Data center operator Colt announced this Tuesday that it is launching a network in the US. The company will be providing financial firms with self-service and on-demand bandwidth solutions that should speed up their connectivity to financial hubs in Europe and Asia.
The firm’s announcement noted that it has already connected 13 major cities in North America, including Chicago, New York, and San Francisco, to its Asian and European networks.
This is significant because, in Europe and Asia, Colt runs its own network – the Colt IQ Network. As it runs the network itself, the firm can provide a service that isn’t bogged down by any old technology or forced to lag as a result of the traditional network service chain.
Tales from TIOmarkets: Not Just Another Trading CompetitionGo to article >>
For the ‘average joe,’ this might not be such a problem, but this is not the case for trading firms who are constantly fighting to improve their network speeds. As many service providers, like big banks, are a patchwork of legacy systems and modern tech, they are often unable to meet these demands.
On top of the speed element, Colt’s network offers businesses a more agile approach towards their network connection. For instance, firms can sign up to receive their service in a matter of minutes and, rather than a fixed contract, they can set when to turn bandwidth up or down.
Carl Grivner, Chief Executive Officer of Colt, commented on today’s announcement, saying: “We know from our experience that business agility and the need for real-time response to customers is vital for large enterprises and financial firms. Colt is able to deliver on both counts. We’re privately held, affiliated with Fidelity Investments, and have the freedom to act extremely rapidly in a market characterized by unique, on-demand requirements.”