SGI And Cornell University Open First Financial Industry Solutions Center

 New York 22 Sep 99 SGI and Cornell University opened the first Financial Industry Solutions Center (FISC), a joint venture dedicated to helping the financial community solve their most challenging computational problems in risk management, financial engineering and business intelligence. With the participation of software developers and solutions providers, FISC is a resource and partner for financial corporations worldwide offering hands-on evaluation and testing of parallel, visulaisation and software technologies, customized solutions and onsite consultation for software optimization.

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Located at 55 Broad Street in the heart of New York City’s financial district, FISC provides the financial community with the latest parallel computing and visualization technology from SGI combined with leading financial modeling and computational finance expertise from Cornell. FISC provides global financial services, investment, mortgage, insurance, and banking firms with a secure and confidential environment to develop and test their own proprietary solutions and optimize software with the help of onsite hardware systems engineers and software engineers. In addition, FISC and member partners will work directly with clients to develop customized, state-of-the-art business intelligence solutions for financial applications.

“Collaborative efforts between academia and industry to tackle specific problems often result in superior solutions,” said Deborah Williams, research director, Meridien Research.
“The availability of resources for research and testing of new modeling approaches will certainly help to further the industry’s understanding of risk management. As these models have become more complex and reliance on them has increased, the need for optimization and thorough testing has increased dramatically.”

Throughout the year, FISC New York will host a series of financial seminars. For more information about FISC New York and the Financial Seminar Series, please visit the FISC web site at http://www.fisc-ny.com .

World-Class Partners

Partners contributing technology and expertise to FISC include:

  • CLARiiON Advanced Storage Division of Data General, an industry leader in Fibre Channel storage solutions and the first major vendor to ship end-to-end Fibre Channel disk arrays, the foundation for deployment of Storage Area Networks (SANs).

  • The MathWorks, Inc, develops, markets, and supports MATLAB, Simulink, and a family of data analysis toolboxes for engineers, scientists, and technical and financial professionals.

  • MicroStrategy Incorporated (NASDAQ: MSTR), which offers the only e-business intelligence platform that meets the data depth, breadth and reporting range requirements to enable up-to-date, detailed data analyses from the financial industry's burgeoning data warehouses.

  • NumeriX-NumeriX’ object-oriented toolkit, designed for streamlining the development of derivative pricing, hedging, and risk management functions, provides unprecedented performance and convergence with its unique underlying algorithms.

  • Ordinal Technology Corp makes the only commercial sort program, called NsortTM, that can perform terabyte-sized sorts at hundreds of megabytes per second.

  • SAS Institute, which develops and maintains the world’s leading integrated system for enterprise-wide information delivery and provides solutions for financial consolidation and reporting, forecasting, risk analysis, portfolio analysis, management science, fraud detection, and credit analysis.

  • Sybase, the leading provider of pre-packaged Industry Warehouse applications for the financial services industry, as well as Sybase® Adaptive Server® Enterprise and Adaptive Server® IQ in use at hundreds of financial institutions.

  • Willow Technology, Inc., the leading independent producer of fully compliant versions of IBM’s MQSeries, the most widely used middleware messaging software on the market, with support for SGI’s IRIX® operating system.
Technology Enabling Faster Time to Insight

Leading financial institutions worldwide depend on the exceptional performance, bandwidth, and scalability of SGI’s ccNUMA (cache-coherent non-uniform memory access) architecture-based servers and visual workstations for compute-intensive financial applications that require fast analysis of large, complex data sets and for fast, reliable file serving. Through FISC, financial organizations have access to a powerful arrangement of advanced computing technologies including a 64-processor Origin 2000 server, a Silicon Graphics® Onyx2 graphics supercomputer, Intel® processor-based SGI 1400M and SGI 1400L servers, Silicon Graphics® 320 visual workstations, and SGI’s visual data mining software, MineSet .

About Cornell University

Cornell University is a world-renowned research university with top-ten programs in computer science and business. Cornell’s research leadership combined with the Cornell Theory Center’s (CTC) expertise in high performance computing and visualization create fertile ground for advances in computational science and financial engineering.

 

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