PRISM is a highly scalable parallel processing based application using SPAN® (Standard Portfolio Analysis at Risk).
PRISM performs a series of complex mathematical calculations based on Value at Risk (VaR) model. VaR computations are performed when positions change (i.e. when trades take place) or when there is a change in prices. PRISM computes positions and VaR at a client level on a real time basis or in the absence of trade at every second.
PRISM offers the following key functionalities:
- Comprehensive monitoring, control and load balancing of an array of parallel processors
- Provide complete application level fault tolerance. The system monitors all processors and performs auto handover in case of failure of any of the components
- Provide real time information on initial margin value, mark to market profit or loss, collateral amounts, contract-wise latest prices, contract-wise open interest and limits
- Continuously monitors the risk of each trading/clearing member and sends alerts or disablement message to the members through the trading system on risk violations
- Detailed transaction monitoring and control of all processes, load on each process, queue buildup and pending computations
- Open architecture capable of being re-used for any computation intensive activity that can be distributed over an array of parallel processors