The Sun Grid has proven it can reduce the time required to run complex financial risk simulations from days to less than one hour. These results were reported following a recent trial deployment of financial services software from CDO2, which is a provider of innovative pricing and risk technology for organizations trading structured credit products, on the Sun Grid Compute Utility.

"Since we have dramatically reduced time to market and costs by using Sun Grid, we can now give our customers access to a level of computing power they have never had before," said Gary Kendall, director, CDO2. "Until recently, only large banks could take advantage of advanced pricing models and enterprise technology. Now, with Sun Grid's ability to optimize for exactly the amount of computing resources each customer needs on a utility basis, we've eliminated these barriers."

By utilizing the Sun Grid Compute Utility, CDO2 expects to reach an expanded set of customers for whom such simulations were previously too time-intensive and costly.

"CDO2's deployment reveals the opportunities created, particularly for smaller ISVs, to reach broad audiences; and for their smaller business customers to tap the computing resources and software previously available only to larger institutions," commented Stuart Wells, executive vice president, utility computing, Sun.

As evidence by CDO2's trial deployment, the Sun Grid can help customers and partners derive immediate benefits from an open, grid-based computing infrastructure on a utility basis by giving them more choice and control over how they purchase and leverage IT. "With Sun Grid, our partners can deliver applications faster to their customers through the simplicity of the grid," added Wells.

The Sun Grid offerings include the Sun Grid compute utility, a USD$1 per CPU per hour pay-per-use offering ($1/cpu-hr), and the Sun Grid storage utility, a $1 per gigabyte per month offering ($1/GB-mo).

Sun and CDO2 also announced plans to develop a demo center in Sun's UK-based Customer Briefing Center in Guillemont Park, allowing potential customers to try running their own data on the Sun Grid using CDOSheet, which is an application where users are able to price and risk manage structured credit products from a spreadsheet. Extended trials also can be booked on the Sun Grid running in Scotland. [...read more...]

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