ST. LOUIS, MO -- August 22, 2005 – SAVVIS, Inc. (NASDAQ:SVVS), a leading global IT utility provider, announced today that Track Data Corporation (NASDAQ:TRAC), a financial services company that provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors, will use the SAVVIS’ financial extranet for quick and easy access to its Electronic Communications Network, Track ECN.
Under the terms of the agreement, Track Data will use SAVVIS’ financial extranet to access and deliver market data, route orders to other market centers, and the ability to connect with thousands of other subscribers already connected to SAVVIS.
Track ECN has the best published rates--the highest rebate and lowest access fees--in the industry. Currently, Track ECN charges clients $2.50 per thousand shares for removing liquidity directly from its book. Removing liquidity from Track ECN indirectly costs $3.00 per thousand shares.
“When you’re offering a low takeout fee and a high rebate, you need a cost-effective and ubiquitous high-performance extranet like SAVVIS,” said Barry Hertz, Chairman and CEO of Track Data. “In addition, SAVVIS’ relationship with over 4,700 financial institutions is a strong pitch to our potential clients. If they’re already using SAVVIS, they can route their orders directly to Track ECN and take advantage of our $2.50 per thousand takeout fee without signing a subscriber agreement. Just send the order via SAVVIS. With the quick connection time SAVVIS offers, we can tell traders they can start sending orders in days, rather than weeks. That’s a real difference.”
The announcement is the latest in a series of agreements where SAVVIS has been chosen as the network and IT infrastructure for ECNs looking to aggressively compete and fill a void in the current electronic trading marketplace.
“For over 20 years, Track Data has provided mission-critical market data to many of the world’s top traders,” said Matt Fox, Vice President and General Manager of SAVVIS’ Financial Services Division. “Now Track ECN has responded to the market’s demand for fast, secure, and cost-effective trading venues. They are an excellent example of the type of financial services company that can benefit from SAVVIS’ high-performance network and our long-standing relationships with a vast majority of the financial community.”
About Track Data Corporation
Track Data is a publicly traded company (NASDAQ: TRAC) that has been in the financial services business since 1981. Track Data provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors. Among its major products are the direct access trading platforms proTrack, myTrack, and TrackTrade; the PC-based news service NewsWare; and the institutional market data services MarkeTrack, MX-NT, and opTrack.
SAVVIS, Inc. (NASDAQ: SVVS) is a global IT utility services provider that focuses exclusively on IT solutions for businesses. With an IT services platform that extends to 47 countries, SAVVIS has over 5,000 enterprise customers and 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: .
Carter B. Cromley
Ricochet Public Relations
(212) 679-3300 x.111
Track Data Corporation