HERNDON, Va., June 9, 2010 — RCN Metro Optical Networks, a division of RCN Corporation (NASDAQ: RCNI) and a premier provider of fiber optic-based network solutions, announced today continued momentum and growth in the financial services industry. The Company’s strength in this segment is evidenced by double-digit revenue growth over the last 18 months.
“According to a recent study by Atlantic-ACM, New York retail metro transport spend is predominantly driven by the financial services industry, who require both connectivity between office facilities, data centers and financial exchanges,” says Dr. Judy Reed-Smith of Atlantic-ACM. “RCN Metro is one of the leading providers of high speed connectivity for Financial services with 18.4% market share in New York Metro area in 2009.”
With more than a decade of experience serving the financial services industry, RCN Metro has a deep understanding of the requirements, applications and issues that this segment faces. It has been able to develop services and solutions tailored to meet those needs as evidenced by the nearly 250 financial institutions they serve and it is connected to 17 of the world’s leading financial exchanges spanning its network footprint, including New York, New Jersey, Philadelphia, Boston, Washington, D.C., Chicago and Toronto.
“Today, nearly every trade conducted on the NY-based financial exchanges touches our network; a network that has become synonymous with reliability, scalability, and low-latency,” said Felipe Alvarez, President, RCN Metro. “The financial services industry has always been one area of great strength for us. We’ve experienced dramatic growth in this market over the past year and plan to build on this momentum in the year ahead with the lighting of our Xtreme Ultra-Low Latency Network and further expansion into financial exchanges and colocation facilities.”
RCN Metro’s newly lit “Xtreme Ultra-Low Latency Network” is a one of a kind, high capacity, high availability network ring featuring a state-of-the-art ROADM/DWDM-based core infrastructure, offering a capacity of 88 40 Gig channels with growth to 100 Gig channels via 17 spans. Each span on the Xtreme Ultra-Low Latency Network has the capability of transporting 88 100 Gig channels. This network connects to the key exchanges and data centers relevant to financial services firms.
Unlike other commercial networks, the Xtreme Ultra-Low Latency Network has the ability to keep traffic within New Jersey or extend out into New York, based on a customer’s specific requirements for exchange connectivity. Since plans for this network ring were announced, over 30 customers have purchased connectivity to the Xtreme Ultra-Low Latency Network as well as space in RCN Metro’s state-of-the-art, high-density colocation facility at 165 Halsey St., Newark, NJ.
Other service providers claim to offer networks built for the financial services industry, but RCN Metro is the only provider to offer guaranteed, ultra low-latency and unmatched connectivity to all of the major financial exchanges and colocation centers in this region.
For more information about RCN Metro’s Xtreme Ultra-Low Latency Network and financial services expertise, visit: www.rcnmetro.com/industry-solutions-financial.php
About RCN Metro Optical Networks
RCN Metro,http://www.rcnmetro.com, is a premier provider of high-capacity transport services for carriers as well as large and medium-sized businesses. RCN Metro offers a comprehensive suite of services including: Ethernet, SONET, Wavelength, Video Transport, Internet and more. With a network leveraging unique rights-of-way, spanning from Maine to Virginia, out to Chicago and up to Toronto, RCN Metro deploys custom solutions to service providers as well as companies in the finance, hospitality, media, government, health care and education industries. RCN Metro is a wholly owned division of RCN Corporation.
About RCN Corporation
RCN Corporation, (NASDAQ: RCNI) www.rcn.com, is a competitive broadband services provider delivering all-digital and high definition video, high-speed internet and premium voice services to residential and small-medium business customers under the brand names of RCN and RCN Business Services, respectively. In addition, through its RCN Metro Optical Networks business unit, RCN delivers fiber-based high-capacity data transport services to large commercial customers, primarily large enterprises and carriers, targeting the metropolitan central business districts in the company’s geographic markets. RCN’s primary service areas include Washington, D.C., Philadelphia, Lehigh Valley (PA), New York City, Boston and Chicago. (RCNI-G)