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SAVVIS, Inc. (NASDAQ:SVVS), a global leader in IT infrastructure services for financial markets and business applications, today announced that BATS Trading, Inc. (BATS), one of the world’s fastest growing market centers, is being deployed in SAVVIS’ London (Docklands) data center, with live trading on the BATS European equities trading platform to commence later this year.
In just over two years BATS has captured nearly 10% of matched U.S. market share and recently announced plans to enter the European equities market. SAVVIS will work with BATS to help the market center replicate its success in Europe. A key part of the deal will allow BATS’ customers to co-locate their platforms in the Docklands data center and use SAVVIS’ Proximity Hosting solution to further reduce estimated transaction times to microseconds.
“With the advent of the Markets in Financial Instruments Directive (MiFID), there is real demand in Europe for access to global markets and, in order to make international trading successful, we must replicate the same speed and responsiveness we’ve displayed in the U.S.,” said Ken Conklin, senior vice president in charge of business development at BATS. “With our dedication to making markets better while working in tandem with the broker-dealer community, SAVVIS, with its proven experience, is a natural fit for us in Europe.”
BATS selected SAVVIS to support its move into Europe due to its strong heritage in the financial services sector. SAVVIS currently provides managed hosting and networks for a number of the world’s largest financial exchanges, investment banks and hedge funds.
SAVVIS has hosted BATS Trading since its inception in the United States and has provided Proximity Hosting to BATS customers since August of 2007. Its European ECN (Electronic Communication Network) platform for traders and sellers will be hosted in SAVVIS’ recently expanded Docklands data center in London.
The facility will give BATS the capacity for future growth, maintaining the momentum of aggressive expansion it has experienced since launching in 2006. As the SAVVIS data center is in close proximity to London’s financial district, it can make the transaction process faster for algorithmic traders and significantly reduce latency.
“SAVVIS has experienced first hand the rise in demand for more efficient trading in European markets,” said Varghese Thomas, Vice President and General Manager of Financial Markets for SAVVIS. ”The expansion of our facility in the Docklands is in response to this trend, enabling increased capacity and global connectivity. Our combination of secure data centers, managed hosting and high performance networking enables firms to respond quickly to rapidly changing markets.”
