19 May 2003 New York, NY Lightwave--Metromedia Fiber Network, Inc. (MFN), is providing a private, unshared fiber-optic network to the New York Mercantile Exchange, the largest physical commodities exchange in the world. MFN will connect the Exchange's trading floor with its back-up facility to allow for real-time mirroring of data.
MFN will use its WaveChannel service, which combines dark fiber and DWDM equipment to create a fully-managed, private and unshared wavelength-based optical network capable of supporting the organization's mission- critical applications. The Exchange will be able to quickly and efficiently provision additional bandwidth as needed simply by lighting another wavelength on the installed fiber. ADVA Optical Networking, a global provider of metro optical networking solutions, will partner with MFN to provide the equipment for this DWDM-based solution.
"Our business moves quickly transmitting volumes of information representing billions of dollars each day," said J. Robert Collins, Jr., president of the Exchange. "Real-time secure back up is essential to the way we do business and we rely on fiber optics to facilitate this production recovery environment."
"For financial institutions like the New York Mercantile Exchange, security is a paramount concern and a few minutes of data can represent hundreds of millions of dollars, which is why our unshared network service is the solution of choice," said John Gerdelman, president and chief executive officer. "MFN's Wavechannel service will provide the Exchange with the security, unlimited scalability and a high-speed connection it needs now and as it grows. This connection will allow the Exchange to share information in real-time between secure locations and over a secure connection, adding a layer of redundancy and reliability to its operations."
A year ago, Metromedia Fiber Network, Inc. and most of its domestic subsidiaries including PAIX.net, Inc. commenced voluntary Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York.