Jarrod Yuster, Pico founder and CEO

Jarrod Yuster, Pico founder and CEO

Pico, a provider of technology services for the financial markets, has launched an optical dark-fiber network with capacity of up to ten terabits per second (Tbps), initially connecting Wall Street liquidity centers Equinix NY4 (Secaucus), Nasdaq (Carteret), Intercontinental Exchange NYSE (Mahwah), and Cyxtera NJ2 (Weehawken).

The transition to dark-fiber is the latest investment Pico has made in PicoNet, a private and proprietary global financial markets network that provides its clients with low-latency, resilient connectivity to hundreds of liquidity sources, information providers and counterparties around the world, it said in a statement.

“With ever-rising market data rates and an increasing need for global data sets, it is important to provide clients with a solution that allows them to keep ahead of the bandwidth curve and retain their operating edge.” said Jarrod Yuster, Pico founder and CEO. “We built this leading-edge network with best-of-breed and trusted technology partners to create a new performance benchmark for network solutions in financial markets.”

This will significantly enhance the profile of PicoNet, leveraging the combined power of the fastest dark-fiber routes available and the lowest-latency active optical equipment in the industry, the company said. PicoNet uses full ROADM functionality to route traffic optically between sites, instead of traversing multiple switches, reducing latency and operational complexity. In conjunction with its full suite of offerings, the core backbone capacity allows Pico to provision dedicated 100Gbps capacity links directly to clients.

The fully redundant, resilient dual-fiber mesh network will provide clients with the capability to access multiple data centres for trading and market data, Pico said.

“It is critical to have sufficient bandwidth to mitigate the risk of high volume, bursty data feeds causing excess latency and data gaps that result in poor outcomes for modern electronic trading strategies,” said Donal Byrne, Pico CTO. “The tremendous capacity available now on the new Pico optical backbone, coupled with Corvil analytics to continuously monitor and analyze the traffic in real-time, uniquely assures the quality, integrity and capacity delivered to our clients.”

The transition to a multi-terabit per second optical backbone for the northeast US markets is the latest step in a series of initiatives that Pico has undertaken to enhance the profile of its network offering.

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by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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