International Monetary Fund deploys Platform grid software
Platform Computing has announced that the International Monetary Fund (IMF) has selected Platform Symphony for high-performance grid computing. The IMF works to advance global growth and economic stability by monitoring the economic and financial policies of its 185 member countries and the world’s financial institutions. The current strain under which global financial markets are operating has required the IMF to increase its economic modelling and risk analysis activities. The organisation turned to Platform Computing to leverage its existing infrastructure and dramatically 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 any policy adjustments which may be required. Several of the IMF’s risk analysis and macroeconomic models rely heavily on Monte Carlo simulations, 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. The IMF choose Platform’s flagship financial services product, Platform Symphony, to facilitate the calculation of complex economic models more rapidly and more efficiently. The IMF estimates that Platform Symphony will accelerate processing time for economic modelling computations tenfold, allowing economists to significantly increase their productivity.