Fascet LLC and Rackspace Team Up to offer SaaS Enterprise Data Management Solution to Financial Services Industry

New York , NY - 1 July 2009

Fascet LLC, a leading provider of enterprise data management solutions, today announced they have become a Premier Partner in the Solution Partner Network of Rackspace (NYSE: RAX), the world’s leader and specialist in hosting. This relationship is intended to provide the financial services industry with a platform that normalizes and securely transmits transactions, positions, and valuation data between parties.

Fascet Trade Communicator, a post-trade notification solution that processes any asset type including complex OTC derivatives, is now offered in a cost-effective Software-as-a-Service (SaaS) delivery model. Trade Communicator was designed to meet the complex transaction requirements of banks, hedge funds, investment advisors, and broker dealers. Approximately 80 firms are now using the platform to notify counterparties of transaction details as well as to provide transparency.

“As Financial Services firms continue to adopt SaaS for mission critical business applications, we are excited about working with Fascet to provide world-class support for their hosted solution”, said Robert Fuller, VP of World Wide Channel Sales for Rackspace.

“We spent 12 months reviewing many of the leading hosting providers prior to selecting Rackspace. The key factors in our decision were data center security, quality of support, system availability, and industry track record. In the past 6 months, we’ve successfully implemented more than 50 firms across five continents with 100% system availability. Our relationship with Rackspace was integral in allowing us to scale our SaaS offering“, said Brian Baskinger, Managing Director of Technology at Fascet.

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