RealTime IT News

EDS Hosts To Help Online Brokerages

Texas-based EDS and Q4i, a provider of technology solutions for the financial services industry, today announced a five-year, $15 million agreement for EDS to provide Q4i with a full suite of web hosting and managed storage services.

Under terms of the agreement, EDS will host Q4i's Broker IQ solution, the firm's ASP-delivered financial services management system, from its Plano, Texas and Sacramento, Calif.-based facilities.

EDS says it will provide web hosting, managed storage and midrange hosting services designed to enhance Broker IQ and help Q4i cater to medium and small financial services firms looking to apply digital technologies to their online services, including online brokerage services.

Q4i argues that by integrating Q4i's Broker IQ into their Internet presence can help their customer's can grow revenues, manage risk and attract new online customers.

"Scalable web hosting and managed storage are critical to the growth of Q4i as a service provider to the brokerage and banking industry," says Rick Holland, president and chief operating officer for Q4i.

"The combination of Broker IQ and EDS' robust hosting services will provide the broker/dealer and financial services industry with flexible online trading management and information solutions that will allow clients to grow their business and meet their compliance responsibilities," he adds.

According to research from Celent Communications, users of online brokerages were estimated at six million in 2000 and are expected to grow to 14 million by the end of 2003.

Additionally the firm found that among the top 100 global securities firms, only 28 percent currently offer transactional capabilities to online customers.

"We look forward to working with an innovator such as Q4i," says Steve Lapekas, vice president of EDS Hosting Services.

"EDS' financial industry experience, coupled with our fully managed hosting services, will allow Q4i to deliver scalable, reliable performance to their financial clients."