Celoxica

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News and announcements

28 Aug 07

CELOXICA HOLDINGS PLC
(“CELOXICA” OR “THE COMPANY”)

IMPLEMENTATION AT TIER 1 US INVESTMENT BANK

Celoxica sees increased demand for Accelerated Computing in Financial Services

Celoxica Holdings plc (AIM: CXA) - a leading provider of electronic system level design technology for the Accelerated Computing and Embedded Systems markets, is pleased to announce progress towards adoption of the Company’s Accelerated Computing products in the Financial Services sector, including a successful proof of concept implementation at a leading US investment bank.

As stated at the time of the Company’s preliminary results in March 07, the Company believes there is a significant market opportunity in the financial services sector for its accelerated computing products and services. This opportunity is being driven by the requirement for companies to accelerate their computing processes, without increasing their need for space or power due to the widely forecast impending datacentre capacity issues.

Celoxica is currently carrying out a paid engagement for a Tier 1 US investment bank to deliver a proof of concept for the Company’s accelerated computing technology. The Company’s FPGA co-processor solution has been installed at the bank to accelerate its mainstream quantitative analysis applications. Results of the study have shown improvements in the power-speed ratio of up to 30 times compared to the bank’s current server technology.

Additionally, a proof of concept is currently being carried out at a large stock exchange to accelerate the exchange’s trade feed processing thus enabling support of increased trade volumes. With trading volumes globally increasing by an average of two times a year, the ability of standard computer infrastructure to keep up with the growth is a problem currently being experienced by Exchanges around the world.

Lee Staines, Chief Executive of Celoxica commented, “We believe that Celoxica’s acceleration solutions can provide a competitive edge in the financial services sector. Most trading applications and front office systems are targeted to achieve important business objectives; best price and fastest analysis to act on market trends whilst using best practice capability and execution. These all need to be achieved with infrastructures that can cope with compute power that far exceeds today’s datacentre capabilities. The results of our recent implementations prove Celoxica’s capability to provide solutions at new levels of performance and at significantly reduced power requirements which will allow banks, brokers and exchanges to achieve new levels of competitive advantage across their key trading applications.”