High-Speed Trans-Atlantic Cable

The race to accelerate Wall Street trading has moved underwater. Hibernia Atlantic today announced plans to build a trans-Atlantic submarine fiber optic cable that will provide faster connections between New York and London than any available today. A Hibernia said the new Project Express cable will provide high frequency traders with latency of under 60 milliseconds between New York and London, faster than the current top speed available on the fastests trans-Atlantic cable, Global Crossing's AC-1. The first phase of the new build will run a cable from the county of Somerset in the UK, to Halifax, Canada where it will connect with Hibernia's current low latency cable from Halifax to New York. The build is projected to be completed by the summer of 2012. AProject Express will be the first trans-Atlantic cable build in nearly 10 years, following the dot-com era overbuilding of 1998-2001, when seven new submarine cable routes were built. Pricing collapsed, and trans-Atlantic bandwidth remains among the lowest available. But Hibernia clearly sees an opportunity in the demand from the high frequency trading market, where a difference of microseconds can offer a competitive advantage.



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Posted: September 30th, 2010
at 4:40pm by Koookiecrumbles

Categories: development,trade

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