|
 |
 |
Your Location: Home / News & Events / News Releases
December 16
Bombay Stock Exchange Merges Separate Networks Using Nortel Networks Solution
MUMBAI, India – The Bombay Stock Exchange, India’s largest financial exchange, has upgraded its trading network by merging three previously separate networks into one core backbone based on an Ethernet switch solution from Nortel Networks* [NYSE/TSX: NT].
By combining its networks into one, the Bombay Stock Exchange is now positioned to provide faster, more reliable and more secure services to brokers over a more efficient, more manageable and more cost-effective network. "With the growth in trading activity in the Bombay Stock Exchange, Nortel Networks sophisticated products have helped us significantly grow the scale, scope and quality of our services," said S. B. Patankar, director, Information Services, Bombay Stock Exchange. "In the operation of a stock exchange, downtime leads to huge losses in revenues and opportunities. Nortel Networks has delivered a fast, more reliable, robust and secure network that will revolutionise the way business is conducted at the Bombay Stock Exchange," Patankar said. Nortel Networks helped the Bombay Stock Exchange merge its local area network (LAN), wide area network (WAN) and Very Small Aperture Terminal (VSAT) into one core backbone based on Nortel Networks Passport* 8600 Ethernet Switch. This new merged network connects approximately 3,000 WAN routers to make multiple applications readily available to more than 10,000 trader workstations in one of the most demanding on-line trading environments in the world. "Nortel Networks provides technology solutions to major financial exchanges around the globe," said Ashoka Valia, managing director, India, Nortel Networks. "Millions of investors in India stand to gain through a 'state-of-the-art' network that will enable fast, reliable, and secure financial transactions." Nortel Networks Passport 8600 provides reliability, scalability, and manageability, as well as the full multicast functionality required by modern day trading rooms. Multicast technology underlies all stock exchanges worldwide and is a key component of the scalable migration path designed by Nortel Networks. This assists the Bombay Stock Exchange’s Online Trading application, whose software is currently broadcast-oriented. Other elements of the new network include Backbone Node Router, Advanced Remote Node (ARN), Nortel Networks BayStack* Ethernet switches, Nortel Networks Optivity* network management, and Nortel Networks Alteon* Web switches. The Bombay Stock Exchange was established in 1875 as "The Native Stock Broker’s Association". It is a voluntary non-profit organization and over the years has remained as the premier stock exchange in the country. The Bombay Stock Exchange is the oldest stock exchange in Asia, with over 7500 scrips listed amounting to over 90 percent of market capitalization. Nortel Networks is an industry leader and innovator focused on transforming how the world communicates and exchanges information. The Company is supplying its service provider and enterprise customers with communications technology and infrastructure to enable value-added IP data, voice and multimedia services spanning Wireless Networks, Wireline Networks, Enterprise Networks, and Optical Networks. As a global company, Nortel Networks does business in more than 150 countries. More information about Nortel Networks can be found on the Web at www.nortelnetworks.com. Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the severity and duration of the industry adjustment; the sufficiency of our restructuring activities, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions; fluctuations in operating results and general industry, economic and market conditions and growth rates; the ability to recruit and retain qualified employees; fluctuations in cash flow, the level of outstanding debt and debt ratings; the ability to meet financial covenants contained in our credit agreements; the ability to make acquisitions and/or integrate the operations and technologies of acquired businesses in an effective manner; the impact of rapid technological and market change; the impact of price and product competition; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of rationalization in the telecommunications industry; the dependence on new product development; the uncertainties of the Internet; the impact of the credit risks of our customers and the impact of increased provision of customer financing and commitments; stock market volatility; the entrance into an increased number of supply, turnkey, and outsourcing contracts which contain delivery, installation, and performance provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; the ability to obtain timely, adequate and reasonably priced component parts from suppliers and internal manufacturing capacity; the future success of our strategic alliances; and the adverse resolution of litigation. For additional information with respect to certain of these and other factors, see the reports filed by Nortel Networks with the United States Securities and Exchange Commission. Unless otherwise required by applicable securities laws, Nortel Networks disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. *Nortel Networks, the Nortel Networks logo, the Globemark, Passport, BayStack, Optivity and Alteon are trademarks of Nortel Networks. Contact for Press and Analysts:Kshipra Kumar
Nortel Networks
91-80-5592088
kshipra@nortel.com
Pat Cooper
Nortel Networks
408-495-9608
pat.cooper@nortel.com
Additional Media & Analyst Contacts
