Financial firms bank on Intel Xeon 5500

RISK MANAGEMENT OUTFIT, QuIC Financial Technologies, wants us all to know how it has managed to beef up its speed and performance metrics to achieve "record results" using Intel's recently launched Xeon 5500.

The firm which performs such rivetting services as credit derivatives, interest rate derivatives, equity derivatives and FX derivatives sent out a derivative press release in which it claimed it had already been posting record speeds during an initial benchmark test back in November 2008, but having replaced its old kit for some brand spanking new Xeon 5500s, it has now seen a thirty per cent increase in speed. We hope you, dear reader, are as breathless as we were when we first read that.

An "extremely excited" Tony Coppellotti, QuIC's Chief Technology Officer, said that with capital running dry and banks being stingier (or "more stringent") than ever, firms like his were being forced to deliver "the highest level of accuracy in their calculations, at quicker speeds than ever before".

Luckily for QuIC, Intel rode in to save the day, armed only with its razer sharp focus on advancing technology and a truck load of Xeon 5500s to help banks and other financial institutions deliver speed, performance, and world peace.

It will also ensure - possibly for the first time ever judging by the state of the markets - "that banks have the right tools to calculate the risk on a growing number of scenarios and complex positions needed to compete in today's market."

ok, ok, no need to bank on about it. µ