Mizuho Securities Speeds Derivatives 30x with Intel Xeon Phi

MizuhoMizuho Securities reports that they are the first financial institution to deploy the Intel Xeon Phi coprocessor in a production environment. The results look to be quite rewarding as the company has seen a 30-fold speed-up by porting their Mizuho Securities’ Derivative Valuation System to the multicore Phi coprocessor.

I am happy to announce that Fixstars’ expertise in parallel processing in conjunction with Intel’s Technology had been able to improve upon Mizuho Securities’ Derivative Valuation System,” said Kosuke Hirano, Senior Executive Officer, Intel K.K.. “Intel will continue innovating with the highly parallel processing capability of Intel Xeon Phi coprocessors.”

Low interest rates have increased the demand for structured bonds, which combines the use of bonds in conjunction with derivatives. To meet these customer demands, Mizuho Securities had been investigating ways to efficiently perform the vast amount of computations required by their Derivative Valuation Systems, which led them to consider the use of Intel’s High-Performance Xeon Phi coprocessors.

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