SOURCE: RCN Corporation

RCN Corporation

March 03, 2009 07:54 ET

RCN Metro Optical Networks Provides Ethernet Services to T3 Capital, LLC

Leading Private Equity Firm Leverages Low-Latency Network to Advance Trading Environment

NEW YORK, NY--(Marketwire - March 3, 2009) - RCN Metro Optical Networks, a division of RCN Corporation (NASDAQ: RCNI) and a premier provider of fiber optic-based network solutions, announced today that T3 Capital, LLC has joined the many financial services firms who have chosen RCN Metro's dedicated fiber optic network and Ethernet Service for the industry's lowest possible latency connection to the major New York-based financial exchanges.

As a private equity trading firm specializing in the development of both new and experienced traders from around the globe, T3 Capital is a leader in the industry because of its ability to create an optimal environment for successful trading. That environment has now become even more advanced with the fastest, most reliable transport service with the lowest latency possible.

"Our algorithmic trading strategies are very sensitive to network latency. We chose RCN Metro Ethernet for fast, reliable fiber optic connections to New York area ECN data centers," said James Brock, Lead Developer, T3 Capital, LLC. "We strive to provide traders with the finest trading environment possible and selecting RCN Metro's Ethernet service to connect to major NY-based financial exchanges will help us do just that."

Financial service players are competing on how quickly they can act on market information. Low-latency applications are vital to ensuring data gets where it needs to go faster than the competition. In a report released in April 2008, the Tabb Group estimated that if a broker's electronic trading platform is five milliseconds behind its competition, it could lose one percent of its order flow. At 10,000 microseconds, the loss grows to 10 percent.

"More than ever, the financial services industry is demanding low-latency, high speed delivery of data," said Felipe Alvarez, President of RCN Metro. "Our fiber-based network is optimally designed and managed to ensure this type of trading experience; it is also connected to all major financial exchanges via the shortest possible path."

About RCN Metro Optical Networks

RCN Metro, 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 and out to Chicago, 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), http://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)

Contact Information

  • Contact:
    RCN Metro Optical Networks:
    Maura Mahoney
    Vice President of Sales & Marketing
    508-621-1869

    RCN Corporation:
    Lisa Barder
    Director, Communications & PR
    215-355-7175