Exclusive: PrimeXM Networks to Remove Cross Connects to CNS This Weekend
- The company has sent out a letter to its clients informing them that it will be disconnecting its dedicated fiber with the VPS service provider
Finance Magnates reporters have learned that PrimeXM’s unit which owns and maintains the company’s data center infrastructure, PrimeXM Networks, will be disconnecting the dedicated fiber routes to Commercial Network Services (CNS).
According to a letter distributed to clients of PrimeXM, the network infrastructure of the company can be reached via public Internet or via dedicated private fiber connections, which are also known as cross connects.
Recently, PrimeXM introduced a monthly fee for all the cross connects which it is maintaining due to the associated costs of maintenance of the network, totaling $500 per month.
Finance Magnates has already reported on a spat between CNS and PrimeXM last year, after the issue of additional fees was raised by the virtual private server (VPS) service provider. At the time, the CEO of CNS, Barry Barhami, refused to pay any fees and requested from PrimeXM a monthly payment for connectivity fees, providing his reasoning in an official statement on the company's website. The companies have exchanged a number of public statements shedding light on the dispute.
As clients of PrimeXM have been notified that the company will be removing the CNS cross connects starting this weekend, the firm has explained that clients will still be able to connect to PrimeXM via Internet or via alternative providers.
The company statement to clients proceeds with a recommendation to use the services of alternative VPS providers like BeeksFX, GuavaTech and UltraFX VPS.
According to information obtained by Finance Magnates reporters, the cross connect fees charged by various aggregation engines and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers in the industry only start from $500 per month. In some cases they can reach as high as $5000 which naturally applies mainly to dedicated services provided to institutional grade customers.
CNS Response
Update: CNS has issued a statement on its website addressing clients, including a number of big brokers such as ADS Securities, LMAX and Saxo Bank.
"Please be advised we have been notified by PrimeXM that they intend to terminate ON NET connectivity to the CNS network in NYC and UK this coming weekend. PrimeXM provides mainly back-end services (including MT4/5 server hosting) to FOREX brokers. CNS currently peers with more than 1000 networks worldwide, all settlement free. This provides not only an ideal connection between your trading applications and your broker, but also between you and your hosted VM. PrimeXM has been enjoying free ON NET connectivity to the CNS network in NYC and UK for some time.
On Tuesday morning, we received from PrimeXM a demand for payment to continue these same free peering connections you are already enjoying if you trade with a broker hosted by PrimeXM. They say this fee is to “cover connectivity demand and maintain the security and scalability of our infrastructure”. What they fail to consider is that we also have our own costs to maintain these very same things.
Peering is all about providing good connectivity to mutual customers. In at least one case that I am aware of, PrimeXM is utilizing ON NET to communicate with their very own customer’s MT4 server clear across the Atlantic Ocean. Clearly, PrimeXM does not understand the benefit these peering links are providing them, their customer brokers, you the end-trader and CNS. We maintain this network free of charge for all ON NET participants."
The full statement can be read on the website of Commercial Network Services.
In addition, the company has sent out a request to a number of financial regulators, including the names of the brokers affected by the issue. The contents of the document can be read on the link below.
Finance Magnates reporters have learned that PrimeXM’s unit which owns and maintains the company’s data center infrastructure, PrimeXM Networks, will be disconnecting the dedicated fiber routes to Commercial Network Services (CNS).
According to a letter distributed to clients of PrimeXM, the network infrastructure of the company can be reached via public Internet or via dedicated private fiber connections, which are also known as cross connects.
Recently, PrimeXM introduced a monthly fee for all the cross connects which it is maintaining due to the associated costs of maintenance of the network, totaling $500 per month.
Finance Magnates has already reported on a spat between CNS and PrimeXM last year, after the issue of additional fees was raised by the virtual private server (VPS) service provider. At the time, the CEO of CNS, Barry Barhami, refused to pay any fees and requested from PrimeXM a monthly payment for connectivity fees, providing his reasoning in an official statement on the company's website. The companies have exchanged a number of public statements shedding light on the dispute.
As clients of PrimeXM have been notified that the company will be removing the CNS cross connects starting this weekend, the firm has explained that clients will still be able to connect to PrimeXM via Internet or via alternative providers.
The company statement to clients proceeds with a recommendation to use the services of alternative VPS providers like BeeksFX, GuavaTech and UltraFX VPS.
According to information obtained by Finance Magnates reporters, the cross connect fees charged by various aggregation engines and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers in the industry only start from $500 per month. In some cases they can reach as high as $5000 which naturally applies mainly to dedicated services provided to institutional grade customers.
CNS Response
Update: CNS has issued a statement on its website addressing clients, including a number of big brokers such as ADS Securities, LMAX and Saxo Bank.
"Please be advised we have been notified by PrimeXM that they intend to terminate ON NET connectivity to the CNS network in NYC and UK this coming weekend. PrimeXM provides mainly back-end services (including MT4/5 server hosting) to FOREX brokers. CNS currently peers with more than 1000 networks worldwide, all settlement free. This provides not only an ideal connection between your trading applications and your broker, but also between you and your hosted VM. PrimeXM has been enjoying free ON NET connectivity to the CNS network in NYC and UK for some time.
On Tuesday morning, we received from PrimeXM a demand for payment to continue these same free peering connections you are already enjoying if you trade with a broker hosted by PrimeXM. They say this fee is to “cover connectivity demand and maintain the security and scalability of our infrastructure”. What they fail to consider is that we also have our own costs to maintain these very same things.
Peering is all about providing good connectivity to mutual customers. In at least one case that I am aware of, PrimeXM is utilizing ON NET to communicate with their very own customer’s MT4 server clear across the Atlantic Ocean. Clearly, PrimeXM does not understand the benefit these peering links are providing them, their customer brokers, you the end-trader and CNS. We maintain this network free of charge for all ON NET participants."
The full statement can be read on the website of Commercial Network Services.
In addition, the company has sent out a request to a number of financial regulators, including the names of the brokers affected by the issue. The contents of the document can be read on the link below.