Jan 7, 1999

The Centre for Development of Advanced Computing (C-DAC) - Pune, which is engaged in the design and development of the celebrated PARAM series of Supercomputers, is exporting to MAN-DRAPEAU RESEARCH PTE. LTD., Singapore, an end-to-end solution for Financial Modeling for Investment Analysis and Risk Management with its latest PARAM 10000 series. This project focuses on Data mining, a specialized field which is highly relevant in today's knowledge based economy where there is a premium on extracting useful information form the enormous amount of data present for applications in business intelligence and risk management, highly sophisticated scientific techniques like artificial intelligence, mathematical modeling coupled with state-of-the-art IT tools are now being deployed to achieve this goal.

Basically, the solutions tend to improve the odds of winning in a complex and uncertain world. The objective is to do Quantitative Modeling of global financial markets for investment analysis and risk management. The project focuses on data of very short-term price movements, including every single trade, in a broad range of global markets where the density of this information requires the power of a supercomputer to perform effective analysis. The "tick-by-tick" database to be built will be one of the largest in the world dedicated to financial markets research.

C-DAC has already commissioned successfully the PARAM 10000 in the Education and Research sector at AMRITA Institute of Technology & Science, Coimbatore and is also offering the PARAM 10000 for Electronic Governance to the State of Andhra Pradesh.

Speaking at this occasion, Mr. R. K. Arora, Executive Director, C-DAC said, "The development of the PARAM 10000 had placed India amongst those league of nations, that are advancing in the frontiers of supercomputing in the teraflops range. C-DAC's PARAM 10000 OpenFrame Architecture machine can scale to the teraflops level, which is the capability that currently exists only in advanced countries such as the United States and Japan. Today it is a proud occasion for us, when a system based on our own indigenous technology is getting exported to Singapore for a Financial Modeling application. Certainly, we believe that this export will serve to boost technology exports in this area to other countries as well in the future."