HCL Enterprise Partners with GemStone Systems to Provide an Ultra-Low Latency Solution for Financial Institutions

Partnership will address regulatory compliance challenges, high speed market data and execution services requirements, and risk management

Beaverton, Ore. – June 30, 2008 – GemStone Systems, the leading provider of the Enterprise Data Fabric (EDF), today announced a partnership with HCL Penstock, the financial services product engineering group of HCL Technologies, to meet ultra low-latency requirements of financial firms.  HCL will leverage GemStone’s GemFire® solution for its Enterprise Risk and Compliance product suite.  The combined solution will offer a high performance, in-memory distributed operational data infrastructure that supports low latency, high scalability and resiliency along with high throughput data sharing.  

Regulatory compliance issues commonly associated with MiFID and RegNMS, combined with algorithmic trading, routing and competitive clearing and settlement times have resulted in increased demand among financial institutions to manage large data volumes at sub second speeds.  HCL solutions use GemFire’s advanced caching, data virtualization and high availability features to help alleviate these data issues encountered by the upstream and downstream applications. 

“We needed a platform that could manage complex data scenario’s like streaming, distributed and federated data from sources across large trading institutions,” states 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 turn around times of 10 milliseconds or better.”

“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,” said 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.” 

About HCL Penstock Product Engineering

HCL Penstock Product Engineering is a transformational program within HCL Technologies to build new generation Technology Products and Solutions for the Capital Markets, Retail & Corporate Banking and Insurance businesses in SOA architecture. The products are modular and are pegged on core Foundation Data Model for each of these businesses, which act as the platform to facilitate rapid build of business solutions and integration with the other technologies and applications of the ecosystem.
The group’s pipeline of products in areas such as market data management, enterprise risk management (ERM) and related segments in banking and insurance businesses addresses critical needs of today’s high speed transaction environment, which relies on large volumes of data handling in a high performance environment.  The solution is now available through HCL Enterprise. 

 About HCL Enterprise

HCL Enterprise is a US $ 4.8 billion (Rs. 19640 crore) leading Global Technology and IT enterprise that comprises two companies listed in India - HCL Technologies & HCL Infosystems. The 3-decade-old enterprise, founded in 1976, is one of India's original IT garage start-ups. Its range of offerings span Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises approximately 53,000 professionals of diverse nationalities, who operate from 18 countries including 360 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.in

About GemStone Systems, Inc.

GemStone Systems is a privately held infrastructure software company that provides data services solutions for enterprise business architects and data infrastructure managers that are building, enhancing or simplifying access, distribution, integration and management of information within and across the enterprise.  Founded in 1982, and with over 200 installed customers, GemStone is recognized worldwide for its unique competency and patented technology in object management, virtual memory architectures, high-performance caching, and data distribution technologies.