One of the largest on-demand computing programmes in the global investment banking community has gone live, as BNP Paribas starts a three-year relationship with IBM.
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BNP Paribas will use IBM’s on-demand computing service to process fixed income derivatives, which demand a high level of computational power.
The service will give BNP Paribas extra processing capacity which they will pay for on use. The contract allows BNP Paribas to access the capacity of 2,500 IBM BladeCentre servers, with scope to double this capacity if required.
IBM hosts the servers at its London Deep Computing Capacity on Demand (DCCOD) centre, which opened last month.
Bruce Lee, head of fixed income capital markets production at BNP Paribas, said, “We conducted an extensive review of the various options to provide the capacity to support our applications for the second half of 2006 and beyond - indeed over 18 options were fully explored.”
“IBM’s on-demand option emerged as the most competitive on price/performance, comparing favourably with buying hardware and hosting it ourselves. Now, having gone live in under three months we are confident we made the right choice,” he added.
The on-demand approach is increasingly being used by financial organisations which require high levels of data processing.
Organisations tend to have the choice of developing their own server farms to cope with their peaks in demand for processing power, which HSBC has done, or choosing an on-demand service from the likes of IBM or Sun.
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