Groundbreaking ultra-low latency connection to BM&F BOVESPA creates new high frequency trading opportunities
New York, NY – August 3, 2011 - Perseus Telecom, a global provider of telecommunications, announced today that the firm has created the fastest available trading connection to leading Latin American exchange BM&F BOVESPA, via a partnership with GlobeNet, an international wholesale provider of submarine capacity, and a wholly owned subsidiary of Oi. Perseus Telecom now provides the most streamlined, lowest latency route directly linking Sao Paulo’s BM&F BOVESPA to New York’s NASDAQ OMX, and in turn, routes to major global exchanges such as the CME, NYSE, BATS, LSE, Deutsche Börse and Eurex.
“In essence, we have brought BOVESPA directly into the US trading sphere,” comments Andrew Kusminsky, COO of Perseus Telecom. “Now, the connection between this fast-growing Latin American exchange and NASDAQ is as fast as a typical route between New York and London. Perseus Telecom has seen tremendous demand and need amongst our trading clients, both large and small, who need to quickly leverage the growing market opportunities in Latin America.”
This groundbreaking new backhaul network opens up new and important opportunities for trading firms looking to increase exposure to Latin America and diversify their product portfolio. By establishing a direct connection to BM&F BOVESPA, Perseus Telecom enables trading firms to gain a significant market advantage. This new connection allows traders and financial firms to develop innovative high frequency trading strategies, products and services incorporating securities traded through BOVESPA.
Overall the new express route establishes much-needed ultra-low latency connectivity to Brazil, an emerging and booming economy. In addition, the high capacity route will create a diverse connection that will completely avoid the highly congested NYC metro area and connect directly to the New Jersey NASDAQ facility; therefore creating new express connectivity with Chicago, Toronto, London and Tokyo financial exchanges without having to traverse traditional carrier networks.
“Designed with the latest advancements in technology, GlobeNet’s low latency network ensures that financial firms receive ultra fast connectivity,” states Erick W. Contag , Chief Operating Officer of GlobeNet. “Trades and transactions can be conducted seamlessly and securely which is essential in the highly competitive financial marketplace.”
“As cross-border trading becomes increasingly important in a global marketplace, the ability to access emerging marketplaces such as the BM&F BOVESPA can be a true differentiator for trading firms,” comments Dr. Jock Percy, CEO of Perseus Telecom. “Latin America is quickly becoming an international hub and trading desks, whether at a large bank or a hedge fund, are racing to discover the arbitrage and hedging opportunities available through exchanges like BOVESPA. Our relationship with GlobeNet and our new ultra-low latency connection are opening up a world of opportunity for traders and we’re excited about this unprecedented landmark achievement. Perseus Telecom is committed to providing innovative network solutions to the world’s leading financial services firms and our new express route is a validation of that commitment.”
About Perseus Telecom
Perseus Telecom is a global provider of telecommunications with a focus on ultra low latency networks that works with the world’s leading fiber asset providers and technology owners to provide its clients with the right network solution at the right price. Perseus Telecom is able to access an extensive global infrastructure while ensuring that service-level solutions are also cost-effective. Perseus Telecom customers include; Banking, Finance and Fund Management Institutions, Broadcast Media and Entertainment Companies, Law Firms and Capital Partnerships, Global Manufacturers and Pharmaceutical Companies. Perseus Telecom’s management team has decades of experience in major Tier 1 carrier companies and operates from offices in London, Dublin and New York. For more information on Perseus Telecom, go to www.perseustelecom.com or contact Amy Anderson at +1 (212) 300-6813.
GlobeNet provides international capacity services between North and South America over a dual ring-protected, fiber optic submarine cable system serving Bermuda, Brazil, Colombia, U.S.A., and Venezuela. The network spans more than 22,000 kilometers and offers a network availability of 99.99%. GlobeNet with its headquarters in Boca Raton, Florida -USA is a wholly-owned subsidiary of Brazilian full-service telecommunications provider Oi (that acquired Brasil Telecom). www.globenet.net
For Perseus media inquiries, please contact:
Binna Kim / Angela Byrne
+ 1 646 395 6300
For GlobeNet media inquiries, please contact:
Jaymie Scotto & Associates