Verizon speeds up stock trades

Verizon has revealed a new low-latency network for financial services firms that can complete a stock trade between New York and Chicago in as little as 14.5 milliseconds, PC Advisor reports.

The new Verizon Financial Network Premier Low-Latency Service shaves as much as five milliseconds off the company's current offering, a change that can translate into millions of dollars for high-frequency traders.

The new service, which becomes part of the Verizon Financial Network, uses higher performance routers from Ciena and takes the shortest possible path between the two metropolitan areas, IT World writes.

Verizon is targeting the service to global banks, hedge funds, pre- and post-trade service firms and money managers who use high-performance computing algorithms and networks for speedy transactions.

"We're creating a secure, reliable high-speed path along one of the busiest financial trading routes," Market Watch quotes Chandan Sharma, MD of Verizon's financial vertical markets, as saying. "Financial firms operating in the global trading network require high-speed connectivity, allowing them to trade or hedge their positions, all with the goal of protecting capital and reducing financial risk. Verizon's Premier Low-Latency Service is poised to help them do exactly that."