Levyx Technology Selected by FX Market Leader Cobalt for Its Large-Scale Distributed Data Immutability Solution
IRVINE, Calif., March 25, 2019 (GLOBE NEWSWIRE) -- Levyx Inc., whose high-performance, ultra-low latency data processing software simplifies Big Data infrastructure implementations, announced today the signing of a license agreement with London-based fintech, Cobalt. As part of the agreement, Cobalt will utilize Levyx’s Helium™ embeddable data engine for the on-disk storage in Cobalt’s data immutability solution.
Adrian Patten, Co-Founder and Chairman of Cobalt, said: “We are very pleased to have signed an agreement with Levyx to implement Helium. Having tried a number of other providers, Levyx stood out as the leader in this space. With their help we are enabling customers to make any data sets immutable at scale.”
Reza Sadri, CEO of Levyx, said: “We are proud to be a part of Cobalt’s pioneering journey and are confident that they will have a meaningful impact on the future of FX trading. In fact, we see the transition toward distributed and decentralized ways of keeping track of records occurring beyond just the financial industry. Because of this trend, we expect the demand for Helium as an optimizing engine to grow in an expanding number of innovative blockchain applications.”
Cobalt’s requirement involves the storage of billions of transactions in blocks of data across multiple datacenters and customers. Users need to be able to push peak rates of up to two million blocks per second into the system. Integrating with Helium, one of the world’s fastest key value stores that is optimized for flash memory, storage-class memory, and multi-core systems, has enabled the fintech to significantly improve its ingest/access speeds.
Levyx software technologies are hardware-independent and serve as enhancements to or replacements for many of the world’s most popular Big Data / Open Source packages, including RocksDB, Apache Spark, LevelDB, Java Hibernate and Memcached. Levyx’s Helium engine is one of the world’s fastest key value stores and is optimized for flash memory, storage-class memory, and multi-core systems.
A community version of Helium is available at https://helium.levyx.com and Helium is also available for enterprise consumption by contacting firstname.lastname@example.org. A short YouTube video on Helium can be found at http://bit.ly/LevyxHelium.
About Levyx Inc.
Levyx designs high-performance software solutions to accelerate analytic and computational functions of demanding enterprise applications on any storage media or platform. Optimized for the latest hardware innovations, Levyx disrupts the economics of running big data applications and brings the benefits of high-speed data processing to all enterprises. The company’s core value-add is to enable customers to process their massive workloads in real-time at fractions of the cost of competitive solutions. More information is available at www.levyx.com.
Cobalt is a multi-award winning fintech focused on re-engineering the institutional FX market from the ground up. Cobalt is building a shared back and middle office infrastructure to replace the aged technology and inefficient manual processes incumbent in post-trade FX today. Using a unique combination of low latency and shared ledger technology, Cobalt has built a platform that is scalable, secure and fast – slashing cost and risk for the $5tn a day market. This is the future of financial services: signed, sealed, delivered. www.cobaltdl.com
Levyx, the Levyx logo, and Helium are trademarks of Levyx Inc. All other trademarks or brand names referred in this press release are the property of their respective owners.
Levyx Press Contact:Luis Morales(949) 466-2738 email@example.com
Cobalt Press Contact:Michael Deeny/Louis HoganChatsworth Communications firstname.lastname@example.org +44 (0)207 440 9780