GigaSpaces Technologies, a provider of virtualized application platforms, announced that SuperDerivatives (SD), a provider of derivatives solutions, is using GigaSpaces (News - Alert) eXtreme Application Platform (XAP) with some of its SD risk management solutions.

SD provides trading professionals on both the buy and sell side with a unique combination of unbiased, aggregate market data and sophisticated modeling techniques.

The company also provides full-fledged risk management solutions, award winning derivatives data and independent portfolio revaluation services.

“Speed, scalability and reliability are critical for financial services applications,” said Adi Paz (News - Alert), GigaSpaces executive vice president for Marketing and Business Development, in a statement. “Using XAP, SD customers can rest assured they enjoy a fast, reliable, and scalable execution of terabytes of data with minimal latency.”

XAP, the next generation of middleware, is an end-to-end virtualized application platform that allows for application processing and messaging services within the same in-memory data grid. It helps SD enhance the performance of some of its risk management solutions.

The XAP architecture allows SD to support its intensive computations that breaks down heavy calculations into multiple sub-tasks running in parallel. This results in increasing processing speed by the provisioning of additional resources on the fly.

“Our customers need a solution that can handle heavy calculations simultaneously while ensuring performance, scalability and high availability,” said Matty Roter, director of IT & Operations at SD, in a statement. “XAP technology combined with our solution gives our clients a clear competitive edge.”

Earlier in March, GigaSpaces announced the release of its second-generation cloud-enablement platform that offers an exclusive silo-free architecture to customers building their Platform-as-a-Service (PaaS) or Software-as-a-Service (SaaS (News - Alert)) environments, enabling them to gain unprecedented efficiencies and fast time to market.