GEMSTONE PARTNERS WITH HCL TO OFFER LOWER LATENCY DATA SERVICES

Posted June 23, 2008

BEAVERTON, Ore. – Data services solutions software provider GemStone Systems is partnering with HCL Penstock, the financial services product engineering group of HCL Technologies, to provide services that will meet ultra low-latency requirements of financial firms. [HCL Technologies, together with HCL Infosystems, comprise HCL Enterprise, a $4.8 billion company founded in India in 1976].

HCL’s Enterprise Risk and Compliance product suite will leverage GemStone’s GemFire solution, to offer high-performance, in-memory distributed operational data infrastructure supporting low latency, high scalability and resiliency along with high throughput data sharing.

“We needed a platform that could manage complex data scenario’s like streaming, distributed and federated data from sources across large trading institutions,” says Pramod Gupta, Vice President, Penstock Product Engineering Group of HCL Technologies. “Through our partnership with GemStone, we are now able to provide robustness and speed to our application users looking for trade turnaround times of 10 milliseconds or better.”

With the partnership, HCL will also use GemFire’s caching, data virtualization and other features to address data issues in upstream and downstream applications.

“With global deployments of GemFire through the sales of HCL’s Penstock risk and compliance solution, we are able to reach a broader audience and strengthen user engagements in financial services and other verticals,” says Juan Menendez, Senior Vice President of Business Development and Alliances, GemStone Systems. “Our GemFire solution will provide near real-time data access and smart distribution of fast streaming data, critical to systems such as an analytics engine.”