Xcelerit wins PRACE industry prize
CTVR spinout honoured at high performance computing event
TechTrade | 18 Apr 2012 :
Xcelerit, a software company spun out of the Science Foundation Ireland CTVR research centre has scooped the industry award from PRACE (Partnership for Advanced Computing in Europe) at the organisation's fourth Industrial Seminar in Bologna, Italy.
The company, which specialises in cross platform acceleration tools for financial services, engineering and scientific research is a campus company at Trinity College and arose out of research carried out within the CTVR telecommunications research centre headquartered there.
PRACE launched the competition to find the "boldest industrial HPC (high performance computing) application" and the judges were looking for a mature application that demonstrated novelty and a clear benefit for industry.
The Xcelerit platform enables users to take existing software written sequentially and very quickly adapt it to take advantage of the compute power that is now available using multi-core technology as well as harnessing the power of graphics processing units (GPUs).
Xcelerit has been targeting the financial services area, where quantitative analysts or ‘quants' are devising new compute-hungry ways to doing risk analysis and pricing of exotic financial instruments, but the techniques have very general applicability.