Wall Street Systems Selects SAVVIS to Provide IT Infrastructure for Software as a Service (SaaS) Solution
ST. LOUIS, MO — May 3, 2007 — SAVVIS, Inc. (NASDAQ:SVVS), a global leader in IT infrastructure services for business and government applications, today announced an agreement to provide IT Infrastructure, Utility Computing, Network, and Security to Wall Street Systems, a leading provider of global treasury, trading and settlement solutions and services.
Under the terms of the agreement, SAVVIS is providing Wall Street Systems with the data center facilities, servers and storage systems, network backbone, management, and operations underpinning a new, hosted version of their Wallstreet FX trade processing solution known as Wallstreet FX ASP. This new service model transforms Wallstreet FX into a software as a service (SaaS) solution hosted from two of SAVVIS’ highly 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. Wallstreet FX, Wall Street Systems’ flagship application, provides 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.
“SAVVIS’ global IT infrastructure and utility computing services are the perfect match for our SaaS solution,” said Mark Tirschwell, Chief Technology Office of Wall Street Systems. “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.”
“We are pleased that Wall Street Systems trusts SAVVIS to provide IT infrastructure for the Wallstreet FX ASP solution,” said Varghese Thomas, Vice President, Financial Markets, for SAVVIS. “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.
About Wall Street Systems
Wall Street Systems has a 20 year heritage and track record of providing treasury and high performance transaction processing software to the world’s leading financial institutions and corporations. The company has an outstanding reputation for quality and responsive service, and prides itself in helping its clients achieve long lasting benefits and results. Wall Street Systems is best known for providing functionally-rich, integrated and scalable solutions, which improve workflow, control and overall productivity. The company is the market leader in foreign exchange trade processing and is widely recognized for its global back-office solutions. Its award-winning and popular Wallstreet Suite and Wallstreet Treasury products are used by leading 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. For more information, please visit www.wallstreetsystems.com.
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 leads the industry 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 24 data centers, and automated management and provisioning systems. For more information about SAVVIS, visit www.savvis.net.
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act 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. SAVVIS assumes no obligation to update or supplement forward-looking statements.