(NT.TO) SIAC, Nortel Networks Provide Safe, Reliable Connection to SIAC — NYSE, AMEX, CTA, OPRA, DTCC
NEW YORK–(BUSINESS WIRE)–June 26, 2003–
Optical Ethernet Technology Provides Enhanced Network Security for
Financial Enterprise Customers
The Securities Industry Automation Corporation (SIAC), the technology subsidiary of the New York Stock Exchange (NYSE) and the American Stock Exchange (AMEX), today announced that it has reached a milestone with its Secure Financial Transaction Infrastructure (SFTI) initiative, signing over 100 enterprise customers to its secure network. Less than two years after the events of September 11, 2001, all of SFTI’s access centers are up and running, with 35 firms already connected and receiving or transmitting live data through SFTI.
Corresponding with the world’s heightened concern regarding man-made and natural disasters, business continuity planning and network resiliency have become the top priority for the financial sector. In response, SIAC designed the SFTI network to provide financial institutions with a more resilient and reliable method of accessing the services SIAC provides on behalf of the NYSE, AMEX, CTA, OPRA and DTCC.
Based on an Optical Ethernet solution utilizing network components from Nortel Networks (NYSE:NT)(TSE:NT), SFTI uses designated access centers and a highly redundant infrastructure to offer firms physically and geographically diverse routing, thus reducing the likelihood of service-impacting outages. Nortel Networks Optical Ethernet solutions for the enterprise combine the simplicity, flexibility and cost-effectiveness of Ethernet with the high reliability, speed and reach of optics, allowing for a safe, simple and resilient infrastructure. SFTI was deployed in September 2002, and approximately 1,000 customers are expected to be transferred to the new network by 2004. In addition to the Optical Ethernet solutions, SIAC also relies on Nortel Networks Passport 8600 Routing Switch to provide Layer 3 switching capabilities to both NYSE and AMEX.
“The events of September 11, 2001, showed that the financial industry needed a more secure and reliable way to transmit data communications,” said Steven Romano, general manager, SFTI and senior vice president, SIAC. “Working with Nortel Networks has been extremely helpful to the development and implementation of SFTI.”
The SFTI infrastructure is comprised of multiple Data Centers and numerous Access Centers in the New York, Boston and Chicago area, interconnected by a fiber optic backbone. The backbone network is comprised of Nortel Networks OPTera Metro 3500 Multiservice Platform devices forming a SONET ring running Resilient Packet Ring (RPR) technology. RPR enables efficient use of network resources and flexible transport of the SFTI Ethernet traffic, while taking advantage of the inherent resiliency of the SONET infrastructure, ensuring high reliability and availability.
“Nortel Networks is pleased to be a part of the infrastructure that enables the efficient transmission of mission-critical data to Wall Street,” said Marco Pagani, president, Optical Ethernet and Storage Solutions, Nortel Networks. “Given the most recent events of our time, the benefits of a safe and reliable network are top of mind for many enterprise customers, and Nortel Networks is committed to delivering solutions that enable that degree of business continuity.”
As part of Nortel Networks ‘One network, A world of choice.’ enterprise vision, Nortel Networks Optical Ethernet solutions for the enterprise offer a scalable, simple and resilient infrastructure to increase the competitiveness and responsiveness of enterprises as they seek a profitable and responsive business model for serving their clients and customers.
‘One network. A world of choice.’ is about raising the bar with a new level of customer and employee engagement where and how the network is accessed while offering enterprises the power of choice in deployment options through leading solutions in IP Telephony, applications, data and optical networking.
Nortel Networks comprehensive Optical Ethernet portfolio – including OPTera Metro Multiservice Platforms, OPTera Long Haul Optical Line Systems, OPTera Connect Optical Switches, and Ethernet Service Switches – enables delivery of Ethernet services across service provider and enterprise networks. Nortel Networks is the only vendor that provides a complete set of Ethernet services via Ethernet over fiber, Ethernet over SONET/SDH and Ethernet over WDM. According to IDC, Nortel Networks was the worldwide leader in the Ethernet DWDM and SONET MSPP segments of the Optical Ethernet market for 2002 and the #2 vendor in the Metro Ethernet Layer 2/3 switch equipment market for 2002.
SIAC began its operations on July 17, 1972 as a wholly owned subsidiary of the NYSE and AMEX. SIAC is the technology subsidiary of the New York Stock Exchange (NYSE) and the American Stock Exchange (AMEX), with responsibility for the design, development, implementation and operation of the exchanges’ computer systems and communications networks. SIAC operates clearance and settlement systems on behalf of the Clearing Corporations. SIAC also disseminates U.S. market data worldwide. Information about SIAC can be found on the Web at www.siac.com. Further information about SFTI can be found at www.sfti.siac.com.
Nortel Networks is an industry leader and innovator focused on transforming how the world communicates and exchanges information. The Company is supplying its service provider and enterprise customers with communications technology and infrastructure to enable value-added IP data, voice and multimedia services spanning Wireless Networks, Wireline Networks, Enterprise Networks, and Optical Networks. As a global company, Nortel Networks does business in more than 150 countries. More information about Nortel Networks can be found on the Web at www.nortelnetworks.com.
Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the severity and duration of the industry adjustment; the sufficiency of our restructuring activities, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions; fluctuations in operating results and general industry, economic and market conditions and growth rates; the ability to recruit and retain qualified employees; fluctuations in cash flow, the level of outstanding debt and debt ratings; the ability to meet financial covenants contained in our credit agreements; the ability to make acquisitions and/or integrate the operations and technologies of acquired businesses in an effective manner; the impact of rapid technological and market change; the impact of price and product competition; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of rationalization in the telecommunications industry; the dependence on new product development; the uncertainties of the Internet; the impact of the credit risks of our customers and the impact of customer financing and commitments; stock market volatility; the entrance into an increased number of supply and outsourcing contracts which contain delivery and installation provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; the ability to obtain timely, adequate and reasonably priced component parts from suppliers and internal manufacturing capacity; the future success of our strategic alliances; and the adverse resolution of litigation. For additional information with respect to certain of these and other factors, see the reports filed by Nortel Networks with the United States Securities and Exchange Commission. Unless otherwise required by applicable securities laws, Nortel Networks disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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