New Verizon Service Lets Financial Firms Execute Ultra-Fast Trades Between Chicago and New York
Apr 18, 2012, 12:01 ET
NEW YORK, April 18, 2012 /PRNewswire/ -- Verizon is introducing a low-latency financial service that enables firms in New York and Chicago to execute trades, securely and reliably, at some of the fastest possible speeds available today.
The new offering is immediately available and is targeted to global banks, hedge funds, market makers, pre- and post-trade service firms and money managers. CME Group, the world's leading and most diverse financial derivatives marketplace, will be among the first customers for the Verizon Financial Network Premier Low-Latency Service and will use it in its Aurora, Ill., data and colocation center to enable companies in Chicago and New York to trade on CME Group's platforms and exchange market data in a low-latency environment.
"We're creating a secure, reliable high-speed path along one of the busiest financial trading routes," said Chandan Sharma, managing director of Verizon's financial vertical markets. "Financial firms operating in the global trading network require high-speed connectivity, allowing them to trade or hedge their positions, all with the goal of protecting capital and reducing financial risk. Verizon's Premier Low-Latency Service is poised to help them do exactly that."
Verizon is offering speeds as low as 14.5 milliseconds round-trip, one of the fastest speeds in the industry, to reduce latency -- the time it takes for data sent from its entry point in the network to reach its destination. The service employs the latest optical technology from Ciena, the 6500 Packet-Optical Platform, enabling Verizon customers to exchange large files of important market data quickly and reliably. Verizon's premier service features full network monitoring and management for both latency and availability.
"Verizon's latest offering combines very high speeds with ultra-low latency, thus positioning the company as one of the industry-leading providers of low-latency network services," said Roopashree Honnachari, program manager at Frost & Sullivan. "This premium solution is a welcome addition to the Verizon portfolio for the financial services sector."
The new service is part of the Verizon Financial Network, which is used by many of the world's largest financial services companies for critical applications to collaborate with customers and partners, consolidate their market access, distribute services and information, and execute pre-trade, trade and post-trade transactions within a secure, resilient environment. For more information on Verizon's financial services, visit http://www.verizonbusiness.com/us/solutions/finance.
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Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with nearly 108 million total connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with $111 billion in 2011 revenues, Verizon employs a diverse workforce of nearly 194,000. For more information, visit www.verizon.com.
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For more information about Ciena, visit www.ciena.com.
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