DataSynapse, a global provider of UniCredit, has developed its Bulldozer pricing application for use with DataSynapse’s GridServer virtualisation software to optimise processing of its financial results both intra-day and end-of-day.
That has significantly reduced the minimum processing time for even the most complex of trade pricing and modelling calculations, DataSynapse said in a statement.
Using the GridServer software has maximised computing efficiencies with UniCredit’s Bulldozer application to enable UniCredit’s Capital Allocation Unit to price more than two million deals in less than two hours. Those figures are then populated to the bank’s accounting, finance and legal entity departments.
“The enhanced computing power GridServer provides our pricing software has exceeded targets beyond our expectations,” says Alberto Ricciotti, head of group pricing for the capital allocation unit at UniCredit. “Our original goal when we embarked on this project was to independently price 600,000 deals in an hour. We are now doing twice that figure. We are also significantly reducing our operational risk and lessening any redundancy in data generation. By having a unique financial model that is valued at a group level, we avoid any data inconsistencies provided by different groups within the bank.”