Source: Paetec
The Securities Industry Association (SIA), an organization bringing together the shared interests of nearly 600 securities firms to accomplish common goals, has selected PAETEC Communications, Inc., to provide IP-based trader voice services to global financial markets. PAETEC's TRADETEC services will be provided to major financial centers via its premier SECURETEC Private-IP MPLS network.
SIA began researching Internet Protocol (IP) voice trading services over a year ago when it issued a formal RFI, reviewed formal bids, and conducted extensive field testing. IP voice trading is attractive for several reasons, including increased operational efficiencies, reduced operational costs, and an inherent disaster recovery capability. The new SIA - PAETEC partnership embraces this concept and will initially focus on IP delivery for Automatic Ring Down, Manual Ring Down, and Hoot & Holler services.
"SIA is pleased to announce our relationship with PAETEC," said SIA President Marc Lackritz. "Financial organizations looking for global IP trading services can now be assured of an innovative, secure, and cost-effective solution."
"We are proud that PAETEC has been selected to provide the trader voice services that help fuel the economy," said PAETEC Chairman and Chief Executive Officer Arunas Chesonis. "PAETEC's unique services, robust network, and unmatched support will provide SIA member firms with a superior offering."
Implementation of this affinity agreement is set to commence shortly and all SIA member firms are able to contract for these services.