Fintech PR
Oil And Gas Production Expected to Grow to $8.6 Trillion In 2027 While Ramping Up Growth Over the Next Few Years
FinancialNewsMedia.com News Commentary
PALM BEACH, FL, Aug. 23, 2023 /PRNewswire/ — Oil and Gas extraction is the exploration and production of petroleum and natural gas from wells. The main types are oil & gas upstream activities, oil downstream products. Oil and gas upstream activities include exploration activities, such as creating geological surveys and obtaining land rights and production activities, such as onshore and offshore drilling. The various drilling types include offshore; onshore that are used for residential, commercial, institutions and other applications. A report from the Business Research Company said that: The global oil and gas market grew from $6,989.65 billion in 2022 to $7,330.80 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia–Ukraine (activities) disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The (dispute) between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oil and gas market is expected to grow to $8,670.91 billion in 2027 at a CAGR of 4.3%. Low interest rates in most developed countries will positively impact the oil and gas industry during the forecast period. For instance, in March 2020, UK decreased the interest rates to 0.1% which was the lowest ever. Furthermore, other central banks of countries such as North Macedonia, South Africa, Malaysia, Kenya, Argentina, Ukraine, Sri Lanka, and Azerbaijan, as well as Turkey also decreased their interest rates in 2020.” Active Mining Companies from around the markets with current developments this week include: Trio Petroleum Corp. (NYSE: TPET), Devon Energy Corp. (NYSE: DVN), Occidental Petroleum Corporation (NYSE: OXY), Marathon Oil Corporation (NYSE: MRO), Southwestern Energy Company (NYSE: SWN).
Business Research continued: “Major companies in the oil and gas industry are looking into big data analytics and Artificial intelligence (AI) to enhance decisions making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of refineries, pipelines and other infrastructure through a large number of sensors placed across the oil rig. Using big data analytics, the companies can detect patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows the companies to take better drilling and operational decisions. Companies such as ExxonMobil and Shell have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. Other companies such as Sinopec, a Chinese chemical and petroleum corporation, has announced its decision to construct 10 intelligent centers to help in reducing operation costs by 20%.”
Trio Petroleum Corp. (NYSE American: TPET) BREAKING NEWS: Trio Petroleum Corp Announces Selection of the Monterey Formation Brown Zone as the Second Test Interval at its HV-1 Discovery Well
- The Brown Zone is the Core Reserve Zone to now be tested after exciting production results from its first test in the Mid-Monterey Formation.
- Investor Conference Call today at 4:30PM EST to Discuss Exciting Test Results and Trio’s Future Plans
Trio Petroleum Corp. (“Trio” or the “Company”), a California-based oil and gas company, today announced that the second test interval at the HV-1 discovery well of the South Salinas Project will be the Brown Zone (” Brown Chert “), of the Miocene Age Monterey Formation.
The Brown Zone (aka Brown Chert) and the overlying Yellow Zone (aka Yellow Chert) are the primary reservoir objectives of the HV-1 well and both are attributed oil and gas reserves in the Company’s Reserve Report as filed with the SEC. The first test interval, the Mid-Monterey Clay, is a deeper stratigraphic interval (i.e., below the Brown Chert) that is not attributed oil and/or gas reserves in the Company’s Reserve Report but which, nevertheless, and importantly, appears to potentially be capable of commercial oil and gas production at the HV-1 well. Thus, the Brown-Zone test will be the first test in the HV-1 well of the Company’s reserves as delineated in the Company’s Reserve Report as filed with the SEC.
The current plan is to perforate and acidize (for borehole clean-up) approximately 350 feet of the Brown Zone in an interval from approximately 5,465 to 5,850 feet measured depth and to then test the well via swabbing operations. Operations may commence during the week of August 28, with initial production results estimated one or two weeks thereafter.
The Company believes the Yellow Zone to be the best oil and gas reservoir target in the HV-1 well. It will be tested shortly after the test of the Brown Zone, unless the underlying Brown Zone, and/or the Brown Zone commingled with the Mid-Monterey Clay, is put on production, in which case the test of the Yellow Zone will be put on-hold until an appropriate time.
Trio has scheduled a webinar media interactive call to be held today, Wednesday, August 23 at 4:30PM EST. The following are the details on how to join the conference call:
When: Aug 23, 2023 4:30 PM EST
Link to join the webinar:
https://us06web.zoom.us/webin a r/register/WN_MI3Z_uPwR8OPCH_uC7aVCA
Trio’s CEO, Frank Ingriselli, stated: “We’re delighted by the promising initial results from testing the Mid-Monterey Clay in the HV-1 well. It consistently exhibited impressive swabbing rates, such as 400 to 500 barrels of fluid per day. During the swab runs, oil recovery reached remarkable rates, as demonstrated by the earlier report citing up to 125 BOPD. However, our enthusiasm remains even high er as we prepare to advance to upper depths for testing the Brown Zone. Our aspirations are aimed at achieving even greater yields of oil and gas production, including higher gravity oil. All signs point to a very exciting testing phase ahead.” CONTINUED… Read this and more news for Trio Petroleum at: https://ir.trio-petroleum.com/press-releases/
In other mining industry developments and happenings in the market this week:
WaterBridge NDB LLC, a portfolio company of Five Point Energy LLC , recently announced the formation of NDB Midstream LLC, a strategic partnership with WPX Energy Permian, LLC , a subsidiary of Devon Energy Corp. (NYSE: DVN). The partnership between two technical leaders, WaterBridge NDB within the produced water handling sector and Devon with 50-plus years of innovation in oil and gas, yields the largest private water infrastructure system in the prolific Stateline region of the Delaware Basin in Loving County, Texas and Lea and Eddy counties in New Mexico.
In connection with the transaction, Devon and NDB Midstream entered into a long-term agreement pursuant to which Devon has committed all of its produced water within a large area of mutual interest, including an initial dedication of ~52,000 acres, and contributed to NDB Midstream 18 SWDs with ~375,000 bpd of permitted capacity and ~210 miles of produced water pipelines for gathering, transportation, disposal and reuse. As part of the transaction, Devon received a 30% equity interest in NDB Midstream as well as a commitment by Five Point to fund a portion of the initial build of the system expansion.
Occidental Petroleum Corporation (NYSE: OXY) recently announced that a wholly owned subsidiary has entered into a definitive purchase agreement to acquire all the outstanding equity of Carbon Engineering Ltd. for total cash consideration of approximately $1.1 billion, to be made in three approximately equivalent annual payments, with the first at closing. This transaction is expected to close before the end of 2023, subject to Canadian court reviews, Canadian and U.S. regulatory approvals and other customary closing conditions.
Occidental has been working with Carbon Engineering on direct air capture (DAC) deployment since 2019. Acquiring Carbon Engineering aligns with Occidental’s integrated net-zero strategy and provides Occidental, through its 1PointFive subsidiary, the opportunity to rapidly advance DAC technology breakthroughs and accelerate deployment of DAC as a large-scale, cost effective, global carbon removal solution. Carbon Engineering’s DAC-based climate solutions utilize standardized processes and proven industrial equipment.
Marathon Oil Corporation (NYSE: MRO) recently reported second quarter 2023 net income of $287 million or $0.47 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $295 million or $0.48 per diluted share. Net operating cash flow was $1,076 million or $1,121 million before changes in working capital (adjusted CFO). Free cash flow was $442 million or $531 million before changes in working capital and including Equatorial Guinea(E.G.) distributions and other financing (adjusted FCF).
“Second quarter adds to our track record of consistent execution against our well-established Framework for Success” said Chairman, President, and CEO Lee Tillman. “We built on our return of capital leadership, increasing shareholder distributions to over $430 million during second quarter, including over $370 million of share repurchases. Second quarter financial and operational results were again very strong, highlighted by notable increases to our cash flow, free cash flow, and production relative to the first quarter. We remain on track to deliver against our full year capital spending and production guidance with oil equivalent production trending above the midpoint. In summary, we remain well positioned to continue offering our investors top tier and sustainable free cash flow generation, an advantaged return of capital profile, and differentiated per-share growth with an investment grade balance sheet – all at an attractive valuation. I remain confident that our 2023 business plan is both resilient and compelling across a broad range of commodity prices and that it benchmarks at the very top of both the E&P sector and the S&P 500 on the metrics that matter most.”
Southwestern Energy Company (NYSE: SWN) recently announced financial and operating results for the second quarter ended June 30, 2023. The results were: Generated $231 million net income, $95 million adjusted net income (non-GAAP), $484 million adjusted EBITDA (non-GAAP) and $425 million net cash provided by operating activities; Reported total net production of 423 Bcfe, or 4.6 Bcfe per day, including 4.0 Bcf per day of gas and 106 MBbls per day of liquids; Invested $595 million of capital and placed 50 wells to sales, including 28 in Appalachia and 22 in Haynesville; Reduced full-year capital investment guidance $200 million, or approximately 10%, due to activity reductions, moderating inflation, and operational efficiencies; and Closed divestiture of non-core Pennsylvania Utica assets, applying $123 million of net proceeds to debt reduction.
“Southwestern Energy continues to improve the resilience and free cash flow generation capacity of our business. With our successes mitigating inflationary pressures and driving operational efficiencies, we expect to deliver our 2023 plan with less activity and corresponding investment. Debt reduction remains our top capital allocation priority, which we accelerated with a non-core asset sale. Our disciplined strategy to manage through the commodity price cycle maintains the Company’s financial strength and productive capacity. We are well positioned to increase shareholder value in the supportive longer-term natural gas environment,” said Bill Way, Southwestern Energy President and Chief Executive Officer.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for coverage of Trio Petroleum Corp. news by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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View original content:https://www.prnewswire.co.uk/news-releases/oil-and-gas-production-expected-to-grow-to-8-6-trillion-in-2027-while-ramping-up-growth-over-the-next-few-years-301908255.html
Fintech PR
Bitcoin Price Climbs 3% on US Shutdown and Yields Gloom, But Bitcoin Minetrix Raises $200,000 and Is the Real Winner
NEW YORK, Sept. 29, 2023 /PRNewswire/ — The Bitcoin price is defying macro gloom to put on a 3% gain as it recaptures $27,000, but it is yield-bearing Bitcoin Minetrix ($BTCMTX) that’s raised $200,000 and could be the biggest winner.
Bitcoin, after briefly slipping below $25k last month and struggling to make headway since peaking at 27,431 on September 19th, is threatening to retake that near-term high.
The move higher has been assisted by a confluence of factors and comes despite gathering storm clouds in the stock and bond markets.
Also, although equities had a green session on Thursday, it comes on the back of a negative week.
The S&P500 has fallen from 4,452 to 4,296, and the Nasdaq Composite slid 500 points, from 13,714 to 13,200. Meanwhile, US 10-Year Treasury yields continue their march higher, now at 4.66%.
And then there is US interest rates at 5.25-5.5% despite the Fed pause, making all risk assets look less attractive, plus a surging US dollar to factor in too.
Bitcoin teasing that it is a safe haven play after all?
Markets worry that US inflation will be stickier than hoped and that a soft landing could be for the birds. The weakening of the narrowly based bullish sentiment that has seen the Nasdaq make a 20% advance this year, has been evident for a few weeks now.
Fed chairman Jerome Powell’s speech on Thursday has done little to calm nerves.
The past few days have seen the gloom merchants come to the fore as a shutdown of the government looms and the real estate debt crisis deepens in China.
But the past few days have seen the gloom merchants come to the fore as a shutdown of the government looms and the real estate debt crisis deepens in China.
Against this backdrop, Bitcoin appears to be gaining in strength, although it is too early to say whether some safe-haven inflows are behind the improvement.
But when the ratings agencies start to talk about US debt losing its top-tier rating, fears of a recession mounting, the auto industry strike spreading, oil prices heading back to $100, and core inflation remaining as sticky as ever, the green shoots in the Bitcoin market are even more noticeable.
Add to the mix that good news for Coinbase – it needs some – came when it received permission to offer crypto futures trading to its non-US customers.
US competitor exchange Kraken announcing it planned to open its door to stock traders may have added to the positive vibes, although that development could be read as a sign of desperation on Kraken’s part as it scrabbles around for revenue.
What’s good for Bitcoin is good for crypto, and especially Bitcoin derivative coins like Bitcoin Minetrix
Bitcoin remains the bellwether of the crypto industry, so generally speaking, there tends to be a positive correlation between it and all other assets.
However, that correlation is magnified for so-called Bitcoin derivative and clone coins, of which Bitcoin Minetrix is the latest of the crop.
When Bitcoin does well, so do the likes of longstanding forked clones like Bitcoin Cash and Bitcoin SV, as well as new upstarts such as the HPOS10I (BITCOIN) meme coin, Bitcoin 2.0 and BTC20.
Bitcoin Minetrix is different from all those aforementioned coins though, because of its tangible connection with the Bitcoin network.
Its use case is to contribute to the hash power of the network by marshaling the collective might of retail investors – or stakers – to earn credits that can then be deployed in cloud mining Bitcoin.
Bitcoin Minetrix is the first stake-to-mine platform in crypto. There are certainly plenty of cloud-mining outfits out there, but none are fully decentralized. BTC Minetrix’s unique selling point is in effectively tokenizing cloud mining and harnessing the many advantages that it gives it over competitors.
https://twitter.com/bitcoinminetrix/status/1707002226898559469
Bitcoin Minetrix banishes fraudsters, makes mining Bitcoin cheaper and safer for all
With Bitcoin Minetrix there is no need to worry about fraud because everything is handled on-chain, and no cash changes hands.
Bear in mind, too, that Bitcoin Minetrix’s smart contract is fully audited by Coinsult – it passed with no major issues.
Smart contract automation makes withdrawal of funds super easy, as does earning credits and empowering individual stakers to decide how much mining they want to engage in and when.
Bitcoin Minetrix takes the complication and expense out of mining. You don’t need to understand how difficulty is calculated or how to keep your client software up to date.
What’s more, there’s no need to make a considerable capital outlay and be exposed to the risk of making a loss on your business undertaking.
Better than Bitcoin because Bitcoin Minetrix is a yield-bearing hedge where you can reinvest mining profits
But where does the Bitcoin and Macro interplay come into the picture, you might ask? Well, it comes down to bond yields.
Rising bond yields make non-yield-bearing assets less appealing. At the present time, lenders are demanding a higher return for buying US government debt. Among the biggest holders of US debt is China. Given the geopolitical uncertainties and tension, that relationship may not end well.
The price of bonds, which move inversely to yields, are going down because there are fewer buyers when inflation is high, cutting into fixed-income asset returns.
Now consider the economics of Bitcoin Minetrix. While Bitcoin has no yield-bearing property, Bitcoin Minetrix does.
However, in addition to token stakers earning a yield paid out of the tokens allocated for community rewards, they also earn credits that are then invested in cloud mining bitcoin.
https://twitter.com/bitcoinminetrix/status/1706639837304881263
Bitcoin Minetrix is in essence reinvesting dividends, the most powerful mechanism for wealth creation in finance.
Against the backdrop of rising yields, stocks, and in particular higher-risk growth stocks, become a riskier proposition, which is why the smart money looks for opportunities to lock in income streams.
Still, you don’t just want any old bond – Treasury Inflation Protected Securities (TIPS) are the ones to hold because they are index-linked.
But you could go one better and hold BTCMTX token and get an income stream plus capital appreciation and a built-in mechanism that reinvests your dividends.
Bitcoin Minetrix tokens do not have the indexation of TIPS, but arguably, they achieve pretty much the same thing via staking and cloud mining.
And if you just want a safe way to get into Bitcoin mining and all the rest is just cherry on the cake, then Bitcoin Minetrix really is the standout solution. Crypto analyst Michael Wrubel told his 300k YouTube subscribers pretty much exactly that in his latest video.
How to buy Bitcoin Minetrix ($BTCMTX)
Stake-to-mine innovator Bitcoin Minetrix is in phase 1 of its four-part roadmap. After the presale phase, the other three phases commence, encompassing development, launch, and mass adoption.
Although not scheduled until phase 2 and 3, talks with cloud providers and work on the stake-to-mine dashboard for app and desktop has already started.
To buy the $BTCMTX token you will need ETH, USDT, BNB or a bank card. If you plan to purchase with ETH you can start staking-to-earn straightaway.
Notes for editors
Website: https://bitcoinminetrix.com
Social Channels: Twitter | Discord | Telegram Community
Presale stages:
|
Presale Stage |
Token Price |
Percentage |
Amount of Tokens |
USD Value |
|
Phase 1 |
$0.01100000 |
10 % |
280,000,000 |
$3,080,000 |
|
Phase 2 |
$0.01110000 |
10 % |
280,000,000 |
$3,108,000 |
|
Phase 3 |
$0.01120000 |
10 % |
280,000,000 |
$3,136,000 |
|
Phase 4 |
$0.01130000 |
10 % |
280,000,000 |
$3,164,000 |
|
Phase 5 |
$0.01140000 |
10 % |
280,000,000 |
$3,192,000 |
|
Phase 6 |
$0.01150000 |
10 % |
280,000,000 |
$3,220,000 |
|
Phase 7 |
$0.01160000 |
10 % |
280,000,000 |
$3,248,000 |
|
Phase 8 |
$0.01170000 |
10 % |
280,000,000 |
$3,276,000 |
|
Phase 9 |
$0.01180000 |
10 % |
280,000,000 |
$3,304,000 |
|
Phase 10 |
$0.01190000 |
10 % |
280,000,000 |
$3,332,000 |
- Soft Cap – $15.6M – 1,400,000,000 Tokens
- Hard Cap – $32M
- Ethereum
- ERC-20
- $BTCMTX
- Starting Price – $0.011
- Presale Starting Date – 26/09/2023
- Minimum Buy – $10
Photo: https://mma.prnewswire.com/media/2235370/Bitcoin_Minetrix.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bitcoin-price-climbs-3-on-us-shutdown-and-yields-gloom-but-bitcoin-minetrix-raises-200-000-and-is-the-real-winner-301943232.html
Fintech PR
Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
About Webb
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
Noteworthy Features
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
What’s Next?
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Whitepaper: Read here.
- Get Started: PolkadotApps for Tangle Network
- Documentation: docs.webb.tools
Get Involved
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
Contact Us
For media inquiries, partnerships, or more information, email us at [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/webb-unveils-tangle-network-testnet-pioneering-the-future-of-private-decentralized-applications-301940846.html
Fintech PR
AMD Unveils Purpose-Built, FPGA-Based Accelerator for Ultra-Low Latency Electronic Trading
— New AMD Alveo fintech accelerator card provides trading firms and brokerages with breakthrough trade execution performance at nanosecond speed and AI-enabled trading strategies —
— Solution partners Alpha Data, Exegy and Hypertec add to growing ecosystem of ultra-low latency solutions for fintech market —
LONDON, Sept. 29, 2023 /PRNewswire/ — AMD (NASDAQ: AMD) today announced the AMD Alveo™ UL3524 accelerator card, a new fintech accelerator designed for ultra-low latency electronic trading applications. Already deployed by leading trading firms and enabling multiple solution partner offerings, the Alveo UL3524 provides proprietary traders, market makers, hedge funds, brokerages, and exchanges with a state-of-the-art FPGA platform for electronic trading at nanosecond (ns) speed.
The Alveo UL3524 delivers a 7X latency improvement over prior generation FPGA technology1, achieving less than 3ns FPGA transceiver latency2 for accelerated trade execution. Powered by a custom 16nm Virtex™ UltraScale™+ FPGA, it features a novel transceiver architecture with hardened, optimized network connectivity cores to achieve breakthrough performance. By combining hardware flexibility with ultra-low latency networking on a production platform, the Alveo UL3524 enables faster design closure and deployment compared to traditional FPGA alternatives.
“In ultra-low latency trading, a nanosecond can determine the difference between a profitable or losing trade,” said Hamid Salehi, director of product marketing at AMD. “The Alveo UL3524 accelerator card is powered by the lowest latency FPGA transceiver from AMD—purpose-built to give our fintech customers an unprecedented competitive advantage in financial markets.”
Hardware Flexibility and AI-Enabled Trading Strategies
Featuring 64 ultra-low latency transceivers, 780K LUTs of FPGA fabric, and 1,680 DSP slices of compute, the Alveo UL3254 is built to accelerate custom trading algorithms in hardware, where traders can tailor their design to evolving strategies and market conditions. Supported by traditional FPGA flows using Vivado™ Design Suite, the product comes with a suite of reference designs and performance benchmarks that allow FPGA designers to quickly explore key metrics and develop custom trading strategies to specification, backed by global support from AMD domain experts.
To simplify the increasing adoption of AI in the algorithmic trading market, AMD is providing developers with the open-sourced and community-supported FINN development framework. By using PyTorch and neural network quantization techniques, the FINN project enables developers to reduce the size of the AI models while retaining accuracy, compiling to hardware IP, and integrating the network model into the algorithm’s datapath for low latency performance. As an open-source initiative, the solution gives developers flexibility and accessibility to the latest advancements as the projects evolve.
Enabling a Growing Ecosystem of Ultra-Low Latency Fintech Solutions
The Alveo UL3524 and purpose-built FPGA technology are enabling strategic partners to build custom solutions and infrastructure for the fintech market. Currently available partner solutions include offerings from Alpha Data, Exegy, and Hypertec.
The AMD Virtex™ UltraScale+ VU2P FPGA powering the Alveo UL3524 accelerator card is enabling ultra-low latency appliances from Alpha Data.
“The new Virtex UltraScale+ FPGA from AMD brings a step change to ultra-low latency trading and networking,” said David Miller, managing director of Alpha Data. “We’ve developed the ADA-R9100 rack-mount appliance which allows customers to easily access the full potential of the new AMD FPGA device.”
Exegy, a provider of end-to-end, front-office trading solutions, is supporting the Alveo UL3524 card with its nxFramework, a software and hardware development environment tailored for creating and maintaining ultra-low latency FPGA applications within the financial industry.
“By combining the pioneering ultra-low latency FPGA technology from AMD with Exegy’s expertise in capital markets, we’re able to deliver a comprehensive solution that addresses the ever-increasing optimization needed to build the trading infrastructure of tomorrow,” said Olivier Cousin, director of FPGA solutions at Exegy.
Hypertec has optimized its ORION HF X410R-G6 High Frequency Server for the Alveo UL3524 with a custom cooling system to deploy in a 1U server form factor.
“The engineers at Hypertec specifically designed the HF X410R-G6 to extract the best out of the capabilities and speed of the Alveo UL3524 platform, catering our solution to the most demanding low-latency tasks,” said David Lim, director of product marketing, Hypertec.
The AMD Alveo UL3524 accelerator card is currently in production and shipping to global financial services customers.
Supporting Resources
- Learn more about the Alveo UL3524 accelerator card
- Become a fan of AMD on Facebook
- Follow AMD on Twitter
About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics, and visualization technologies. Billions of people, leading Fortune 500 businesses, and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work, and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn, and Twitter pages.
AMD, the AMD Arrow logo, Alveo, Virtex, Vivado and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.
1 Testing conducted by AMD Performance Labs as of 8/16/23 on the Alveo UL3524 accelerator card, using Vivado™ Design Suite 2023.1 and running on Vivado Lab (Hardware Manager) 2023.1. Based on the GTF Latency Benchmark Design configured to enable GTF transceivers in internal near-end loopback mode. GTF TX and RX clocks operate at same frequency of ~644MHz with a 180 degrees phase shift. GTF Latency Benchmark Design measures latency in hardware by latching value of a single free running counter. Latency is measured as the difference between when TX data is latched at the GTF transceiver and when TX data is latched at the GTF receiver prior to routing back into the FPGA fabric. Latency measurement does not include protocol overhead, protocol framing, programmable logic (PL) latency, TX PL interface setup time, RX PL interface clock-to-out, package flight time, and other sources of latency. Benchmark test was run 1,000 times with 250 frames per test. Cited measurement result is based on GTF transceiver “RAW Mode”, where PCS (physical medium attachment) of the transceiver passes data ‘as-is’ to FPGA fabric. Latency measurement is consistent across all test runs for this configuration. System manufacturers may vary configurations, yielding different results. ALV-10
2 Based on simulation comparison between Virtex UltraScale+ GTY transceivers and ultra-low latency GTF transceivers.
View original content:https://www.prnewswire.co.uk/news-releases/amd-unveils-purpose-built-fpga-based-accelerator-for-ultra-low-latency-electronic-trading-301943169.html
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Fintech PR2 weeks agoStockings shift toward subscriptions this holiday season for UK shoppers, according to Recurly research
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Fintech PR2 weeks agoMAX Exchange and Bitget announce strategic partnership, marking MAX Token’s debut on an international exchange
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Fintech PR2 weeks agoIngenico and Diggecard announce a comprehensive gift card solution for acquirers using PPaaS, Ingenico’s Payments Platform as a Service