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. Equinixand Perseus have simplified this task by offering High Precision Time to Equinixcustomers 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, Equinixenables 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'sdiverse 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'sdata centers. Customers new to Equinixthat 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'sfootprint 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.
Equinixand 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'sNY4 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 Equinixdata centers, by over five milliseconds. Thus Equinixand 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,
Equinixwas 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 Equinixin Hong Kong, Sao Paulo, Singapore, Sydneyand Torontoto 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]
- Surprise, Surprise! Increase Player Growth Odds with Technology [forum]
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
Perseus provides many of the world's fastest market-to-market routes (all asset class including
More Information: http://perseustelecom.com/contact/
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
International Business Exchange is a trademark of
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