Addressing 21st Century Data Challenges With 21st Century Technologies A Case From The Financial Markets

The fallout from the financial crisis of 2008 continues to be felt in the financial markets domain. Looking back almost a decade later we can clearly observe some fundamental changes in the way in which risk is measured and managed. These changes have been driven both by new regulations and market conditions and may be summarised as a change in focus from the single payoff to a portfolio view taking into account both market and credit risk.

The challenges posed by these conditions firstly concerned modelling and  requisite raw computational demand. In the process of addressing these challenges another emerged, namely the need for a new data infrastructure to support the modelling and by extension computational challenges outlined above.

In this talk Tim Wood, head of HPC and Model Integration at ING Financial Markets, will describe how banks active in the financial markets have become major consumers of HPC technologies in order to support their operations. In particular he will focus on the on the application of in-memory data-grid technologies and how these guarantee performance and scalability and create opportunities to build the next generation of large scale pricing and risk solutions for major institutions.

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Tim Wood has been working with in-memory technologies at ING Bank since 2012, first as a Quantitative Analyst and Developer within Market Risk Trading and later Financial Markets. Now part of ING's IT organisation he heads the High Performance Computing and Model Integration team and plays a key role in shaping ING's IT strategy in the area of pricing and risk for the Financial Markets and Risk domains.