ATS will focus initially on providing data storage and management services to small and mid-sized businesses at the PHLX site with the intention to offer expanded technical service products throughout the coming year.
ATS has formed a partnership with netEconomist, Inc., a Limerick, Pa.- based technology company, to offer these hosting and outsourcing services.
According to William H. Morgan, the PHLX's executive vice president and chief information officer and president and chief executive officer of ATS, "PHLX saw an opportunity to use its experience in providing high availability systems for the trading of equities and options, and its site-hardened facilities to enter into a service area that is expected to grow to $9.3 billion by the end of 2004."
"We are pleased to be partnering with netEconomist to deliver a complete outsourcing service package. netEconomist's technology and customer service programs are a perfect match for our IT infrastructure capability," stated Morgan.
Under the agreement, ATS will provide the infrastructure, technical support and execution of services while netEconomist will be responsible for the marketing effort, application support, invoicing, and customer service management.
"We look forward to delivering the guaranteed uptime, high availability, superior security, and quality of performance for which the PHLX has become known," stated netEconomist CEO, William J. Patch. "Clients will now have the opportunity to benefit from the world-class PHLX technology infrastructure on a cost-effective basis."
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000 stocks, more than 1,200 equity options, 15 sectors index options and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.
netEconomist Inc. is an independent application provider (IAP) dedicated to providing genuine return on investment in technology for clients. The company develops, delivers, and manages application software, business processes, and networked technology solutions. These include ASP hosted applications, consulting, network engineering, and client support ranging from on-site programs to outsourcing. The company is a fast-growing provider to the higher education, real estate, and IT services markets. www.neteconomist.com.
