17 June 2013
DataArt Offers OPERA Risk Suite For Smaller Investment Banks
By Zarna Patel
Wall Street and Technology follows up on the news of DataArt partnering with MongoDB and speaks with Oleg Komissarov, SVP at DataArt, about the benefits for smaller financial firms.
‘The partnership between DataArt, a custom software development company, and MongoDB, a NoSQL database provider, will allow DataArt to offer a risk reporting suite for the Open Protocol Enabling Risk Aggregation (OPERA) standard . The new risk reporting suite will be unveiled at the SIFMA Tech 2013 Conference this week at the Hilton in New York. The partnership with 10gen allows DataArt to offer an affordable version of the software to smaller investment banks, according to Oleg Komissarov, Senior Vice President of DataArt. MongoDB technology eliminates the need for large computing hardware investments that are generally needed to evaluate risks.
"The built-in scalability, support of indexes and full query language provided by MongoDB made it the best solution opposed to relational databases," says Komissarov.’