Verizon expands low latency financial network to 50 new markets
Verizon Enterprise Solutions (NYSE: VZ) has expanded its Verizon Financial Network (VFN) serving trading companies to more than 50 markets throughout Europe and North America.
Offered to customers as a dedicated infrastructure-as-a-service solution, financial companies use it to consolidate market access, distribute markets and services and collaborate with clients and partners, and execute pre-trade, trade and post-trade transactions.
Through the expansion effort, the VFN will give trading firms access to more than 75 markets, applications and data centers to connect their trading applications co-located with various financial exchanges.
"With our next-generation release of the Verizon Financial Network, we've greatly expanded its utility to deliver a fully managed solution that provides market participants with on-demand and high performance access to the world's leading and most diverse trading marketplaces," said Chandan Sharma, global managing director of financial services at Verizon Enterprise Solutions, in a release.
It also enables exchanges, service providers and financial technology companies to access a global ecosystem of financial firms and data centers in key markets including London, Paris, Frankfurt, Zurich, New York and Chicago.
Deepening its presence in growing market segments such as the financial sector makes sense as Verizon tries to expand its business service revenue mix.
While it does not break out specific VFN revenues, in the fourth quarter of 2013 strategic enterprise revenue grew 2.3 percent year-over-year to $2.14 billion due to strong sales of data center, cloud and security services. Strategic services now make up 59 percent of Verizon's global enterprise revenue.
- see the expansion release
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