Savvis launches Financial Markets Connect
20 June 2006 | 1154 views | 0
SAVVIS, Inc. (NASDAQ:SVVSD), a global leader in IT infrastructure services for business applications, today announced Financial Markets Connect (FMC), a new program designed to support a wide variety of market data participants with SAVVIS' global IT infrastructure and managed financial services.
The company also announced SpryWare, a Chicago-based software company providing ultra low latency, standardized market data in the financial services marketplace, as a charter member of the program.
SAVVIS FMC is designed to provide a total solution including low latency access to direct exchange data, application hosting in SAVVIS' 25 data centers, and data distribution via SAVVIS' global multicast financial network. The program is designed to support high frequency trading applications on both the buy- and sell-sides, ticker plant vendors, and consolidators, to provide them with the hosting and network infrastructure solutions needed to support their financial applications and market data distribution needs. In addition, SAVVIS FMC is well suited for financial institutions and trading systems companies that currently have data delivery solutions in place but are interested in cost savings, performance, and flexibility associated with SAVVIS' hosted delivery model.
Headquartered in Chicago's financial district, SpryWare offers the latest in ultra low-latency, direct market access (DMA) technology. By using expert engineering and innovative technology, SpryWare is able to process and distribute direct market data with latency of less than one-half a millisecond. SpryWare will use FMC to connect market data consumers to the SpryWare Market Information Server (MIS) (TM). Utilizing the FAST Protocol(SM), the SpryWare MIS normalizes direct market feeds and reduces bandwidth usage by up to 90%.
"SAVVIS' Financial Markets Connect allows SpryWare to offer a robust distribution and connectivity option to our clients. Speed and reliability are essential in market data, and SAVVIS delivers both," said SpryWare director Daniel May. "The SAVVIS network allows us to easily reach clients in diverse geographic locations."
"Low latency continues to be a key requirement for the receipt, translation and distribution of market data to consuming applications, but the advent of hosted financial applications and infrastructure solutions are playing increasingly important roles," said Tom Price, Senior Analyst, TowerGroup. "Financial application developers and vendors are now demanding end-to-end infrastructure solutions that combine flexible, low latency network access to direct exchange feeds with global data centers, best-practices operations, security, and professional services enabling increased levels of choice, scalability, and cost savings."
"SAVVIS' Financial Markets Connect provides a total network and hosting solution that can improve the performance of a financial institution's proprietary applications and enable a software vendor to build revenue rapidly," said Michael Cooleen, Vice President & General Manager, Financial Markets Division, SAVVIS. "It is a win-win-win solution as SAVVIS provides ultra-low latency network and hosting services, the application developer delivers innovative functions as a bundled offering, and the end user benefits from a new value-added service that features an optimal support model and a one-stop approach."