18 December 2017
visit www.aciworldwide.com

Savvis to provide IT infrastructure services for Boston Options Exchange

13 April 2004  |  649 views  |  0

SAVVIS Communications (NASDAQ:SVVS), a leading global managed IP services provider, today announced that it will provide secured IP VPN connectivity and application services to the Boston Options Exchange (BOX), the new fully electronic U.S.-based equity derivatives market exchange, to connect with its global financial market participants.

"Network connectivity is a priority for BOX as our business depends exclusively on providing efficient, secure, and simple online trading," said Mike Curran, Chief Operating Officer at the Boston Stock Exchange. "SAVVIS' Financial Xchange(SM) will enable our customers to participate in BOX's marketplace through a high-performance, secure, and reliable network connection."

In addition to Financial Xchange connectivity, BOX will also deploy SAVVIS' highly successful FIX Transaction Services (FTS) to deliver electronic orders directly to the BOX. FTS provides a scaleable and cost effective means to provide direct connectivity for order flow without sacrificing performance.

In February 2004, BOX opened with its partners the Montreal Exchange and Interactive Brokers offering traders the opportunity for low-cost trading, an electronic auction feature that guarantees price improvement, and a model that functions without a trading floor. BOX has attracted extensive interest and support in the industry including equity partners Credit Suisse First Boston, UBS, Citigroup and JPMorgan. BOX began trading with more than 60 participants and five classes of shares and will rollout the top 250 options classes over the first 12 weeks following its launch.

BOX's new electronic platform has been fully integrated with SAVVIS' global network infrastructure to provide customers a cost-effective, secure, and reliable connection to the exchange. By utilizing the SAVVIS network, BOX has successfully extended their reach to financial markets in 45 countries. Clients can now easily connect to BOX from any point on the SAVVIS network without engineering and managing complex and costly connections to BOX points of presence in New York, Chicago, and San Francisco.

"SAVVIS is a proven network and hosting provider for the top exchanges, ECNs, and Alternative Trading Systems," said Jack Finlayson, president and chief operating officer of SAVVIS. "We are pleased to assist the BOX in delivering superior network connectivity to its liquidity pool leveraging the reliability, security and performance of SAVVIS services."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.ebaday.comvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11164 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
9847 views comments | 20 tweets | 21 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7707 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7310 views comments | 6 tweets | 26 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7267 views comments | 5 tweets | 11 linkedin

Featured job

London, UK (or flexible)

Find your next job