Hibernia Atlantic, the only diverse transAtlantic high bandwidth connectivity provider, announces today its plans to build the lowest latency cable route from New York to London offering High Frequency Traders the unique latency under 60 milliseconds. Hibernia's Global Financial Network (GFN) currently unites hundreds of global banks and financial exchanges with a single connection. The GFN was built for the financial community and meets their demanding performance and reliability requirements. Project Express will only strengthen the GFN as the fastest route across the Atlantic.
"Demand for low latency routes has grown exponentially over the past several years," states Bjarni Thorvardarson, CEO of Hibernia Atlantic. "Project Express will offer the lowest latency from New York to London and provide demanding customers the speed and accuracy they require." Furthermore, the new Express transAtlantic cable will allow customers to reach other key financial cities and will offer lowest latency connections between Frankfurt and London and into Chicago, New York City and Toronto. Additionally, Toronto will now connect into London at sub 70ms.
A state-of-the-art submarine network build, Express will be the shortest route from New York to London that will initially be lit with 40G technology and can be upgraded to 100G technology in the future. Express includes an entirely new, all marine, four- fiber pair, transAtlantic optic cable system which will tighten the Atlantic facilitating New York to London Round Trip Delay (RTD) at sub 60ms. This new route, which will be the first new transAtlantic cable in nearly ten years, is significantly lower latency than all other transAtlantic cable systems.
"The desktop study is complete, the vendor selection field has been narrowed and we're ready to move forward with this project," states Mike Saunders, Vice President of Business Development for Hibernia Atlantic. "Construction is second nature to Hibernia, having just completed another submarine cable, landing station and terrestrial network into Northern Ireland. Additionally, Hibernia owns and operates two transAtlantic cable systems. With our vast experience, this new venture is a natural fit for our business."
The first phase of the new build will begin with a new cable from the County of Somerset in the UK, to Halifax in Canada then connect to Hibernia's current low latency cable from Halifax to New York. In addition, the new system will include branching units for future latency enhancements to the US and Continental Europe. The build is projected to be completed by the summer of 2012.