Hadoop on EC2 July 20, 2007
Posted by James Webster in : software, finance , trackbackA while ago I suggested that Hadoop and Amazon EC2 could be used to construct an open source derivatives risk pricing grid platform as an alternative to commercial offerings such as Datasynapse or Digipede. Well now there is a tutorial for running Hadoop on EC2 (via Andrew Newman’s More News). Between this and EC2’s upcoming support for paid AMIs there might be a business opportunity to set up a ‘Software as a Service’ risk management offering for hedge funds; Map/Reduce and the elastic response of EC2 ought to allow the numbers behind complicated trades (magic potion passport options anyone?) to be crunched quickly. I still feel that multicast IP will be an important feature for Amazon to add to EC2 to properly support grid distribution of processing and caching.
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