IRESS Awards Dark Optical Fibre Network Contract to Pipe Networks

Provider of wealth management systems, IRESS has awarded a contract to Pipe Networks, a subsidiary of TPG, to construct a dark optical fibre network. The fiber network will connect more than 200 customer sites in Australia. The objective of the project is to offer low latency services to clients.

The IRESS Optical Network (ION) will offer IRESS clients with the access to ultra low-latency network for trading and market data services. The provisioning team and fibre operations of Pipe will handle the delivery and design of the fibre network. The initial design of the network is already completed. Pipe will deliver the initial critical services of IRESS in December 2010, while the remaining services will be delivered in the early 2011.

Jason Sinclair, the Chief Executive Officer of Pipe Networks, stated that the in-house expertise of the company in low-latency, high bandwidth dark fibre networks enables better competitiveness of the customers. He added that the new contract is a significant strategic agreement between Pipe Networks and IRESS.