Launch of ASX Net with Fibre Provided by PIPE Networks
The Australian Securities Exchange (ASX) has today announced it will launch ASX Net, a fully managed, low latency, high capacity network solution for connectivity to the Australian financial market, in September 2010.
ASX Net will support the transfer of multiple data feeds and allow clients to determine the products, services and liquidity they wish to access, including all ASX products and services, through a single connection point. This will reduce costs and complexity for clients.
One of the key features of ASX Net is its incorporation of the latest technology. To this end, Australian company PIPE Networks will provide low latency, high bandwidth dark fibre for ASX Net. This will replace ASX’s existing customer network, ASX NiPPA.
David Raper, ASX’s General Manager, Trade Execution and Information Services, said: “ASX Net will offer clients expanded network capacity through greater bandwidth, lower latency via fibre optic cabling, and multiple connectivity options with access to ASX and third-party services and venues.
“ASX Net supports the current and future growth of Australian financial market data without the requirement for disruptive bandwidth upgrades. In an environment with escalating capacity demands and a need for latency minimisation to remain competitive, ASX Net provides an access solution for Australian financial market participants for today and into the future.”
PIPE Networks Group Chief Operating Officer, Jason Sinclair, said: “In selecting dark fibre, ASX has joined the global convergence toward high-bandwidth, low latency telecommunications solutions, particularly in the finance industry. We will deliver a hard spliced dark fibre network, leaving ASX free to ‘light’ the fibre with its own network equipment and control the speeds it requires.”
Delivery of the fibre for ASX Net will be handled by PIPE’s ISO 9001 certified Fibre Operations and Provisioning Team. With network design largely complete, work has already commenced on provisioning the network and is due for a phased in cut over starting in September with completion by October this year.
ASX Net will be initially implemented to support the new trading system ASX Trade, with access to additional ASX and third-party services made available progressively thereafter.