Cowen Group selects open source database from Ingres

Cowen Group, a US-based investment bank, has selected Ingres Database, an open source database that helps organizations develop and manage business critical applications at an affordable cost.

Cowen Group has reportedly selected Ingres for cost efficiency, projected ROI, and product reliability.

Ingres has said that it will act as the backbone of Cowen's program trading client portal project, which will provide trading customers with online access to financial information.

Daniel Flax, chief information officer at Cowen Group, said: "We have been closely monitoring our costs and looking at every opportunity to be more cost effective. We are excited to initiate the program trading portal project with Ingres, which is known for its ability to work under pressure in mission critical environments.

"During our selection, we determined that no other database, proprietary or open source, would give us the reliability that Ingres provides. In addition, as an open source solution, we'll experience tremendous cost savings and an ROI that we can immediately show the business."

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