GigaSpaces to Serve as Core Software Platform for High-Performance Electronic Trading Application
Ney York, NY - MAY 15, 2007 - GigaSpaces Technologies today announced that Patsystems has selected its Infrastructure Software to build its next-generation global electronic trading system. Patsystems will utilize GigaSpaces Space-Based Architecture approach to deliver a scalable, high-performance system that offers advanced global connectivity and exchange support.
Patsystems provides high-performance electronic trading and exchange systems, comprehensive risk management tools and connectivity to global markets from a single screen. It seeks to address the demands of today's fast-paced trading market by increasing its ability to handle high data volumes and increasing the speed with which it processes transactions across multiple geographies. Patsystems chose the GigaSpaces platform for meeting their requirements for low-latency and fault-tolerance, using a scalable approach. GigaSpaces achieves this by co-locating the data and business logic, and replicating and re-locating them together across the hardware infrastructure. A further advantage of this technological approach is to ensure backwards compatability with the Pro-Mark and J-Trader trading systems as well as Patsystems' market leading exchange connectivity.
"Patsystems is committed to providing our customers with a first class trading platform," said John Mansfield, Global Trading Program Director at Patsystems. "We expect a significant benefit of using GigaSpaces will be its ability to synchronize trading activities across geographies with extremely low-latency. GigaSpaces will enable us to facilitate a large volume of high speed transactions to meet the evolving needs of the trading marketplace and enable global control, 24 hour operation and exceptional resiliency."
"We are delighted that Patsystems selected the GigaSpaces application platform for their high-performance trading system," said Alan Weisleder, Executive Vice President of EMEA Sales at GigaSpaces. "The GigaSpaces software is ideally suited for applications that need to handle 'extreme transaction processing'. It can scale to handle the growing volumes of data and trades, is highly reliable and does it all in latencies of milliseconds."
The GigaSpaces application platform is uniquely suitable for trading systems such as those from Patsystems. It is a single middleware solution that combines data, events and processing coordination. All data is managed in-memory for extreme performance and the application can scale both vertically - within large machines - as well as horizontally - across many cost-effective machines.
GigaSpaces provides a single infrastructure software platform for application scalability and performance. GigaSpaces' unique approach enables developers to write their business logic as if writing to a single computer and then seamlessly scale out the application linearly anywhere, and on-demand. It is targeted at applications characterized by high-volume transaction and data processing and low transaction latency requirements and provides an alternative to Web Services for implementing high performance and scalable service-oriented architectures. GigaSpaces customers include leaders in the financial services, telecommunications sectors and government institutions, including: Societe Generale, Chicago Mercantile Exchange, Dow Jones, Virgin Mobile, Nortel and Hutchison 3G, where the need for mission-critical high-performance, low-latency, reliability and scalability necessitates an alternative to traditional approaches. GigaSpaces was founded in 2000 and has offices in New York, San Francisco, London, Paris and Israel. It is a privately held company, funded by FTVentures, BRM Capital, Intel Capital and Formula Vision.
For more information, please visit http://www.gigaspaces.com, or visit the company's blog at http://www.gigaspacesblog.com.
Patsystems delivers tailored solutions, built from modular components, to enhance derivatives trading performance and trade processing. We work in partnership with our customers to deliver robust systems that align with their business strategies. Our solutions can range from a plug-and-play module to address a specific issue, to complete high-performance trading systems with global market access. Patsystems operates from a global network of offices covering all major derivatives trading centres. Our shares are traded on the London Stock Exchange's Alternative Investment Market (AIM).
For more information, please visit http://www.patsystems.com.
For additional information, contact:
Tel: (+1) 617-681-1256
Alit Bar Sadeh
GigaSpaces Technologies, Inc.
Tel: (+1) -917-701-5185
GigaSpaces is a trademark of GigaSpaces Technologies, Inc. All other trademarks are the property of their respective owners.