Expansion enables financial services customers to benefit from the abundance of low-cost, renewable energy to help reduce costs and carbon emissions.
London and Keflavik, Iceland, 25 September 2017, Verne Global, a provider of highly optimised, secure, and 100% renewably-powered data center solutions, today announced that Colt has expanded its presence within its Icelandic data center by adding Colt PrizmNet as part of its on-net offering. Colt PrizmNet is a financial extranet that connects a global capital markets ecosystem of 85+ exchanges, venues and service providers and 10,000+ participants. It provides connectivity to all major venues, ensuring best execution and visibility into global markets – increasing algorithmic trading efficiency.
Adding access to Verne Global’s campus is designed to help clients with cost savings and the growing requirement for computationally intensive technologies such as high-performance computing (HPC) and grid applications. Iceland’s data privacy laws will also enable Colt’s financial customers to meet regulatory requirements for secure data storage and the ability to monitor and manage new cyber security risks. In today’s highly competitive financial markets, firms are seeing an increasing demand for data and analytics that is driving the need for more compute resources and higher capital and operational costs. This move enables Colt to address the following customer needs and market opportunities:
- Investment Banks – mid-and back-office systems, back-up and disaster recovery;
- Hedge Funds – quant research platforms and data storage;
- Systematic Trading firms – data storage, pre-trade analytics;
- Exchange groups and integrated market infrastructure groups – disaster recovery;
- Information service providers – data storage and distribution; and
- Interdealer brokers – back-up, disaster recovery and hosting trading applications.
“We are seeing tremendous growth in customer need for data from executable sources, as well as storage and risk modelling analytic tools, as new regulations continue to overhaul the market risk capital requirements,” said Andrew Housden, VP Capital Markets at Colt. “Our partnership with Verne Global provides Colt customers with access to Iceland’s abundance of renewable energy, making it a prime location for the growing demands for big data storage and non-latency sensitive services. We can now offer dedicated hosting in Iceland for firms that require high density cooling and processing, giving them the ability to optimise and scale their intensive compute applications, meet regulatory compliance requirements, and lower their operational costs and carbon footprint with no premium for going green.”
“The financial markets are increasingly relying on artificial intelligence and machine learning as an essential element of that, to manage the development of trading strategies requiring the analysis and interpretation of large structured and unstructured data sets,” said Stef Weegels, Sales Director, Finance & Capital Markets at Verne Global. “Verne Global’s HPC-optimised location provides the infrastructure, access to abundant, low-cost power, and technical expertise to help companies capitalise on these developments safely and securely.”
Verne Global’s data center, located on a former NATO campus in Iceland, draws its electricity from hydroelectric and geothermal energy. The cool, temperate climate in Iceland enables free cooling, that when combined with the low-cost, renewable power, means companies can save more than 70% on the total cost of operations for their compute resources over traditional financial hubs like London, Frankfurt and New York. The combination of innovative, technical design and an optimal location make Verne Global one of the world’s most efficient data centre campuses.
Colt provides high bandwidth services for enterprises and wholesale customers in Europe, Asia and North America’s largest business hubs. Colt enables the digital transformation of businesses through its intelligent, purpose-built, cloud-integrated network, known as the Colt IQ Network. It connects over 700 data centres around the globe, with over 24,500 on-net buildings and growing. Colt is also recognised as an innovator and pioneer in software defined networks (SDN) and network function virtualisation (NFV).
Colt has built its reputation on putting its customers first, with a focus on delivering true local presence and agility for enterprises that are global yet need local attention. Customers include data intensive organisations spanning over 200 connected cities in nearly 30 countries. Colt counts 19 of the top 25 global telecoms companies and 18 out of the top 25 global media companies (Forbes 2000 list, 2016) amongst its customers. In addition, Colt works with over 50 exchange venues and 13 European central banks. Privately owned, Colt is one of the most financially sound companies in its industry and able to provide the best customer experience at a competitive price. For more information, please visit www.colt.net.
About Verne Global
Verne Global provides highly optimised, secure, scalable and 100% renewably-powered data centre solutions offering forward thinking organisations significant and long-term cost savings. Combining Iceland’s natural attributes with innovative design, Verne Global addresses the challenges faced by intensive and high-performance computing in the world’s most advanced industries. To learn more, visit www.verneglobal.com
Richard M. Williams
Witz Communications (for Verne Global)