Excelian Introduces Grid-as-a-Service Offering

Grid computing works by utilizing multiple compute resources harnessed towards the completion of a task, in a distributed system. Applications for grid in the capital markets include computations of complex formulae and calculations for pricing and risk, particularly counterparty risk measurement for entire portfolios in derivative trades. Others include processing of historical data and analytics, as well as model testing. Excelian's offering allows for dynamic control of the grid, while the use of Azure obviates the need for on-site infrastructure.

"With the Windows Azure cloud platform, customers gain resiliency, flexibility and virtually limitless capacity, as well as the ability to dynamically adjust usage as required in peak usage situations," says Bob Kelly, corporate VP at Microsoft. "Excelian builds on this platform, adding its understanding and expertise in financial services, to give Finance customers a GaaS solution that addresses management, provisioning and cost-for-compute."