Metromedia Fiber Network, Inc. (MFN) (Nasdaq: MFNX), a provider of digital communications infrastructure solutions, will provide Archipelago, a Chicago-based electronic communications network (ECN), with private high-bandwidth metro area optical Internet infrastructure and co-location services. Archipelago will use the private optical network to connect its New York and Chicago facilities in a real-time disaster recovery system to protect customer data.
Under the 10-year agreement, MFN will lease fiber-optic infrastructure to Archipelago allowing the ECN to securely connect its Data Center and Communications Disaster Recovery facilities and support trading operations. Additionally, Archipelago will take advantage of MFN's extensive co-location facilities enabling it to eliminate the local loop charges normally associated with connecting to multiple telecommunication service providers. This agreement provides Archipelago with its own dedicated and unshared communications network, and the ability to add bandwidth to meet increased trading volume and demand.
Archipelago was formed in December 1996 with software developer Townsend Analytics. It is one of the original four ECNs approved in January 1997 by the U.S. Securities and Exchange Commission (SEC). Archipelago uses a proprietary algorithm to find the best price for orders and provides an open limit order book for Nasdaq and listed stocks. For more information, visit www.tradearca.com.
About Metromedia Fiber Network, Inc.:
Metromedia Fiber Network is a provider of digital communications infrastructure solutions. For more information, visit www.mfn.com.