High-speed ethernet solution provides leading-edge network for investment firms connecting financial exchanges globally
HONG KONG, Feb. 24 /PRNewswire-Asia/ -- Cable&Wireless Worldwide has invested into a global network capable of supporting the specialised and mission critical algorithmic trading and communication needs of the world's largest investment banks and financial institutions. Utilising the company's International Ethernet Private Line (IEPL) solution, the network offers extremely high-speed, predictable and secure ethernet connections between global financial trading exchanges.
Algorithmic or Automated Trading is recognised as the new paradigm in global investment banking (1), Highly complicated computer programmes are empowered to execute trading orders on the basis of pre-defined algorithms within milliseconds. Reliable, low latency networks connecting the key global financial exchanges are critical to delivering the performance expected from such a trading platform.
Cable&Wireless Worldwide has already secured a deal with a prominent global investment bank based out of United Kingdom to extend the reach of their cash equities, prime brokerages and futures trading algorithmic network. This specially designed trading network connects the investment bank's key worldwide financial trading exchanges in Chicago, Frankfurt, Hong Kong, Korea, Osaka, San Francisco, Singapore, Sydney and Tokyo. Cable&Wireless Worldwide was awarded this contract after a competitive bid where the company was able to demonstrate its ability to deliver the most predictable and lowest round-trip delays on transactions between all of the nine global exchanges.
Nick Lambert, Managing Director - Global Markets, Cable&Wireless Worldwide said, "In the investment banking business, time is literally money. We estimate that the critical role of network path optimisation between a minute and a millisecond could mean a 2 million pounds sterling profit or loss for financial institutions. Cable&Wireless Worldwide's specially configured IEPL solution takes chance out of the equation and enables customers to get optimal returns from their investment in setting up leading edge algorithmic trading platforms."
Cable&Wireless Worldwide already delivers the IEPL based service over its fully meshed global Core Director Transmission network, at speeds up to 1Gbps and across 31 sites in Asia, India, the UK, Continental Europe and the US. This worldwide ethernet-based network enables time-sensitive trading information to be optically switched across Cable&Wireless Worldwide's resilient global Core Director Network (CDN) powered by leader core switching vendor, Ciena, over high-speed, predictable and lowest latency routes.
APPENDIX
1: The Financial Times, September 30, 2009 'Insight' section article by
Andrew Lo from the MIT Sloan School of Management
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Cable and Wireless plc is one of the world's leading international communications companies. It operates through two standalone business units - Cable&Wireless Worldwide and CWI.
The Worldwide business (formerly Europe, Asia & US) specialises in offering high quality communications services such as IP, data, voice and hosting to large enterprise, reseller and carrier customers. It operates globally, with core markets in UK, Asia and EMEA, and provides connectivity in 153 countries.
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