Abbey National signs up to Datasynapse's LiveCluster service

Abbey National Treasury Services has signed up for LiveCluster, a computer infrastructure software product developed by New York-based trading technology vendor DataSynapse. The UK bank will use the software to enhance the computation of its capital markets and derivatives operations.

LiveCluster is a computer distribution system that speeds up the process of computing mathematical models for pricing, valuation and risk management reports.

Abbey National Treasury Services will use the system for a range of derivatives products, including credit derivatives. The bank is one of the first European financial institutions to purchase the system since DataSynapse opened its London office in April, said Willy Ross, DataSynapse's managing director for Europe, Middle East and Africa.

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