|Neovest Selects SunGard for Co-location and Direct Market Data Connectivity|
Monday June 9, 4:30 pm ET
MT LAUREL, N.J.--(BUSINESS WIRE)--June 9, 2003--SunGard Market Data Services, an operating group of SunGard (NYSE: SDS), announced today that Neovest, Inc., a leading provider of front-end direct access trading technology and strategies, has selected SunGard's integrated market data and co-location services to host and feed its applications with SunGard PowerData market data.
Neovest's direct access technology allows the buy- and sell-side communities to leverage a comprehensive, tightly integrated suite of pre-trade analytics and advanced order entry functionality to achieve best execution within today's fast-paced and fragmented electronic markets. By co-locating its applications servers at SunGard Market Data Services' resilient Mt. Laurel, New Jersey data center, Neovest's applications have access to exchange data and market information at the source, reducing data latency as well as networking and bandwidth costs. SunGard Market Data Services' network infrastructure offers multi-redundant delivery paths, helping to achieve full fault tolerance and protection.
"Speed, reliability and stability were key factors in our decision to host with SunGard," commented Bryce Byers, president and chief executive officer of Neovest, Inc. "SunGard's experienced staff and redundant infrastructure support the connectivity we need to help keep our applications running at absolute peak performance. Additionally, SunGard's S*NET connectivity will provide us with access to an increased range of data providers and trading destinations."
SunGard Market Data Services utilizes the SunGard Global Network, which consists of over 25,000 miles of optical fiber extending across North America and Europe, with over 48 points of presence worldwide through which subscribers can connect. One of the network's most innovative new features is S*NET, which enables customers to simplify their access to SunGard solutions and services through a single connection. S*NET offers quick and affordable access to the SunGard Transaction Network (STN), an electronic global network that links financial services firms and allows users to automate the full transaction lifecycle across common security types to achieve straight-through processing. With multiple network "on ramps" from carrier partners like AT&T, ISPs and other financial connectivity providers, S*NET offers flexibility and speed in accessing SunGard's transaction processing services.
"Neovest provides trading technology and strategy that significantly improves the performance of traders and investors," added Rick Snape, president of SunGard Market Data Services. "Their advanced analytics, idea generation and automated, intelligent order generation capabilities, combined with the added security of our resilient network and high-quality data, positions them well as one of the top tier platforms on the market."