FOREX TECHNOLOGY


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roll their contracts in order to keep them at the top of the latency charts, as well as having strict penalties for not making SLAs on our side.” As such, Hilt indicates that if the SLAs are not met by Hibernia then their customers can extract themselves from a contract within 30 days.


Customers operating in the financial markets increasingly rely on SLAs. BT’s Gibbs says that the vendor now has over 15,000 customers on the network benefiting from a Service Level Agreement (SLA) where detailed SLA reports are provided. He explains: “We provide regular updates to our customers. For some of the larger institutional customers we sit down with them and undertake regular SLA reports. In the case of other customers we provide reports on a regular basis or they can pull them off the GS portal,


which is our reporting tool.”


Tis provides BT’s clients with utilisation of the actual link, the uptime and latency rates. “Whilst we have not quite got to the millisecond part of it where we can examine it to see micro bursts, we are working towards that. But we are introducing low latency tools that go on top of the low latency network, as one without the other doesn’t work.”


Diversity


Hibernia Atlantic is dedicated to what it refers to as ‘Security Trough Diversity’ on its network. It is also committed to protecting global communications cables’ critical infrastructure, as outlined in Homeland Security’s ‘National Strategy for Physical Protection of Critical Infrastructures and Key Assets’ report.


Furthermore, Hibernia Atlantic is also currently the only trans-Atlantic cable that does not transverse traditionally congested waterways, such as near


96 | april 2011 e-FOREX


New York or around the UK. And, this January the firm received a $250m financing commitment from Huawei Marine Networks for Project Express, a low latency fibre optic cable system slated for completion in 2012. Tis will be lit using 40G technology (upgraded to 100G to meet demand), connecting the New York City area with London.


Te route provides Hibernia’s Global Financial Network clients, including traders, global banks and exchanges, connectivity with sub 60 milliseconds (mls) latency and offers low latency connections between financial hubs of Frankfurt and London to Chicago, New York and Toronto. Hilt reveals that: “Our first tier class of service will be 59.6 mls exactly once the service is up and fully operational.”


Commenting on the differences between financial Extranets and high- bandwidth


service provision, he says: “Extranet is a


really broad term and it depends on how one


really looks at it. For Hibernia, we’re a high bandwidth point-to-point connectivity provider.”


In terms of connectivity choices facing buy-side and sell-side firms, he adds: “Carrier POPs or financial POPs have really become predetermined. I think most of the customers are going into those facilities. So, at Hibernia we’re picking them up from those facilities and then we’re bringing them to other ones they want to have access to.”


Hilt asserts that IT departments at major trading institutions have now got to a point where “customers not only want control over what route they are on, but the equipment at the end of it to ensure every possible microsecond and nanosecond can be gained out the of circuit.”


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