Original posting refers to CSF calls for encryption (processing); such
calls generally involve the use of a separate encryption hardware
engine/feature which generally has multiple parallel processing
capabilities that maybe the COBOL code is taking advantage of.  Another
possibility is the ASM version is requesting the key more than necessary
(resides within a system file accessed by ICSF) – try nullifying the CSF
calls and then see which uses the least CPU.

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