FOREX TECHNOLOGY
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along with a low-latency consolidated feed within a datacenter where a Savvis customer has a connection. Savvis expects to be involved in more ventures such as the tie-ups with Tomson Reuters and Corvil in the future, as demand to analyze the mushrooming levels of market data in FX markets increases.
Data in bursts
Rising market data volumes are also creating a burgeoning demand for greater levels of bandwidth in managed services solutions. Brooks of Savvis says the managed services provider provides its clients with “proactive bandwidth management”, whereby its customers are warned if data bandwidth thresholds are in danger of being reached and upgrades required.
Alan Schwartz
“We have a blended proactive approach. Customers need access to more bandwidth on a
sporadic basis. But the ability to increase bandwidth on a trending basis is also important,”
Savvis, which provides its customers with service level agreements (SLAs) that guarantee latency performance, offers CorvilNet as a packaged service. Instead of taking out a separate contract with Corvil for the latency analytics service, customers can obtain CorvilNet as part of a bundled service from Savvis.
Cresswell highlights the benefits of such a “one- stop-shop” service, where customers obtain tools for measuring market data without having to purchase any additional software or hardware.
“More and more, as we build a financial community, people ask us if we can deploy applications and tools and CorvilNet was one of the first examples of this,” says Cresswell of Savvis. “I think that is going to be the direction that we will be taking in the future. Packaging applications and infrastructures tools as a service to the broader financial services community.”
Savvis has also formed a partnership with Tomson Reuters facilitating via its global data centre network the global deployment of Tomson Reuters Elektron Hosting, which spans a variety of markets including Frankfurt and Tokyo. Te offering provides users with low-latency FX market data feeds and analytics,
122 | april 2012 e-FOREX
Services which provide hedge funds and bank proprietary trading firms with the capacity to manage surprisingly sharp spikes in volatility is of particular value in current market conditions as currency markets become unusually difficult to predict in ongoing debt crisis. Currency analysts point out that the intervention of governments around the world to weaken their currencies has at times spooked markets, making it more difficult for investors to find safe havens. Market rumours and emotive headlines on financial news services have led to sizeable swings in market volumes.
BT Global Services offers FX market participants its Saas+ service, which is designed to enable the performance of data services to withstand bursts in trading volumes. Te managed network connectivity provider continually monitors levels of bandwidth use through the use of utilization reports and has mechanisms in place that trigger alarms when limits in use are approaching. “If you have any form of uncertainty in any market, there are lots of times when you have spikes in volatility and volume. When these occur, you need to be with a provider that can cope with exceptional conditions,” says Foster.
“Bandwidth has gone through the roof and clients want to know that they can get it. More and more applications are bandwidth hungry,” says Brooks of Savvis. “Many years ago we had 9.6KB speed. Now we have 64K and ethernet is a standard offering. We are running 10GB links everywhere. So the bandwidth has just grown exponentially in recent years – 10 MB has become the standard now.”
TNS’ Bandwidth Based Services (BBS) has “customized bursting capabilities”, designed to
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