October 20, 2009
Forex Capital Markets Scales for the Future with Switch and Data in North Bergen
TAMPA, Fla. - Oct. 20, 2009 -- Switch and Data (NASDAQ: SDXC), a leading provider of network-neutral data center and Internet exchange services, announced today that Forex Capital Markets (FXCM Holdings LLC) a leading global foreign exchange broker that caters to the retail and institutional markets in over 150 countries, will place its primary infrastructure in Switch and Data's North Bergen data center. FXCM needed a venue that would help its customers trade with faster execution speed. Switch and Data can provide the space and power density to scale its infrastructure to accommodate its rapid growth and premier order routing technology giving customers faster fills with minimal slippage. Switch and Data's North Bergen, NJ site offered FXCM a home just 5 miles from Wall Street, with a choice of multiple low-latency network providers, and with high density power and cooling capacity.
Foreign exchange trading is the largest financial market in the world. According to industry sources, it has an average daily turnover of US$3.2 trillion. As of June 2009, FXCM handles an average of over $365 billion in notional volume traded each month on trading platforms offered by FXCM and routinely handles approximately 300,000 trades per day. FXCM had over 150,000 active accounts on its trading platforms, and more than $100 million in capital.
“Considering the uptick in trade volume in the currency markets, we needed a data center provider that met our near- and long-term needs. We chose Switch and Data's North Bergen site because of its close proximity to Wall Street and its robust and power-dense design. These enable us to fully leverage our current and future technologies as well as our market structure,” said Brandon Palmer CIO, FXCM Holdings LLC. “In addition, because of the mission-critical nature of the FX trading environment, we wanted to ensure our customers nothing less than world-class service and the North Bergen site is built to support that.”
“We are pleased that Forex Capital Markets chose Switch and Data to help it expand and support its increasing trade volume,” said John Panzica, Vice President Financial Services Practice for Switch and Data. “As a valued destination for the financial community and a main tenant in our Financial EcoCenter located in North Bergen, Switch and Data now provides the financial services industry access to market data companies, carriers and trading firms for the best trade execution.”
Switch and Data's North Bergen site offers the financial community space and power to scale their operations to keep pace with this drastic increase in transaction volumes. The secure 163,000sf data center provides 24/7 on-site and remote security surveillance, and multi-factor security authentication. The site is built to Switch and Data's latest high-performance standard and can support the latest high density power and cooling deployments with an N 1 design for all power and environmental systems. The site provides 24/7 on-site remote technical service and support, and live remote monitoring of all building and infrastructure alarm systems.
About FXCM Holdings LLC.
Forex Capital Markets is a leading global forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is one of the largest brokers, regulated by several of the world's most respected financial authorities. With over 150,000 live accounts trading through platforms offered by FXCM account options are available for all trading experience levels.
Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors.
About Switch and Data
Switch and Data is a premier provider of network-neutral data centers that house, power and interconnect the Internet. Leading content companies, enterprises and communications service providers rely on Switch and Data to connect to customers and exchange Internet traffic. Switch and Data has built a reputation for world-class service, delivered across the broadest colocation footprint and richest network of interconnections in North America. Switch and Data operates 34 sites in the U.S. and Canada, provides one of the highest customer satisfaction scores for technical and engineering support in the industry, and is home to PAIX® — the world's first commercial Internet exchange.
Important information about Switch and Data is routinely posted to the investor relations section of the company's website www.switchanddata.com. For copies of all Switch and Data press releases and SEC filings, please visit the website. To automatically receive Switch and Data financial news by email, please visit the website and subscribe to Email Alerts. Investors are encouraged to check Switch and Data's website frequently to access the most up-to-date information.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix, Inc. International Business Exchange is a trademark of Equinix, Inc.