Boost for IFSC from CeltixConnect

Sea Fibre Networks, owner and operator of Europe’s subsea telecoms network, today announced that CeltixConnect, a major fibre gateway that connects Dublin to London and Manchester, is live. This game-changing 144 fibre network enables businesses with the lowest latency solution between Ireland and the UK and onward to Europe.

A milestone for modern telecommunications, CeltixConnect will satisfy extreme demands for capacity and low latency driven by the digital and financial services industries in Ireland.

Online financial trading requires a high speed, high capacity and low latency connection. CeltixConnect will enable high-frequency traders to transmit millions of orders at lightning speed. Powerful algorithms - "algos," in industry parlance - execute millions of orders a second and scan dozens of public and private marketplaces simultaneously. They can spot trends before other investors can blink, changing orders and strategies within milliseconds. A five-millisecond delay transmitting an automatic trade can cost a broker up to 1% of its flow, up to $4 million per millisecond. CeltixConnect will reinforce and replace existing, aged networks in the Irish Sea as Internet capacity doubles every year.

Diane Hodnett, Sea Fibre Networks CEO said: "CeltixConnect going live heralds a new era for communications between Ireland and the rest of the world, opening up new opportunities for government, financial institutions and businesses across the country. We are delighted to be the first company in over a decade to provide this super-fast network to financial hubs like the IFSC and support the growth of our economy. Ultimately, Sea Fibre Networks success will be linked to the changes that take place in the financial services industry in Ireland over the coming years."

For further info contact: corporate@seafibre.com  or 01-6624399

Article Published: 17/02/2012