Savvis a global leader in cloud infrastructure and hosted IT solutions for enterprises, today announced that FXall the leading independent electronic foreign exchange platform, has renewed its hosting and infrastructure services agreement with Savvis and will take additional data center space to accommodate client demand and ongoing market growth.
FXall is currently trading at $15.90.
FXall – providing more than 1,000 institutional clients a choice of execution, end-to-end workflow management and straight-through processing – receives hosting services in Savvis’ NJ2 data center complex in Weehawken, N.J. FXall’s customers can colocate in the facility and utilize direct fiber cross connects to establish the lowest latency connections available for trading on the platform. Additionally, FXall connectivity is available across Savvis’ global low-latency network.
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“Hosting our matching engine in Savvis’ data center allows us to streamline the process of connecting to our trading partners and clients to deliver ultra-low-latency connectivity, while leveraging a market-leading IT infrastructure service,” said Steve Rubinow, chief information officer for FXall.
The global foreign exchange market represents average daily turnover of interbank, corporate, institutional and retail trading venues estimated at $4 trillion, which is more than 12 times the average daily turnover of global equity markets combined. Approximately 43 percent of global spot foreign exchange (FX) daily volume is matched on trading engines that are hosted in Savvis data centers, with all key venues in the market within 100 microseconds of a Savvis facility.
FXall reported its average daily trade volume for March 2012 – $90.4 billion.
“With increasing volumes and liquidity within the FX markets, we continue to see strong interest from clients in connecting to FXall,” said Varghese Thomas, global head of financial services for Savvis. “Savvis builds compelling trading ecosystems for our clients, offering connectivity to numerous venues, and we are very proud that FXall continues to choose Savvis as its hosting infrastructure provider.”