Numerix Teams with GreenButton
Jun 18, 2012 (Close-Up Media via COMTEX) --
Numerix, a provider of cross-asset analytics for derivatives valuations and risk management, announced a partnership with GreenButton to provide Numerix clients with seamless, secure, on-demand access to cloud computing resources.
According to a release, enabled in the latest release of Numerix CrossAsset XL, a Microsoft Excel-based platform for pricing any derivative or structured product, clients can offload their compute-intensive calculations to any cloud provider including Microsoft Windows Azure via GreenButton's friendly interface. End users can now immediately leverage cost effective cloud resources to respond to market dynamics and regulatory pressures with consistent and more timely analytics.
Numerix said regulatory pressures and business requirements demand that both buy-side and sell-side firms generate faster, more frequent and accurate pricing and risk analysis. At the same time, firms need to assess trading and risk management decisions from a consistent, enterprise-wide, cross-asset point of view. Together these factors combine to necessitate a myriad of increasingly complex and compute intensive pricing and risk calculations. Thus many firms, particularly hedge funds, asset managers and insurance companies, are now in need of customizable cloud-based solutions to meet their business requirements and demand for more compute power.
"Though budgets for IT infrastructure continue to shrink on both the buy- and sell-side the pressure to arrive at the right answer faster from a trading and risk perspective has only increased," said Steve O'Hanlon, President and COO of Numerix. "Numerix made a strategic business decision several years ago to lead the industry in its evolution towards cloud-based solutions by delivering flexible offerings that enable our clients to confidently tap the power of private, public and hybrid clouds such as Windows HPC and Azure. Our partnership with GreenButton is an ideal complement to our cloud enablement strategy. It combines our best-of-breed analytics with the most innovative, easy to use on-ramp to the cloud, ultimately lowering total cost of ownership (TCO), boosting productivity and empowering more granular analysis for our clients."
"Together with Numerix market leading analytics, GreenButton can accelerate financial services firms' use of the cloud in revolutionary yet cost effective ways," said Scott Houston, Chief Executive Officer, GreenButton. "Clients can literally burst to the cloud with the push of a button creating a huge competitive advantage. For example, small and mid-tier firms, including hedge funds, can now compete on a level playing field with larger firms as they can readily access the compute power needed to produce more timely and granular analysis of their portfolios."
GreenButton is a global software company that specializes in high performance cloud computing. The company provides a cloud platform for development and delivery of software and services that enable independent software vendors (ISVs) to move to the cloud and for their users to access cloud resources. GreenButton is Microsoft Corp's 2011 Windows Azure ISV Partner of the Year and the company is has offices in New Zealand, Palo Alto and Seattle.
Cloud computing is a phenomenon, projected by industry analysts to exceed US$160 billion, but end users and vendors are struggling with engagement models and portal interfaces.
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