Elsen is using NVIDIA technology to bring massive gains in speed and efficiency to the financial calculations run by hedge funds and other financial institutions.
The NVIDIA Tesla Accelerated Computing Platform, which includes GPUs and enabling software, is the leading platform for accelerating data analytics and scientific computing. Complex time-series calculations – like Monte Carlo simulations and other algorithms widely run in financial services for backtesting, pricing and risk management – are ideally suited for GPU acceleration because they can be run in parallel. With their thousands of high-performance processing cores, GPU accelerators excel at parallel calculations.
The Elsen Accelerated Computing Engine, which leverages NVIDIA Tesla GPU accelerators, yields substantial improvements in processing time – running algorithms as much as 600 times faster compared to CPU-based systems – and delivers significant reductions in the number of servers needed and their related costs.
For hedge funds, faster, more powerful processing confers the ability to run more complex models with more complex calculations, scenarios and sensitivities. That can mean understanding certain risks better than a competitor, or finding a sustainable trading advantage.
Havell Rodrigues, Chief Revenue Officer at Elsen, says: “Running more simulations increases both the quality of your results and your confidence in those results. That can translate to faster time to market with new or refined strategies.”
Elsen’s solution makes it easier for financial firms to take advantage of accelerated computing for their computationally intensive applications. It provides a scalable, reliable, secure platform available via an API. Elsen built its API using standard RESTful principles allowing for simplicity, extreme scalability and performance. Elsen’s platform is data-agnostic and even supports custom data sets.
Elsen’s GPU-accelerated computing capabilities also have broad application in other areas of financial services, including:
• pricing options
• modelling financial risk
• underwriting P2P loans
• testing actuarial assumptions
“Elsen’s GPU-accelerated solution provides financial services firms with the ability to run more complex models on more data, which leads to improved trading strategies, better risk management and a potentially significant competitive advantage,” says Sumit Gupta, general manager of Accelerated Computing at NVIDIA. “For many financial services firms, the ability to maximise the efficiency of computational resources and increase financial application performance is game-changing technology.”
Elsen continues to work with NVIDIA to provide even faster, better results for financial firms by delivering new computing solutions that enable them to take full advantage of the power of accelerated computing.
