7. November 2007
ICAP to Introduce New Premium Connectivity Service through Partnership with Equinix
i-Cross Offers High Bandwidth, Low Latency Access to EBS and BrokerTec Services to Customers Trading in North America
London, UK and Foster City, CA — November 7, 2007 — ICAP plc (IAP.L), the world's premier interdealer broker, and Equinix, Inc. (Nasdaq: EQIX), the leading provider of network-neutral data centers and Internet exchange services, today announced the introduction of a new premium ICAP connectivity service for financial market participants trading in North America. The new service, i-Cross, will provide a high-bandwidth, low latency connection to both ICAP's BrokerTec and EBS platforms from a common data center for the first time. The i-Cross service will be available before the end of the year.
The new service will facilitate the hosting of customers' equipment and network connectivity within two of Equinix's Internet Business Exchange™ (IBX®) centers in the New York region, ensuring the fastest possible data exchange platform. i-Cross will be available to all customers trading benchmark U.S. Treasuries on the BrokerTec platform and to all customers trading on the EBS platform via its Spot Ai trading application in North America.
Customers will also have access to ICAP's market data solutions, including EBS Live - a premium product of real-time streaming prices, delivered direct from the EBS platform to the customer's market data distribution platform - and the BO23 broadcast, which provides full order depth on the BrokerTec platform.
Ed Brown, Head of Business Development and Research, ICAP Electronic Broking said: “Financial institutions are increasingly looking for high-speed, low-latency access options that meet the demands of their changing trading strategies. By working together with Equinix to offer this premium connectivity service, we are offering our customers greatly enhanced access to both the EBS and BrokerTec platforms. For the first time, customers will be able to connect to both platforms from a common data center.”
“Equinix's network-rich centers will provide a high-performance connectivity platform for ICAP customers as they seek the fastest and most reliable links to ICAP's BrokerTec and EBS services,” said Steve Smith, president and CEO of Equinix. “Similarly, as Equinix has a high concentration of financial customers at its New York area centers, the addition of ICAP and the ability to directly connect with their trading platforms will enhance our service offering to financial companies already hosted at Equinix.”
ICAP will deliver the i-Cross service within Equinix's recently opened NY4 IBX data center, leveraging Equinix's multi-million dollar investment in the new building that features financial-grade quality and redundancy, including industry-leading security, environmental control and power availability.
ICAP is the world's premier voice and electronic interdealer broker and the source of global market information and commentary for professionals in the international financial markets. The Group is active in the wholesale markets in interest rates, credit, energy, foreign exchange and equity derivatives. ICAP has an average daily transaction volume in excess of $1.5 trillion, more than 50% of which is electronic. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of IXEurope into Equinix; a failure to receive significant revenue from customers in recently built out data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; the results of any litigation relating to past stock option grants and practices; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix, Inc. Internet Business Exchange is a trademark of Equinix, Inc.