Equinix is First to Offer Global Access to High Precision Time™ from Perseus Telecom
Data center provider offers standardized time-stamping service for electronic trading; now available in key financial markets in the Americas, Europe and Asia
REDWOOD CITY, Calif. and NEW YORK, Sept. 10, 2014 /PRNewswire/ -- Equinix Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that it is the first data center provider to bring High Precision Time™ by Perseus Telecom to each point of the globe. Perseus Telecom, a leading provider of high-speed global connectivity and Market-to-Market networks has deployed the risk compliant time service in the major financial Equinix data centers, further bolstering the variety of services that Equinix makes available within its financial services ecosystem. Financial firms collocated in Equinix data centers in North America, Europe and Asia stand to greatly benefit from this new offering, which reduces the costs of electronic trading through more efficient and cost-effective trade verification.
Highlights / Key Facts
- In the financial industry, time-stamping all trades to NIST (The National Institute of Standards and Technology) timing is a regulatory imperative. Equinix and Perseus have simplified this task by offering High Precision Time to Equinix customers in Chicago (CH1), Frankfurt (FR2), London (LD4), New York (NY4) and Tokyo (TY3). By offering financial firms a standardized method of time-stamping trades globally, Equinix enables them to more efficiently and cost effectively connect to the NIST time scale in Boulder, Colo. through the very data centers in which trades are occurring.
- Equinix's diverse financial services ecosystem, comprised of more than150 exchanges and trading platforms and 480 buy- and sell-side firms, presents Perseus with a rich pool of prospective customers. Companies wishing to use High Precision Time can simply request the service from Perseus, who can then set up a cross connect within Equinix's data centers. Customers new to Equinix that come through Perseus' offering can join the more than 4,500 companies on Platform Equinix™; discover a wide variety of potential customers, partners and service providers; and increase their reach through Equinix's footprint of more than 100 global data centers.
- With certified time stamps to sub-nanosecond accuracy, Perseus provides an objective measure by which to award trades that occurred first. High Precision Time can be calibrated to customer need with options to adhere to NTP (Network Time Protocol) and PTP (Precision Time Protocol). It provides companies an alternative to connecting to NIST through GPS or ingesting time across NTP over the Internet, both methods susceptible to disruption or malicious attack.
- Perseus' turnkey service eliminates the operating costs of time stamping for traders, including the purchase of stratum 1 atomic clock infrastructure, the network costs associated with connecting to NIST and the human capital required to man such a system and match trades on the back end.
- Equinix and Perseus have a long-standing relationship and have jointly achieved other market firsts chiefly geared toward the financial services industry. Earlier this year, Perseus became the first to offer an ultra-low-latency, trans-Atlantic wireless connection between Equinix's NY4 and FR2 International Business Exchange™ (IBX®) data centers. With a mere 67.68-millisecond roundtrip delay, the wireless connection bests the fastest fiber connection, also operated by Perseus through Equinix data centers, by over five milliseconds. Thus Equinix and Perseus enable the fastest wireless and wireline trades in the industry.
- Beyond financial firms, High Precision Time benefits any industry that requires precise time stamping, including online gaming and app hosts.
Dr. Jock Percy, CEO, Perseus Telecom:
"With its network-rich data centers and savvy customer base ready to embrace new technology, Equinix was a natural partner in making High Precision Time globally available. We anticipate great demand for our solution and are looking at deepening our relationship with Equinix in Hong Kong, Sao Paulo, Singapore, Sydney and Toronto to proliferate our offering."
Barry W. Smith, managing director, global capital markets, Equinix:
"In finance, an accurate time stamp is the difference between winning or losing a trade – therefore precision is key. Competitive advantage can mean nothing without the most advanced, efficient and cost-effective back-end support. By making High Precision Time available through our data centers, our customers have a compelling alternative for streamlining their trade compliance activities and reducing operating costs, enabling them to apply those resources elsewhere."
- Equinix Insider: Interview with Dr. Jock Percy, CEO, Perseus [video]
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Perseus is a private global high precision network provider for financial trading, gaming, e-commerce and multi- media. Customers include top tier market makers, banks, exchanges and Fortune500 companies. The company is headquartered in New York with offices in Chicago, Dublin, London, Miami, Sao Paulo and San Francisco.
Perseus provides many of the world's fastest market-to-market routes (all asset class including Bitcoin) between Chicago, New York, London, Frankfurt, Sao Paulo, Mexico City, Tokyo, Singapore, Johannesburg. The company has earned accolades for the fastest trans-Atlantic route between New York and London (QuanTA™), the lowest latency route between Brazil and USA (LiquidPath®) and High Precision Time™. Perseus accepts Bitcoin for payment of services with GoCoin.
More Information: http://perseustelecom.com/contact/
Equinix, Inc. (Nasdaq: EQIX), connects more than 4,500 companies directly to their customers and partners inside the world's most networked data centers. Today, businesses leverage the Equinix interconnection platform in 32 strategic markets across the Americas, EMEA and Asia-Pacific. www.equinix.com.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix, Inc.
International Business Exchange is a trademark of Equinix, Inc.
SOURCE Equinix, Inc.
Released September 10, 2014