The trend toward opening new data centers has extended beyond the co-location trend and the need to reduce latency, as Princeton Financial Systems (PFS), a subsidiary of Boston-based State Street Corp. and a portfolio management provider of investment accounting, investment compliance, data management and reporting solutions, announced last week the rollout of what it calls a state-of-the-art data facility.
Small, mid-sized and institutional investors are part of the target market.
The center provides users with more than 6,000 square feet of space, leveraging PFS’ PAM account management suit used by investment advisors, mutual and pension funds, and PFS’ MIG21 investment compliance software. The center is based in New Jersey. A PFS spokesperson would not give a more specific location.
While it is a fraction of the size of data centers run by Savvis, Equinix or the planned centers being developed NYSE Euronext in the U.S. and the U.K, for example, it seems it was designed for a different purpose. “This appears to be more of a hosting service for Princeton’s products which would not be associated with a low latency solution,” said Sang Lee, managing director of the Aite Group. “It’s more of a portfolio accounting piece.”
PFS’ new data center has some of the features of its larger counter parts, including multi-level physical and logical information security, consistent with current international standards for information security. PFS says that advanced power, cooling, storage, backup, redundancy, disaster recovery and sustainability features ensure that clients’ mission-critical applications are always available while optimizing energy and efficient use of space.
“Through the integration of high efficiency systems we are able to significantly reduce energy consumption while also increasing capacity to accommodate future growth,” said Princeton CEO James Russo. It supports the company’s software as services strategy as, the company says, it expands across the globe with its multi-product offerings.
Onsite infrastructure and support personnel monitor and manage data center operations and services around the clock seven days a week, on a remote and onsite basis. Internal and external audits are performed regularly to ensure the most efficient and effective controls are in place.
This article can also be found at SecuritiesIndustry.com.

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