Equant's Frame Relay Network Links Up SIMEX and Paris Bourse.
Connections Strengthen Online Trading Facility
Equant, the world's leading provider of seamless international data network services to multinational businesses, today announced that it has been selected to provide frame relay network services to the Singapore International Monetary Exchange (SIMEX), linking up SIMEX's online trading operation with the Paris Bourse.
Under the agreement, Equant upgraded SIMEX's existing international service digital network services to a fully-managed end-to-end frame relay network with links to the Paris Bourse. The two institutions, together with the Chicago Mercantile Exchange (CME), form the GLOBEX(R) Alliance - the world's first major electronic trading alliance for futures and options spanning three major time zones. The network of exchanges provides a common access platform to a wide range of derivative products denominated in the world's leading currencies.
SIMEX was established as Asia's first financial futures exchange in 1984. Since then, it has played a leading role as the region's international derivatives market. It also plays a pivotal role in the Singapore financial market by offering an effective and efficient international risk management and trading facility. The institution provides a broad range of global and regional futures and options contracts, covering interest rates, stock indexes and energy.
The online trading function is an extremely mission-critical application with high network availability requirements and a low tolerance for errors. The implementation of Equant's frame relay solutions has helped its clients realize cost savings in their communication expenses.
From a two-party trading link between the Chicago and Singapore exchanges, the online electronic system will soon become a tripartite arrangement. The frame relay network will facilitate the greater volume of international daily transactions resulting from this expansion.
"Equant's frame relay service offers immediate advantages to SIMEX's everyday trading activities, from improved network security, faster transaction speeds to reduced cost structures," said Andrew Bond-Webster, president, Equant's network services division, Asia-Pacific. "Because our network connects to all key business centers around the world, we would also be working closely with SIMEX to extend the new network arrangement to other international trading centers like London and Chicago."
"We are pleased that such a prestigious financial institution recognizes the strong value proposition that Equant brings. With the extension of relationships between the two companies, Equant will continue to support SIMEX's mission-critical network requirements with high level end-to-end local support across international time zones - 24 hours a day, 7 days a week - that all customers enjoy," added Bond-Webster.
These strengths have helped Equant clinch the SIMEX deal:
-- One network. Equant is a truly independent data communications company. Instead of partnering with an alliance of telcos, it owns the global network. This means that it is able to save on billing and sales costs, and offer better quality services to its customers. -- Network reach and support. Equant has a global network reach of more than 220 countries and territories. This allows SIMEX to plan for its future network requirements, such as connections to other major trading centers like London and Chicago. With local support expertise in 145 countries worldwide, Equant is able to provide a fast response to network requests and challenges which may arise. -- High reliability. By offering fully managed network services over a proven network infrastructure, Equant is helping SIMEX reduce the necessary resources required to manage and maintain its network -- resulting in cost savings to the company.
Equant (NYSE: ENT)(Paris Bourse: EQU) operates the world's largest data network in terms of geographic coverage, which extends to key business centers in over 220 countries and territories. Using its network, Equant has established itself as a leading provider of managed data network services, end-to-end, for multinational businesses worldwide -- including over 20 percent of the Global 1000. Equant also provides network design and integration services; equipment installation; maintenance and support services; and software development. See www.equant.com for more information.
|Printer friendly Cite/link Email Feedback|
|Date:||Aug 31, 1999|
|Previous Article:||Tekram's Newest P6PRO-A+ Slot 1 ATX No Sound and Video Onboard AGP Mainboard with support for next generation 133Mhz; Front Side Bus CPU's and Ultra...|
|Next Article:||Sonnetech Ltd. Changes Name to E-Color, Inc.; Enables Consumers to View Accurate Color on the Web.|