The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Perseus Beats Rivals to Live London to Frankfurt Microwave Service

Perseus Telecom has announced that it has been in live operation since last October with a London to Frankfurt microwave service linking key marketplaces in each financial centre. The announcement comes as rival Colt Technology Services confirmed to Low-Latency.com that its microwave service – based on a network built by Custom Connect MW – is undergoing final tests, but is yet to go live.

Perseus CEO Jock Percy declines to say which technology partners it has worked with for its service, or indeed what they are providing. Likewise, he is not saying how many firms are using the service. He does venture, however, that it is not working with Custom Connect, and that its proprietary service has been “successful and availability is excellent.” For its part, Custom Connect previously said it had sold 60% of the capacity on its service.

Both Perseus and Colt are offering microwave service between NYSE Euronext’s Basildon data centre (housing the Euronext cash and Liffe derivatives markets) and Equinix in Frankfurt (where Deutsche Boerse’s cash and its Eurex derivatives market are housed). Trading strategies that arbitrage between the markets benefit from the lowest latency of transactions.

Both services offer essentially the same latency. Colt does not provide performance data, but Custom Connect says its network has a Basildon-to-Frankfurt roundtrip latency of 4.74 milliseconds, while Perseus quotes “less than 4.6 milliseconds.” Similarly, both are citing 99% or higher uptime.

In addition, Perseus is linking into other London data centres to connect to the London Stock Exchange, London Metal Exchange, Bats Europe, and other markets. Percy declines to outline the network topology it has deployed.

In addition to microwave, Colt also offers fibre connectivity between Basildon and Frankfurt, an offering also provided by Perseus. Percy says it has three fibre routes in place, the fastest being less than 8.3 milliseconds roundtrip.  When weather conditions make microwave unreliable, trading firms need to revert to fibre for communications.

In addition to Colt, Fixnetix is also selling capacity on the Custom Connect network as part of its managed service offering.

Related content

WEBINAR

Recorded Webinar: Market data in the cloud

The Covid-19 pandemic has created new demand for financial information delivery infrastructure to accommodate the many trading and support personnel now working from home (WFH). For many firms, new cloud delivery and hosting capabilities offer a viable solution for supporting these staff, accelerating demand for cloud-based market data delivery infrastructures. This development has thrown up...

BLOG

Broadway Technology Recruits Michael Chin as CEO

In an expansion of its executive team, Broadway Technology, the front-office solutions provider, has appointed Michael Chin as CEO. Chin will also join the company’s board of directors. Co-Founder Tyler Moeller, who previously served as CEO, will now take on the role of Chief Innovation Officer. This is a significant appointment for Broadway. Chin brings...

EVENT

RegTech Summit London

Now in its 5th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulation and Risk as Data Management Drivers

A-Team Group recently held a webinar on the topic of Regulation and Risk as Data Management Drivers. Fill in the form to get immediate access to the accompanying Special Report. Alongside death and taxes, perhaps the only other certainty in life is that regulation of the financial markets will increase in future years. How do...