SIA deals with Verizon for long distance telecomms

SIA deals with Verizon for long distance telecomms

The US Securities Industry Association (SIA) is to recommend Verizon to its member institutions as a preferred provider of long-distance voice and data communications services.

Under the deal, SIA members will receive competitive pricing, terms, and conditions on Verizon's domestic and international long-distance voice and data and business continuity and disaster recovery services.

Donald Kittell, executive vice president, SIA, says: "Verizon's entry and commitment to the long distance market, combined with its long standing and successful offering to SIA member firms of local communications services provides a remarkable opportunity for securities firms."

The SIA estimates that the market for telecommunications services to the securities industry is in excess of $2 billion annually. "The cost benefits to SIA members are projected to approach $100 million annually by 2006," adds Kittell.

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