Quobyte Joins STAC Benchmark Council to help Financial Services Solve Storage Challenges

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Today hyperscale storage provider Quobyte announced that it has accepted an invitation to join the Securities Technology Analysis Center (STAC) Benchmark Council, an influential group of technologists in the finance industry.

Data scientists in this competitive market are constantly developing and testing algorithms and running millions of strategies against many years of historical trading data. These tests require high performance compute nodes and storage systems that can keep up with the insatiable demand to feed many years of historical and modeled data into the algorithms. The workloads are similar to workloads in the High Performance Computing (HPC) space. As such, HPC researchers and supercomputing centers have spent years addressing the evolving compute and storage infrastructure requirements to tackle these ever challenging workloads. Quobyte has solved this challenge for their Financial Services customers by providing hyperscaler advantages to the storage infrastructure with simultaneous parallel file access across hundreds of compute nodes and having the ability to support massive amounts of small files while linearly scaling performance and capacity.

With over 80 petabytes of storage now in production, many of which are implemented at our Financial Services customers’ sites, Quobyte provides massively scalable software storage to allow the industry to take advantage of the insights they can gain from the extensive amount of historical trading data they have collected,” said Björn Kolbeck, Quobyte’s CEO and Co-Founder. “We’ve found that Quobyte storage software running on a cluster of industry standard whitebox servers can significantly reduce time spent on backtesting — literally converting time saved into money.”

The STAC Benchmark Council is a large group of technology experts that seeks to reduce the considerable time and effort the finance industry invests in evaluating technology solutions by developing benchmark standards and enabling dialog. Facilitated by the Securities Technology Analysis Center (STAC), the Council consisting of over 300 financial institutions, ranges from the largest global banks, brokerage houses, and exchanges, to hedge funds, proprietary trading shops, and vendor organizations.

“We are pleased to welcome Quobyte to the STAC Benchmark Council,” added Peter Lankford, STAC’s Founder & Director. “The problems on which Quobyte focuses — the infrastructural and operational challenges of handling big data — are increasingly important challenges for many financial firms.”

Our Financial Services customers’ demanding workloads are similar to challenges our hyperscaler storage software has solved in HPC, Life Sciences, and Media & Entertainment,” continued Kolbeck. “In addition to performance and scale, they need data integrity, responsiveness to changing workloads, easy integration of new assets, and self-healing data availability when network and system failures occur without adding any additional administrative staff. Quobyte is excited to bring this experience to the important work of STAC and the industry leaders the organization has attracted to the STAC Benchmark Council.”

Quobyte will be participating at the STAC Summit, High Technology in Finance, in Chicago, May 7, 2018 and STAC Summit, High Technology in Finance, in New York City, June 13, 2018.

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  1. Munesh Singh Chauhan says

    How is Quobyte leveraging multicore nodes for data storage as well as parallel data access? Are they following some standard opensource algorithm?