GridGain In-Memory Computing Platform Offers Real-Time Processing of Massive Amounts of Trade and Transaction Data for Leading FinTech Firm
FOSTER CITY, Calif. – December 19, 2016 – GridGain, provider of enterprise-grade in-memory computing solutions based on Apache® Ignite™, today announced that Misys, a London-based financial services software company, is relying on the GridGain Enterprise Edition to enable high performance, real-time data processing.
Misys offers financial technology (fintech) software solutions that manage huge amounts of trade and accounting data. To meet customer demand for real-time services and satisfy evolving compliance and reporting regulations, Misys opted to implement a new Java-based IT architecture in their fintech solution that would support the use of data lakes instead of traditional databases. To handle the caching of data from the data lake and distributing the cached data across a network cluster for massive parallel processing, Misys opted to deploy the GridGain Enterprise Edition.
“With GridGain, we have achieved real-time processing of massive amounts of trade and transaction data, eliminating bottlenecks and enabling us to offer next-generation financial services to our customers,” said Felix Grevy, Director of Product Management for FusionFabric.cloud at Misys.
Based on Apache Ignite, the GridGain Enterprise Edition enables scale out of data-intensive applications to petabytes of data and a 1,000x improvement in transaction times versus disk-based approaches, without replacing the existing databases. It provides high-speed transactions with ACID guarantees, real-time streaming, and fast analytics in a single, comprehensive data access and processing layer. GridGain powers existing and new applications in a distributed, massively parallel architecture on affordable, industry-standard hardware, which can be easily scaled by adding more nodes to the GridGain in-memory computing grid. GridGain requires minimal or no modifications to the application or database layers for architectures built on all popular RDBMS, NoSQL or Apache™ Hadoop® databases.
Prior to implementing the GridGain Enterprise Edition, Misys relied on batch processing of large amounts of transaction data, resulting in delays before the data was available for querying. GridGain enables synchronous real-time processing and computation with low latency by storing the data in memory and parallelizing processing across multiple machines in the cluster.
Misys is also using GridGain in its roll out of FusionFabric.cloud. That service integrates Misys trading systems and banking systems with cloud-based components to offer a business-wide, cross-silo approach to handling OTC derivatives, exchange-traded derivatives, inflation, fixed income, FX/MM, hybrids, and structured products from trading through to accounting. Thanks to GridGain, FusionFabric.cloud provides infinite computational elasticity and real-time risk analysis with full valuation. In addition, GridGain enables Misys to keep its document store of trade and market data in memory and run calculations in parallel to dramatically reduce processing time for compute-intensive calculations related to regulatory compliance.
“As in many industries, fintech companies are compelled to find solutions that enable them to process ever-increasing amounts of data in an ever-shrinking time window,” said Abe Kleinfeld, President and CEO of GridGain Systems. “Misys software, powered by the GridGain in-memory computing platform, offers a huge leap forward in processing performance by eliminating the bottlenecks inherent in disk-based solutions.”
GridGain Systems is revolutionizing real-time data access and processing by offering enterprise-grade in-memory computing solutions built on Apache® Ignite™. GridGain solutions are used by global enterprises in financial, software, ecommerce, retail, online business services, healthcare, telecom and other major sectors. GridGain solutions connect data stores (SQL, NoSQL, and Apache™ Hadoop®) with cloud-scale applications and enable massive data throughput and ultra-low latencies across a scalable, distributed cluster of commodity servers. GridGain is the most comprehensive, enterprise-grade in-memory computing platform for high volume ACID transactions, real-time analytics, and hybrid transactional/analytical processing. For more information, visit gridgain.com.
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GridGain is a trademark or registered trademark of GridGain Systems, Inc. Apache, Apache Hadoop, Hadoop, Apache Ignite, and Ignite are trademarks of The Apache Software Foundation. All other product and company names herein may be trademarks of their registered owners.