Hazelcast Releases Cloud-based Architecture for Financial Se

Hazelcast Releases Cloud-based Architecture for Financial Services Risk Management Applications


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SAN MATEO, Calif., Feb. 24, 2021 /PRNewswire/ --
Hazelcast, the fast cloud application platform, is releasing a reference implementation that simplifies a financial service organization's ability to execute and scale financial risk calculations in the cloud while gaining real-time performance and fully-utilizing the resource-heavy investment. Additionally, Hazelcast is also announcing the availability of its managed service, Hazelcast Cloud Enterprise, on Google Cloud Platform (GCP), which was used as the environment for this reference implementation.
Credit value adjustment (CVA) is the financial measure of risk for a given set of trades should the counterparty default on its obligations. The Hazelcast reference architecture showcases how an in-memory computing platform can leverage the advantages of cloud environments, especially around elasticity and agility. CVA calculations are large-scale computational jobs, and the ability to scale on-demand lets financial services firms control their computing costs by only paying for the resources they use.

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