Verizon launches low-latency financial service for firms New York and Chicago

Telecom Lead America: Verizon is introducing a
low-latency financial service that enables firms in New York and Chicago to
execute trades at fastest possible speeds.

The new offering is targeted at global banks, hedge
funds, market makers, pre- and post-trade service firms and money

CME Group, a diverse financial derivatives market place,
will be one of the customers for the Verizon Financial Network Premier
Low-Latency Service.

It will use the service 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.

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,” said
Chandan Sharma, managing director of Verizon’s financial vertical markets.

Verizon is offering speeds as low as 14.5 milliseconds
round-trip to reduce latency. The service employs optical technology from
Ciena, the 6500 Packet-Optical Platform, enabling Verizon customers to exchange
large files of important market data and reliably.

Verizon’s premier service features full network
monitoring and management for both latency and availability.

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

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. This premium solution is a welcome
addition to the Verizon portfolio for the financial services sector,” said
Roopashree Honnachari, program manager at Frost & Sullivan.

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