Printer Friendly
The Free Library
22,741,889 articles and books

Savvis Expands Low Latency Connectivity Offerings Globally.



New Connectivity Options with Major Financial Exchanges and Liquidity Venues Expands Low Latency Connectivity Footprint to More Than 200 Execution Venue Feeds Globally

NEW YORK -- Building on its position as a leading provider of low latency IT infrastructure services for financial markets, Savvis, Inc. (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: SVVS SVVS Savvis, Inc (stock symbol)
SVVS Surrey Vintage Vehicle Society (UK)
SVVS Unix System V Verification Suite
SVVS System V Verification Suite
) today announced new connectivity options with major financial exchanges, electronic communications networks (ECNs) and liquidity venues spanning the U.S., Europe and Asia.

The new connectivity options expand Savvis' portfolio of secure, high-availability, low latency connectivity to hundreds of exchange feeds around the world from major exchange companies such as NYSE Euronext[R], NASDAQ OMX Group NASDAQ OMX Group is the tentative name for the combined entity resulting from the pending merger of The NASDAQ Stock Market, Inc. and OMX AB. Its headquarters will be located in New York. , Inc., BATS, CME CME

See: Chicago Mercantile Exchange


CME

See Chicago Mercantile Exchange (CME).
 Group and the London Stock Exchange London Stock Exchange

London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses.
.

"Savvis is a leader in the provision of market data and trading connectivity," said Randall Hopkins, Vice President, NASDAQ OMX Global Data Products. "Savvis' continued service expansion demonstrates their commitment to providing low latency, fully managed connectivity to key pools of liquidity around the world."

The expansion is in response to growing customer demand for low latency connectivity solutions and demonstrates Savvis' commitment to investing in financial IT infrastructure that can deliver a wide variety of low latency connectivity to the world's leading exchanges.

Low latency Metro Ethernet network and Proximity Hosting solutions may provide a key competitive advantage for financial market participants In order to understand the financial markets it is important to identify those that participate in them. There are two basic financial market participant categories, Investor vs. Speculator and Institutional vs. Retail.  with algorithmic trading requirements. TABB Group, the financial markets research and consulting firm, estimates that if a broker's electronic trading platform is five milliseconds behind the competition, it could lose up to one percent of its flow - that is approximately $4 million (2.3m) lost in revenues in milliseconds1.

"Through multiple platforms and unique order types, Direct Edge matches complementary forms of liquidity based on sensitivity to transaction cost, fill rate, fill speed, and contra-side sophistication so·phis·ti·cate  
v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates

v.tr.
1. To cause to become less natural, especially to make less naive and more worldly.

2.
 while maintaining high execution quality," said Bryan Harkins, Direct Edge Head of Sales and Strategy. "Savvis' IT infrastructure and low latency network access helps facilitate our model of creating opportunities for the trading community unlike any other market center."

Savvis provides three levels of low latency connectivity to major financial exchanges and liquidity venues. These are fully integrated with Savvis' global IT infrastructure featuring high performance managed network, servers, storage and security.

* Savvis Community of Interest Network (COIN) - low latency exchange connectivity via Savvis' private, managed global financial network.

* Savvis Exchange Express (SEE) - lower latency exchange connectivity via Savvis' private, managed global financial network with direct connections to each exchange via Metro Ethernet.

* Savvis Proximity Hosting (SPH sph
abbr.
spherical lens
) - lowest latency connectivity between exchanges and their customers' automated trading systems, via colocation of both sets of infrastructure typically within a Savvis data center.

Today's announcement outlines Savvis' new connectivity options for the following:

U.S.

* BATS Exchange, which already provides low latency connectivity to the fast-growing BATS trading platform via Savvis Proximity Hosting and Exchange Express, has added a disaster recovery location featuring connectivity via Savvis Exchange Express and Savvis COIN.

* CME Group's FIX Adapted for Streaming (FAST) is a new protocol being adopted by many Exchanges to optimize bandwidth and further reduce latency. CME Group, which already provides low latency access via Savvis Proximity Hosting, will now add FAST on SAVVIS' COIN making it available globally. In addition to feeds for CME and CBOT See Chicago Board of Trade.

CBOT

See Chicago Board of Trade (CBOT).
 products, Savvis' CME Group feed features new connections to the New York Mercantile Exchange New York Mercantile Exchange (NYMEX)

The world's largest physical commodity futures exchange.
 (NYMEX See New York Mercantile Exchange.

NYMEX

See New York Mercantile Exchange (NYM).
), the Kansas City Board of Trade Kansas City Board of Trade (KCBT)

The U.S.-based futures and options exchange for no. 2 red wheat futures and, options, Value Line Index futures and Mini Value Line futures and options.
 (KCBOT KCBOT Kansas City Board of Trade ) and the Minneapolis Grain Exchange The Minneapolis Grain Exchange (MGEX) was formed in 1881 as a cash market for grains. The exchange launched its first futures contract, hard red spring wheat two years later.  (MGEX).

* Direct Edge, both Direct Edge platforms (EDGX and EDGA) can now be accessed in the New York metro For the region, see .

Metro New York is a free daily newspaper in New York City started in 2004. Its main competition is AM New York, with which it practices many of the same distribution and marketing strategies.
 area via SAVVIS Exchange Express and globally via Savvis COIN.

* NASDAQ OMX is now available via SAVVIS Exchange Express from one of Savvis' New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City.  data centers. NASDAQ Global Index Services(SM) will soon be available via SAVVIS Exchange Express from one of Savvis' New York metropolitan area data centers.

Europe

* BATS Europe, which already provides low latency connectivity via Savvis Proximity Hosting and Exchange Express from data centers in London, is now available globally via Savvis COIN.

* Chi-X Europe will soon be available in the London metro area via Savvis Exchange Express and globally via Savvis COIN.

* London Stock Exchange (LSE LSE - Language Sensitive Editor ) Performance Channels are high speed delivery mechanisms that increase the rate at which data can be sent out to the market. Performance Channels are of particular benefit to customers who need to have the lowest latency connectivity to the Exchange during peak trading periods. The service offers a reduced latency, high speed delivery mechanism, which increases the throttles that are necessary on Service Channels to provide a managed service. It is now available in London via Savvis Exchange Express and globally via Savvis COIN.

* NASDAQ OMX Europe is NASDAQ's new Multilateral Trading Facility (MTF (1) (Modulation Transfer Function) A measurement of monitor sharpness. MTF compares the contrast ratio between alternating black and green lines that are one pixel thick. ) in London. It will soon be available in London via Savvis Exchange Express and globally via Savvis COIN

Asia

* Singapore Exchange (SGX), which already provides low latency direct access via Savvis Proximity Hosting, is now available in Singapore via Savvis Exchange Express.

"We are focused on understanding our customers existing and evolving IT infrastructure and market data needs particularly in today's volatile marketplace," said Varghese Thomas, Savvis Vice President, Financial Services Business Unit. "We are committed to delivering a broad portfolio of cost effective, scalable, and managed financial offerings that optimize bandwidth and reduce latency and ultimately enhance the investment strategies of our customers."

To see the complete list of Savvis low latency connectivity options to more that 200 exchanges and feeds, visit: www.savvis.net, http://financial.savvis.net/ or http://www.savvis.net/NR/rdonlyres/4A0B69ED-13B3-4B40-90DC-6AEE1D6BA4B0/0/FinancialFeedsMatrix.pdf.

About Savvis

Savvis, Inc. (NASDAQ: SVVS) is a global leader in IT infrastructure services for business applications. With an IT services platform spanning North America, Europe, and Asia, Savvis is an industry leader in delivering secure, reliable, and scalable hosting, network, and application services. These solutions enable customers to focus on their core business while Savvis ensures the quality of their IT systems and operations. Savvis' strategic approach combines virtualization technology, a global network and multiple data centers, and automated management and provisioning systems. For more information about Savvis, visit: http://www.savvis.net

Savvis Forward-Looking Statements

This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Actual results may differ materially from Savvis' expectations. Certain factors that could affect actual results are set forth as risk factors in Savvis' SEC reports and filings, including its annual report on Form 10-K and all subsequent filings as well as the risk that potential product cost and performance benefits may not be realized for any particular customer. Savvis assumes no obligation to update or supplement forward-looking statements.

1 The Value of a Millisecond: Finding the Optimal Speed of a Trading Infrastructure - TABB Group, April 2008
COPYRIGHT 2008 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 17, 2008
Words:1119
Previous Article:Ciena Enhances Network Flexibility and Efficiency at Northwestern University.
Next Article:Evans Bancorp, Inc. to Present at The Wall Street Analyst Forum.
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters