Plata in Argentina. For more information, visit www.globant.com Address: Globant, Central Point, 45 Beech Street, London, EC2Y 8AD, United Kingdom About GigaSpaces GigaSpaces Technologies is a leading provider of a new generation of application platforms for Java and .Net environments that offer an alternative to traditional application servers. Its flagship product, XAP 7.0, is an enterprise-grade application server for deploying and scaling distributed applications in any environment. GigaSpaces customers depending on XAP's unmatched performance, resilience, and scalability include Fortune 100 companies such as Dow Jones and Societe General, the world's top investment banks, financial exchanges, telecommunications carriers, eCommerce companies, online gaming companies, and Internet media organizations. GigaSpaces was founded in 2000 and has offices in the United States, Europe and Asia. For more information, please visit http://www.gigaspaces.com, or visit the company's blog at http://www.gigaspacesblog.com. ((Comments on this story may be sent to [email protected])) (c) 2009 M2 COMMUNICATIONS |