October 21, 2008
Dubai Financial Market Improves Bandwidth, Business Continuity With Nortel
Dubai Financial Market (Suq Dubayy al-Mali) has improved its bandwidth, reliability and capacity for rapid recovery from natural disaster or network attack, implementing a financial services solution based on optical technology from Nortel(1) (TSX: NT)(NYSE: NT) as part of its business continuity and contingency plans.
The Dubai Financial Market (DFM) is the United Arab Emirates' first official stock exchange and fifth biggest exchange market in the world in capitalization, trading over 105 billion shares in 2007.Deployed in conjunction with Nortel's system integrator, Beta Information Technology, this upgrade satisfies DFM's needs to support the increasing demands on its operational capabilities. A continuous, order-driven and fully automated trading system, as well as a transparent and automated information dissemination mechanism, have been implemented.
DFM now benefits thanks to Nortel from a 100 percent always-on, always-accessible network with complete redundancy and total security. This is essential to ensuring reliable and uninterrupted delivery of high-quality trading and information services to brokers, information suppliers and other market players that require guaranteed business availability vital for financial stock markets.
"In just five years the number of investors in our market has strongly increased from 126,000 to 627,000 in 2007 and our old network did not have enough bandwidth capacity or business continuity safeguards to handle this level of growth," said Hassan Abdulrahman Al Serkal, operation director, DFM. "Nortel's 10 Gigabit Ethernet technology ensures no single point of failure while supporting immense quantities of digital information that can be accessed immediately by all users."
"Implementing the new system had to be completed overnight to avoid any disruption to the daily market activity," said Al Serkal. "The fact Nortel had our network up and running overnight, in less than eight hours, emphasized the high-level of commitment they brought to this project as well as understanding that an organization like DFM works to very tight deadlines that just couldn't be missed."
"From an IT perspective, easy management and maintenance is as important as network performance. To identify and resolve problems and performance bottlenecks before they impact network services is vital to ensure business-critical applications run without any disruption," said Ramin Attari, president, Nortel Middle East. "DFM IT staff can now manage and administer the network using simple graphical user interfaces and processes, liberating limited resources that can be deployed where needed."
DFM's network is based on Nortel Ethernet Routing Switch (ERS) 8600 at the core, which supports full Power over Ethernet, leveraging Nortel's actively resilient switch cluster capability; complemented by multiple stacks of Nortel Ethernet Routing Switch 5520s to build a resilient 10 Gigabit Ethernet backbone and to deliver high-density Gigabit connectivity to the desktops of customers and users, regardless of product vendor.
Nortel has the vision, expertise and breadth of technology to help financial services firms create competitive advantage, build solid customer connections and secure critical business information. Nortel is behind the world's largest and most important stock exchanges, supporting billions of transactions in New York, Australia, Sao Paulo, Buenos Aires, Shanghai, Mumbai and Seoul. More than 80 percent of the top 100 banks in the United States rely on Nortel.
About Dubai Financial Market
Dubai Financial Market (DFM) was established as a public institution having its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. For more information, visit DFM at www.dfm.ae(2).
Nortel is a recognized leader in delivering communications capabilities that make the promise of Business Made Simple a reality for our customers. Our next-generation technologies, for both service provider and enterprise networks, support multimedia and business-critical applications. Nortel's technologies are designed to help eliminate today's barriers to efficiency, speed and performance by simplifying networks and connecting people to the information they need, when they need it. Nortel does business in more than 150 countries around the world. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.
Certain statements in this press release may contain words such as "could", "expects", "may", "anticipates", "believes", "intends", "estimates", "targets", "envisions", "seeks" and other similar language and are considered forward-looking statements or information under applicable securities legislation. These statements are based on Nortel's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which Nortel operates. These statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and the actual outcome may be materially different from those contemplated in forward-looking statements. For additional information with respect to certain of these and other factors, see Nortel's Annual Report on Form10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC. Unless otherwise required by applicable securities laws, Nortel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
(1) Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks.
(2) This is a 3rd party link as described in our Web linking practices.
Contacts: Nortel Jose-Luis Menoyo +34-917-09-4567 Email: [email protected] Nortel Greta Brown +44-(0)1628-432968 Email: [email protected] Website: www.nortel.com