As an alternative to the traditional Internet delivery of its market-data services, Revere is now making its Revere RealTime available via Savvis' Financial Xchange network.
Customers such as traders, analysts and fund managers, will have the option to connect to the Revere RealTime real-time market-data application through Savvis' private IP VPN.
"Our products were designed to work over the Internet and Savvis allows us to serve customers in a cost-compelling format," explains Madeline Duva, vice president of business development at Revere.
Jim Leach, assistant vice president of market development at Savvis, says that cost is a major factor during these economic times. "In this difficult market, we're seeing a flight to value in market data, so this is offering, to the end user, great opportunities to get the service levels they need at price points they can afford," he says. The arrangement leverages Savvis' existing connections to over 4,700 financial institutions in order to provide the connections at a lower price-point and get applications up and running faster.
"They are using the Savvis' infrastructure to combine multiple applications on a single local circuit," says Leach. "Revere RealTime offers a powerful set of applications but they're not in the networking business, Savvis is," he says.
Duva points out that for Revere customers, such as the Pacific Stock Exchange, this type of delivery is important.