SAVVIS, Inc. (NASDAQ:SVVS), a leading global IT utility provider, announced today that Linedata Services, a leading provider of software and services to the global financial services marketplace, has chosen SAVVIS hosting and network services to deliver Linedata's suite of front-office solutions to the financial services community through their innovative application service provider (ASP) model.
Under terms of the three year agreement, SAVVIS will deploy a comprehensive managed hosting and network services solution for both LongView Trading, the leading multi-asset class order management system (OMS) for the buy side, and for Linedata Compliance, the premier compliance monitoring and risk management system for asset managers.
SAVVIS will provide the managed infrastructure platform, coupling SAVVIS' global private IP network with its highly secure hosting facilities in Boston and Chicago. The SAVVIS solution includes comprehensive network management and and monitoring services along with full disaster recovery services.
"LongView Trading is the industry's first high performance and best of breed OMS delivered in a pure ASP model," said Annie Morris, senior vice president, Linedata Services, Inc. "SAVVIS' well-documented network performance and ultra-secure hosting infrastructure, combined with their pedigree in the financial services sector and continued strong financial performance, made them the clear choice for launching this flagship product to investment managers on a global scale."
Launched in 2003, LongView ASP and Linedata Compliance ASP remain the only true ASP-based front-office offerings available for the institutional financial services marketplace. Linedata Services offers comprehensive IT solutions, drawing on its three complementary areas of expertise: software solutions, systems consulting, and ASP. The company updates, maintains, and hosts remotely-accessed applications while storing data and ensuring IT security and infrastructure. Ultimately, Linedata's ASP approach and powerful software delivers order management, compliance monitoring, and electronic trading without the overhead of building, managing, and maintaining a global technical environment.
"Linedata is the first major buy side OMS vendor to make its product available in a true ASP fashion," said Matt Fox, Vice President and General Manager of SAVVIS' Financial Services Division. "We are pleased to be a part of this exciting initiative by providing Linedata and their clients with a complete hosting, data center, and network solution. The addition of Linedata to our growing community of financial services firms and financial software vendors substantially increases the value of our financial extranet offering. Linedata and SAVVIS together offer a new level of service and performance to LongView Trading users wishing to connect to and trade on the world's leading order management system."