Jan 18 2011
Hibernia Atlantic, pioneer in high-bandwidth fiber-optic connectivity, has secured $250 million funds from Huawei Marine Networks for a low latency fiber optic cable system linking London and New York City.
The Project Express, which was declared in September 2010, will provide connectivity with a latency of sub 60 ms to its Global Financial Network (GFN) customers such as global banks, merchants and exchanges. It will be the shortest route from London to New York and provides low latency connectivity to financial centers including New York City, Chicago, Toronto, Frankfurt and London.
Hibernia's Project Express will be utilizing 40 G technology, which will be upgraded to 100 G to satisfy future demands. The project is anticipated to be over during the summer of 2012. Once finished, it will be the quickest route in the Atlantic Ocean.
The Vice President of Business Development at Hibernia Atlantic, Mike Saunders said that the first phase of the Project Express comprises deployment of a new cable from Somerset in the UK to Halifax in Canada. It will then be connected to Hibernia’s existing, low latency cable between Halifax and New York. He further said that the company would construct the cable system to meet future expansion for extra latency improvements in Europe and the U.S.