Market Axess selects Savvis network platform

Market Axess selects Savvis network platform

Market Axess has selected Savvis' Financial Xchange network to deliver its multi-dealer fixed-income trading and research platform to institutional investors worldwide.

Approximately 3000 institutional investors currently use Market Axess to access 80,000 fixed-income research reports and $15 billion in dealer-provided inventory. The platform is backed by ABN Amro, Banc of America Securities, Bear Stearns, BNP Paribas, Credit Suisse First Boston, Deutsche Bank, Dresdner Bank, JPMorganChase, Lehman Brothers, and UBS Warburg.

Under the agreement, Savvis will provide Market Axess with its own private data network, interconnecting its data centres in the United States and the United Kingdom with institutional investor locations in the major global trading centres, including New York, London, Frankfurt, and Paris.

Rachel Moseley, chief information officer at Market Axess, says: "Savvis Financial Xchange provides our clients with a single network solution that combines the performance, reliability, and security of traditional private networks with the global reach and price-performance of the Internet."

The Savvis network uses asynchronous transfer mode (ATM) technology to deliver multiple data applications to users worldwide. Nearly 5000 financial institutions are currently connected to the network.

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