JPMorgan Chase

www.jpmorganchase.com

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Morgan Chase

Overview

Leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity

Challenge

Infinite capacity in the compute system
Handle increased HPC demands – trading & risk management applications
Improve processing service levels
Cut costs – charge business units for processing (peak & off-peak pricing)
Easily grid-enable new applications into production
Overcome organizational skepticism when not running apps on dedicated servers

Solution

Platform Symphony

Results

Built “Compute Backbone” (CBB) combining 7 financial risk management systems that help traders assess and manage financial exposures – interest rates, equities, foreign exchange and credit derivatives

CBB has taken out 20% compute-cycle costs
Improved operational efficiency and reduced operational risk

"...the Compute BackBone saved the bank $1 million in 2003, and another $5 million in savings are expected this year." "...the savings come from lower costs for hardware, reduced development and operational costs, and more effective systems management..."

Adrian Kunzle

Co-head of architecture

JPMC Investment Bank

"... a new credit-trading application was built into the system in just 10 weeks instead of the five months..."

Michael J. Ashworth

CIO

JPMC Investment Bank

Related News & Articles

http://www.computerworld.com/industrytopics/financial/story/0,10801,90416,00.html

http://db.riskwaters.com/public/showPage.html?page=164701

GRIDtoday: GRID COMPUTING SYSTEM ADOPTED BY JP MORGAN CHASE BANK

http://news.corporate.findlaw.com/prnewswire/20050614/14jun20051608.html