Printer Friendly

MFS-CTF TO BUILD FIRST FULLY OPERATIONAL DISASTER RECOVERY TRADING FACILITY IN NEW YORK

 MFS-CTF TO BUILD FIRST FULLY OPERATIONAL
 DISASTER RECOVERY TRADING FACILITY IN NEW YORK
 NEW YORK, Jan. 21 /PRNewswire/ -- Metropolitan Fiber Systems, Inc. (MFS) and Contingency Trading Facility, Inc. (CTF) have been awarded a contract by the Hot-Site Consortium of the Wall Street Telecommunications Association (WSTA) to build and operate the first trading-capable disaster recovery and backup facility for investment trading firms. The facility, to be built in Brooklyn's MetroTech Center, will be equipped with actual trading floors, allowing customers to continue trading operations from the MFS-CTF hot-site.
 MFS is the nation's largest competitive local access telecommunications provider. CTF specializes in the design and management of disaster recovery trading facilities.
 The hot-site project originated from a disaster planning survey conducted by the WSTA Hot-Site Consortium group among its member firms. "We found our members were looking for an emergency site which would offer them a mirror image trading floor setting within 24 hours notice," said Richard Sidoli, WSTA past present. "The proposed site by MFS-CTF offered superior computer and communications services, site selection and facility design to provide trading firms with the secure backup capabilities they need."
 "The CTF facility meets the immediate concerns of the trading community; namely, the ability to continue trading," said Royce J. Holland, MFS president and CEO. "While other contingency facilities are designed to provide firms with backup of their computer information, the CTF facility is the first to provide trading firms with the capability to continue trading from the contingency site. The response thus far has been extremely positive. Firms are very anxious to secure seats in the facility."
 "The need for a hot-site like this is not confined to the banks and brokerage firms that comprise New York's financial trading community," noted Holland. "Any disruption of facilities that support billions of dollars of daily transactions not only threatens the profitability of the street, it damages New York's position as a world financial center and the stability of the global investment environment."
 The growing number of outages in New York City have concerned many companies and generated interest in a trading-capable disaster recovery hot-site. According to Kathleen Perone, vice president, sales for MFS of New York, "In the event of a disaster, MFS-CTF will be able to have customers' computers configured and data installed within 24 hours because it will be updated on a regular basis. Also, customers' telephone circuits could be cut over to the hot-site immediately according to their on-record profiles. All traders need to do is show up at the hot-site to resume trading."
 The MFS-CTF hot-site will accommodate 250 trading seats. The MetroTech site was selected for the hot-site facility because of its accessibility to firms located in Manhattan's downtown financial district, Wall Street and midtown. The facility will be equipped to provide traders with voice and data communications lines to and from all 250 trading seats, as well as computers, office support services, meeting rooms, private offices and parking. It will meet federal securities trading regulations by providing independent and secure operation of each group.
 V Band Corp. will provide trading turrets for the hot-site. These turrets provide the latest state-of-the-art digital technology and dynamic reconfiguration capabilities. MFS will not only finance, build and manage the hot-site, it will provide member firms with communications services over its fiber optic network operating throughout the city.
 In addition to disaster recovery, the hot-site facility will be available to firms during peak demand or overflow of trading operations. Customers also can use the site for maintaining operations during physical relocation or modernization programs, as well as for training.
 MFS, which was founded in January 1988, is the first and largest national provider of competitive fiber optic local access service. The company offers businesses and long-distance carriers high quality, diverse and secure telecommunications services in direct competition with services provided by Bell Operating Companies throughout the country. MFS operates networks in New York City, Baltimore, Boston, Chicago, Dallas, Los Angeles, Minneapolis, Philadelphia, Pittsburgh, San Francisco, Washington and Houston, where MFS operates the first commercially available local area network and high-speed computer interconnection network.
 -0- 1/21/92
 /CONTACT: Marie Brockhurst of MFS, 708-218-7200; Mary Jung or Lisa La Plant of Corporate Communications Associates, 312-977-0077; or John Williamson of Hammond Farrell, 212-995-5680, for MFS-CTF/ CO: Metropolitan Fiber Systems, Inc.; Contingency Trading
 Facility, Inc. ST: New York IN: TLS SU:


CK-JT -- NY070 -- 1877 01/21/92 13:02 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 21, 1992
Words:733
Previous Article:HIRSCH ISSUES STATEMENT
Next Article:OAKWOOD HOMES CORPORATION REPORTS RECORD SALES, TOTAL REVENUES AND EARNINGS FOR FIRST QUARTER OF CURRENT FISCAL YEAR
Topics:


Related Articles
MFS DATANET KEEPS NASA'S COMPUTER OPERATIONS UP AND RUNNING DURING HEADQUARTERS MOVE
MFS TELECOM SIGNS AGREEMENT WITH SOUTHERN NEW ENGLAND TELEPHONE TO USE ITS FIBER FACILITIES IN HARTFORD, CONN.
MFS INTELENET GRANTED FULL COMPETITIVE LOCAL EXCHANGE SERVICE AUTHORITY IN MARYLAND; FIRST COMPETITIVE CARRIER TO RECEIVE 'CO-CARRIER' STATUS
MFS ANNOUNCES EXPANSION OF SERVICES TO STAMFORD, CONN.; EXTENDS HISTORIC AGREEMENT WITH SOUTHERN NEW ENGLAND TELEPHONE
MFS COMMUNICATIONS COMPANY COMPLETES LANDMARK CO-CARRIER AGREEMENT WITH PACIFIC BELL
SUNGARD(R) BUILDING PRIVATE RING AND INTER-EXCHANGE SONET CAPABILITY BETWEEN NEW YORK AND PHILADELPHIA
MFS COMPLETES LANDMARK REGIONAL CO-CARRIER INTERCONNECTION AGREEMENT WITH AMERITECH
MFS EXECUTES CO-CARRIER INTERCONNECTION AGREEMENT WITH NYNEX
Allegiance Telecom Acquires Switches in New York and Atlanta From US One Communications
Allegiance Telecom Acquires Switches in New York and Atlanta From US One Communications

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters