London, United Kingdom – (The Hosting News) – May 30, 2007 – IT infrastructure services for business applications, SAVVIS, has been selected to power Wall Street Systems with an IT infrastructure, for a Software as a Service (SaaS) Solution, including virtualized utility services.
Under the agreement, the Wallstreet FX Trade Processing Solution will utilize SAVVIS’ the data center facilities, servers and storage systems, network backbone, management, and operations underpinning a new, hosted version, of its Wallstreet FX ASP trade processing solution. The new service model transforms Wallstreet FX into a software as a service (SaaS) solution hosted from two of SAVVIS’ secure and geographically dispersed data centers.
The SAVVIS solution integrates hosting and global private IP network and includes comprehensive network management and monitoring services along with a secondary site to assist with Wall Street Systems disaster recovery plans. The SAVVIS infrastructure for Wall Street Systems runs as a SAS 70 Type II environment that assists Wall Street Systems in addressing Sarbanes Oxley and other reporting requirements.
In addition, SAVVIS is providing the secure corporate network for Wall Street Systems to connect offices in eight countries around the world enabling secure data transfers, file sharing, corporate intranet, video conferencing and e-mail.
Mark Tirschwell, Chief Technology Office of Wall Street Systems remarked, ”SAVVIS’ global IT infrastructure and utility computing services are the perfect match for our SaaS solution. With SAVVIS, we can focus our resources on developing software and serving clients rather than on building, financing, and managing an in-house IT infrastructure and operations team.”
Wallstreet FX, Wall Street Systems’ flagship application, is designed to provide high performance, real-time trade processing solutions for currency management. Wallstreet FX supports extremely high trade volumes with significantly reduced transaction costs. In addition, Wallstreet FX offers alerts for management and compliance officers to ensure full transparency and compliance, and a variety of limits can be set to allow clients to manage the actions of traders, limit positions, and reduce risk.
Wall Street Systems SaaS approach allows customers to pay per transaction, rather than pay software license fees upfront. For customers, this also eliminates the need to maintain on-premises equipment or technical expertise. A web portal allows financial institutions and other users to log in via a secured, private network, available to clients around the globe. Delivered via the SaaS model, implementation times for Wallstreet FX can be reduced by more than 50%. The result is that clients can securely process the highest possible number of trades per day at the lowest cost.
Varghese Thomas, Vice President, Financial Markets, for SAVVIS added, ”We are pleased that Wall Street Systems trusts SAVVIS to provide IT infrastructure for the Wallstreet FX ASP solution. Wall Street Systems has 5,300 users in 31 countries processing over 200,000 transactions per day valued at $1.6 trillion. Its business is growing rapidly and we are excited to work with Wall Street Systems knowing that the SAVVIS infrastructure solution will grow with them without requiring significant capital expense typically found in in-house approaches.”
Operating a global network and 24 data centers in the U.S., Europe, and Asia, encompassing approximately 1.4 million square feet, SAVVIS offers customers a variety of flexible and cost-effective IT infrastructure services that can easily be mixed and interchanged. These include a broad portfolio of hosting services, enterprise network solutions, and managed security services. SAVVIS pioneered the industry’s first virtualized IT utility services platform, which delivers on-demand access to server cycles, storage capacity, network bandwidth, traffic management and load balancing.
SAVVIS recently announced plans to build four new data centers that will add nearly 200,000 square feet in Atlanta, the Washington, D.C. area, the San Francisco Bay area, and the New York-New Jersey area.
Wall Street Systems has a 20 year heritage of providing treasury and high performance transaction processing software to leading financial institutions and corporations. Wall Street Systems is best known for providing integrated and scalable solutions, which improve workflow, control and overall productivity. The company provides foreign exchange trade processing and global back-office solutions. Its Wallstreet Suite and Wallstreet Treasury products are used by organizations around the world. Wall Street Systems has 473 employees servicing over 300 banking, corporate and central bank customers, operating out of 12 offices worldwide. Its software processes millions of transactions, aggregating to trillions of dollars every day. Wall Street Systems is a privately held corporation, which is majority owned by Warburg Pincus, a global private equity investor.
SAVVIS, Inc. is a global IT infrastructure service firm for business applications. With an IT services platform spanning North America, Europe, and Asia, SAVVIS has over 5,000 enterprise customers and endeavors to deliver secure, reliable, and scalable hosting, network, and application services. The solutions are designed to enable customers to focus on core business while SAVVIS ensures the quality of IT systems and operations. SAVVIS’ goal is to enlist a strategic approach, combining virtualization technology, a global network with 25 data centers, and automated management and provisioning systems.
To learn more about Wall Street Systems, please visit www.wallstreetsystems.com.
For more information about SAVVIS, please visit: www.savvis.net.