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Monte Paschi Asset Management to Build its New Enterprise Data Grid on Top of GigaSpaces

GigaSpaces to enable extreme low latency and end-to-end scalability for Milan and Dublin sites.

New York, NY – GigaSpaces Technologies, a leading provider of infrastructure software that enables on-demand scalability for high-performance transactional applications, announced today that Monte Paschi Asset Management, one of the leading asset management firms in Europe, has selected GigaSpaces’ grid-based application platform.

Monte Paschi Asset Management selected GigaSpaces Enterprise Edition product to serve as the underlying middleware for its “Piattaforma Unica” (Unique Platform), the new Enterprise bus that integrates all existing data providers with data consumers.

GigaSpaces’ distributed shared memory infrastructure enables Monte Paschi Asset Management’s data consumers to write requests and read responses from data providers in milliseconds, as well as notify data consumers of real-time changes to the data. The product’s dynamic service deployment capability, the Service Grid, is especially useful in allowing MPS to scale out its application services such that low transaction-latency is guaranteed even under extreme data volumes.

“Dynamically deploying services throughout our network was one of our key requirements, and GigaSpaces Service Grid was the perfect fit for our needs,” said Alberto Santini, Head of Development at Monte Paschi Asset Management. “With GigaSpaces, we have no worries of fluctuating loads as we can add or remove resources when needed, while running our applications simultaneously.”

“We are pleased that our product was able to meet Monte Paschi Asset Management’s tough requirements for supporting high transaction volumes, low-latency and dynamic scalability,” said Alan Weisleder, EVP Sales International at GigaSpaces, “We are delighted to have Monte Paschi Asset Management join our rapidly growing customer base in financial services.”

About Monte Paschi Asset Management Sgr
Monte Paschi Asset Management Sgr (MPAM Sgr) is the fund management company of Gruppo MPS which has incorporated, since 2002, Ducato Gestioni, G.I.Gest and Spazio Finanza, three fund management companies operating in the Italian financial market for many years.
In March 2002 the company entered the “alternative investments” sector, establishing MPS Alternative Investments, while at the beginning of 2003, through an Irish based investment company – MPS Asset Management Ireland Ltd – it entered the quantitative management market. With more than 44 billion Euros of total managed assets, MPAM Sgr is one of the leading players in the Italian market.

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About GigaSpaces
GigaSpaces provides innovative, high-performance infrastructure software solutions that deliver unparalleled dynamic scalability for high-volume transactional applications, without the overhead and complexity inherent in traditional multi-tier development and deployment environments.
Its award-winning solutions have been adopted across multiple vertical industries and are used by companies such as Societe Generale, Nortel, Hutchison 3G, Virgin Mobile, FXall and others for mission-critical applications, where the need for extreme performance, reliability and scalability necessitates an alternative to traditional tier-based architectures.
GigaSpaces was founded in 2000 and has offices in New York, London and Israel, it is a privately held company, funded by BRM Capital, Formula Vision and Intel Capital. GigaSpaces is an affiliated company of the Formula Group (NASDAQ: FORTY), Israel’s largest publicly held IT group.

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Editorial Contact:
Ziv Leshem
GigaSpaces Technologies, Inc.
Tel:+1 (646) 421 2830
Giulia Mutschlechner
Monte Paschi Asset Management Sgr
Tel: : +39 02 43828 279