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Bermuda And Cayman Tap Into Global Financial IT Network

by Amanda Banks,, London

31 August 2006

Savvis Inc., a global provider of IT infrastructure services for business applications, has entered into a comprehensive distribution agreement effectively giving TeleBermuda and TeleCayman exclusive rights to offer select Savvis services in Bermuda and the Cayman Islands.

Under the terms of the agreement, TeleBermuda and TeleCayman, leading international telecommunications carriers in Bermuda and the Cayman Islands respectively, will leverage Savvis's industry-leading global private financial network to develop and market products and services to clients, primarily in banking and finance, insurance and reinsurance, and hedge fund industries.

As part of the agreement, Savvis's global private network infrastructure will be connected directly to TeleBermuda’s and TeleCayman’s Network Operation Centers in Bermuda and the Cayman Islands. Savvis says that this will complement the voice, private lines, dedicated Internet, DSL and hosted business continuity products and services that are already offered by TeleBermuda and TeleCayman.

The agreement will also enable thousands of customers already connected to Savvis’s Financial Extranet to access Bermuda and the Cayman Islands’ lucrative financial markets to submit a variety of trade-related messages, including indications of interest, order routing, and trade executions, and carry out other Financial Information eXchange (FIX) and non-FIX transactions.

Bermuda and the Cayman Islands have emerged as jurisdictions that specialize in insurance, re-insurance, banking and hedge funds, and the partnership will cater specifically to these industries with innovative products and services.

Savvis's global financial extranet provides application connectivity to all the major exchanges, market data feeds, and the ability to connect to over 4,700 financial community end-points. These represent buy and sell-side institutions, market data and software vendors, exchanges and alternative trading venues around the world. The company's IT infrastructure today extends to 45 countries and includes 25 data centers in the United States, Europe, and Asia with more than 21,000 fully-managed network end points.

“Savvis brings a heritage of innovation and proven managed IT services for financial markets,” stated Raul Nicholson-Coe, President and Chief Operating Officer for TeleCayman.

“Savvis's’ ultra low latency financial extranet and global hosting services opens a myriad of IT solutions and opportunities for our customers," he added.

“Any institution connected to TeleBermuda and TeleCayman will now be able to access one of the world’s leading global financial networks through a single managed connection, eliminating the need to manage multiple providers,” noted Gregory Swan, Executive Vice President and Chief Operating Officer for TeleBermuda.

“SAVVIS enhances TeleBermuda’s and TeleCayman’s breadth of services, opens new business opportunities in the marketplace, and strengthens our position for future growth," he concluded.

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