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.”
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