HERNDON, VA, August 26, 2003 — Investment Technology Group, Inc. (NYSE:ITG), a leading global financial services company, in an effort to establish a more flexible technology infrastructure, has awarded global managed IP services and managed hosting provider SAVVIS Communications (NASDAQ: SVVS) with a contract to build and manage its enterprise data network in nine countries.
ITG, a leading provider of technology-based equity-trading services and transaction research to institutional investors and brokers, realized back in the mid-1980s that technology was the future of trading. ITG will use SAVVIS’ Intelligent IP NetworkingSM to deliver new ERP applications to its offices and to facilitate inter-office connectivity to accommodate global portfolio trading. ITG’s lines of business include:
· POSIT®, the premier low-cost, confidential alternative trading system that anonymously matches buyers and sellers 14 times a day.
· Client-site Trading Products, which provide direct, one-point desktop access to ITG tools for analyzing costs, electronically transmitting orders to over 75 liquidity sources and tracking the status of trades, and
· Electronic Trading Desk, one of the leading program trading operations in the United States which helps customers achieve best execution, via advanced trading strategies, pre-trade analysis tools, and post-trade, transaction-cost measurement products.
To replace ITG’s legacy frame relay network, SAVVIS is rolling out a global private network to connect ITG’s multiple offices in: New York, Boston, Los Angeles, Toronto, London, Dublin, Tel Aviv, Hong Kong, Sydney and Melbourne. SAVVIS is providing all the engineering, provisioning, and implementation as well as ongoing management and customer support. SAVVIS network solutions are unique in the industry in that they were built from the ground up to deliver the availability, security, and real-time performance demanded by the financial services industry.
“IP connectivity is increasingly becoming a commodity these days,” said David Meitz, Managing Director of Technology at ITG. “SAVVIS stands out by using technology to deliver an end-to-end, fully-managed network service that is significantly more flexible and scalable than traditional frame relay networks. In addition, SAVVIS’ service and support is extremely customer oriented. We were looking for a partner, not just a vendor, and we found it with SAVVIS.”
“ITG has a long and distinguished history of using technology to empower investors through robust access to liquidity and through powerful, cost-effective trading services,” said Jack Finlayson, president and chief operating officer of SAVVIS. “We are proud that ITG has selected SAVVIS to deliver the technology infrastructure and services to enable ITG to expand its business around the globe.”
ITG is headquartered in New York with offices in Boston, Los Angeles, Dublin, Hong Kong, London, Melbourne, Sydney, Tel Aviv and Toronto. As a leading provider of technology-based equity-trading services and transaction research to institutional investors and brokers, ITG services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. ITG generates superior trading results for its clients through three lines of business. POSIT®, the world’s largest equity matching system, allows clients to trade confidentially. The Electronic Trading Desk is recognized as one of the leading program trading operations in the U.S. ITG’s leading-edge Client Site Trading Products allow users to implement their own trading strategies by providing direct electronic access to most sources of market liquidity. For additional information, visit http://www.itginc.com.
SAVVIS Communications (NASDAQ: SVVS) is a leading managed services provider that delivers IP VPNs (virtual private networks), hosting, and application services to businesses. SAVVIS solutions are designed for industries with demanding information technology requirements including legal, media, retail, professional services, healthcare, manufacturing, and financial services.
Known as The Network that Powers Wall StreetSM, SAVVIS was ranked #3 in IP VPN market share by IDC in its 2003 report, trailing only AT&T and MCI/WorldCom, and its network reliability was declared “perfect” in Network World magazine's groundbreaking study of backbone performance. SAVVIS recently won the first ever American Business Awards “Stevie”TM in the category of “Best Customer Service Organization.” SAVVIS’ managed hosting services were awarded the Service Provider Excellence Award by Boardwatch magazine for its virtualized approach to managed hosting, and the Market Engineering Award from Frost & Sullivan for product differentiation and innovation.
For more information about SAVVIS’ Intelligent IP NetworkSM and managed hosting solutions, visit: .
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