More NewsIMF Selects Platform for Grid Computing

IMF Selects Platform for Grid Computing

The International Monetary Fund (IMF) has selected Platform Symphony from Platform Computing for grid computing in order to perform complex economic modelling and risk analysis. The organisation wanted to leverage its existing infrastructure and increase the performance and efficiency of complex financial applications in the most cost effective manner available.

The IMF strives to identify possible risks to stability and growth, in addition to providing advice on needed policy adjustments. Several of the IMF’s risk analysis and macroeconomic models rely heavily on Monte-Carlo simulations that were previously run on individual workstations and servers. The resulting latency and computation run-time often created efficiency and productivity bottlenecks; something that could not be sustained given the exponential increase in workloads due to the financial crisis.

“The IMF required a proven grid computing solution that would better utilise our existing compute resources to reduce the time required to run increasingly complex calculations,” said Jean Salvati, information technology officer at the IMF. “Platform Symphony will integrate into our existing infrastructure and enable significant response time improvement for our economists. In addition, Platform Symphony will be instrumental as we develop new modelling and simulation tools to assist our members and support our growing role in monitoring global financial institutions.”

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha