Financial service technology innovators partner to develop proprietary network solution to enhance connectivity and create a more efficient trading platform
NEW YORK/JERSEY CITY – November 2, 2010 — Sidera Networks, a premier provider of fiber optic-based network solutions, announced today that it has been chosen as the foundation on which the National Stock Exchange, Inc. (NSX®) will offer its “Exchange in a Box” network solution.
The Sidera Networks team engineered a dedicated, layer 2 network running over an ultra-low latency wavelength platform delivering efficient and seamless connectivity to NSX in support of their Exchange in a Box network solution. The Exchange in a Box network solution enables firms to quickly cross-connect with NSX, further reducing latency and fees for NSX’s member firms.
“As technology plays a critical role in today’s market structure, NSX is committed to developing innovative market efficiencies for its customers,” said Joseph S. Rizzello, NSX Chief Executive Officer. “Exchange in a Box embodies our dedication to developing solutions that meet the needs of our customers and represents a significant breakthrough in pricing, speed and connectivity.”
“We partnered with Sidera to create a new and proprietary network that allows customers to connect with NSX in a very timely and cost-effective manner,” said Saro Jahani, NSX Chief Information Officer. “The Exchange in a Box network solution provides connectivity to NSX via any of the major financial data centers in the New York Metro area at a reduced cost, enabling NSX customers to take advantage of micro-second connections.”
“This tailored network solution our team designed is a revolutionary concept that will dramatically improve speed and scalability for NSX’s member firms,” said Mike Sicoli, CEO of Sidera Networks. “The high-capacity, resilient and reliable infrastructure of NSXDirect is designed to meet the demanding requirements of the financial services industry. Our ability to deliver low-latency connections between key exchanges and data centers will enhance NSX’s services and provide its customers a competitive advantage.”
NSXDirect network leverages Sidera’s Xtreme network, a low latency network purpose built to support the needs of the financial services industry. Sidera’s Xtreme Network utilizes ROADM technology. This ROADM-based architecture allows for minimal Optical-Electrical-Optical (O-E-O) conversions, providing low latency routes across a network of nodes strategically located in major data centers vital to the financial services industry.
About Sidera Networks
Sidera Networks www.sidera.net, formerly RCN Metro Optical Networks, is the premier provider of tailored, high capacity communications services that ensure optimal business performance to carrier and enterprise customers. Sidera Networks offers a comprehensive suite of facilities-based services including: Ethernet, SONET, wavelength, internet access, colocation and more. With a fiber optic network leveraging unique rights-of-way that spans from Maine to Virginia, out to Chicago and up to Toronto, Sidera is committed to delivering cost-effective, custom solutions coupled with superior industry expertise, service and support.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.