Perseus Telecom to Discuss the Importance of Failover and Testing in the Financial Industry At STAC Mid-Winter Meeting 2013
CHICAGO, Jan. 22, 2013 /PRNewswire/ -- Perseus Telecom, a leading provider of ultra-low latency, high capacity global networks, will participate in a panel discussion on system reliability and the resilience of trading systems at the 87th Annual Security Traders Association Mid-Winter Meeting in Chicago (STAC) on January 24, 2013. The panel, entitled "Making the Grade - The growing importance of failover/testing requirements in the industry," will feature Dan Watkins, Director of Business Development at Perseus, as a panelist alongside other industry participants from organizations such as TD Ameritrade, FlexTrade, Options City and NYSE Technologies.
The discussion comes on the heels of the recent SEC roundtable on the reliability and resilience of trading systems. Watkins will speak to the challenges of increasingly complex and interconnected trading systems and address the steps necessary to be fail-safe. Citing the recent impacts of Hurricane Sandy on the East Coast, Watkins will explore the underlying processes needed to build and test fault-tolerant market data and order management systems and the benefit to firms that take precautionary actions.
"Considering the unexpected fallout that Superstorm Sandy brought to the financial markets, it seems resilience and failover are back in the spotlight," comments Watkins. "Perseus, along with many of our tri-state clients, had to revert to disaster recovery plans. Due to the fail-safe operation we had in place, our back-up generator systems switched over seamlessly and without interruption, allowing for continued network connections and commerce. In executing our contingency plan, Perseus was even in a position to bring other networks and providers back online where disaster recovery configurations were not properly in place."
The execution of the Perseus contingency plan during Sandy was recently highlighted in a Financial Times article that noted how the company's data center at 60 Hudson Street in New York City, one of the most connected buildings in the world for telecommunications providers, continued running on generator power after electricity was lost. By utilizing the Perseus generator and fuel supply, the company provided high power electrical feeds keeping market signals and trade messages in full service for the global community that Perseus and 60 Hudson Street serve.
Specific questions to be addressed at this STAC panel include:
- Should we have industry standards for resiliency testing?
- How much do market outages impact small investors versus large investors?
- Are the industry risks so high that we should consider 'not building a resilient system' as being unethical?
- Is there an advantage to not building/testing fault-tolerant systems (e.g. better performance)?
- Which is harder to solve when failed: facilities, networks, hardware or software?
- How does latency play a role in determining the best approach to building reliable systems?
To learn more on the growing importance of failover and testing requirements, please attend the STAC Mid-Winter Meeting by registering here. To set up a meeting with Dan Watkins while at the conference, please contact him at firstname.lastname@example.org.
Notes to the Editors
About Perseus Telecom
Perseus Telecom is an award winning global provider and facilities based licensed carrier of enterprise and financial telecommunications with a focus on ultra-low latency networks. In addition to the fastest route between USA and Brazil, Perseus Telecom recently announced the fastest trans-Atlantic route in April 2012, named QuanTA. The company also connects Asia-Pac and Europe with significant points of presence in Tokyo, Singapore, Sydney, Hong Kong, London, Frankfurt, Stockholm, Moscow, Madrid, Milan and Dublin. Perseus Telecom works with the world's leading fibre assets and technologies to provide cost effective, efficient and valuable network solutions for its customers. Perseus Telecom Customers include: Banking, Trading, Finance, Fund Management, Broadcast Media and Entertainment Companies, Law Firms and Capital Partnerships, Global Manufacturers and Pharmaceutical Companies. The management team has decades of experience in major Tier 1 carrier companies and operates from offices in London, Dublin, New York, Chicago and Sao Paulo. For more information on Perseus Telecom, go to www.perseustelecom.com.
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SOURCE Perseus Telecom