Florham Park, NJ - June 10, 2004 - - Global Crossing (NASDAQ: GLBCE) announced today that Penson Financial Services Canada, a subsidiary of Penson Worldwide, has selected Global Crossing IP VPN Service to facilitate its mission-critical financial services voice and data communications in North America.
Penson Financial Services is a technology pioneer in clearing and execution services, offering a customer-driven platform providing clients with single source-of-execution trade processing and clearing.
Global Crossing IP VPN Service provides the speed, security and flexibility required to support Penson's sensitive data and voice transmissions for its clients over the IP VPN. The nature of these communications necessitates stringent security, speed and availability. Global Crossing is able to meet or exceed these needs with its resilient IP VPN platform.
"Our customers require speedy and accurate transaction settlements and reporting," said Mo Hirani, Penson's chief technology officer. "We are always looking for a technology advantage, and Global Crossing's IP VPN Service delivers the combined benefits of any-to-any connectivity, security and cost efficiencies. Additionally, the IP VPN's flexibility enables us to add new applications such as IP video to leverage our existing investment and further execute on our convergence strategy."
"We're delighted that Penson has joined the community of financial services customers who have selected Global Crossing," said Paul O'Brien, Global Crossing's senior vice president, enterprise sales. "We're committed to supporting their business processes as they continue to serve their customers with leading-edge clearinghouse activities, and we look forward to developing the relationship."
Global Crossing's IP VPN traffic runs over a secure, private MPLS-based IP backbone and is enhanced by Global Crossing's precedent-setting Network Security Agreement, signed with the U.S. government, and its Evaluation Assurance Level 2 (EAL) accreditation, which allows it to run data networks for the UK government.
Global Crossing's MPLS-based IP VPN provides multiple Classes of Service (CoS) with differentiated Quality of Service (QoS), enabling financial firms to simultaneously run multiple applications, including voice, video and data with guaranteed performance for each service. With premium level CoS, the SLA on jitter is less than 15 milliseconds, although actual performance averages around 5 milliseconds. Global Crossing's MPLS-enabled IP backbone consistently operates at 99.999 percent availability, the highest industry standard.
Global Crossing offers backup options including diverse and redundant connectivity between critical locations, partners, suppliers and personnel. IP VPN-based business continuity solutions help ensure the resilience of the system.
About Global Crossing
Global Crossing (Nasdaq: GLBCE) provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects more than 300 cities and 30 countries worldwide, and delivers services to more than 500 major cities, 50 countries and 6 continents around the globe. The company's global sales and support model matches the network footprint and, like the network, delivers a consistent customer experience worldwide.
Global Crossing IP services are global in scale, linking the world's enterprises, governments and carriers with customers, employees and partners worldwide in a secure environment that is ideally suited for IP-based business applications, allowing e-commerce to thrive. The company offers a full range of managed data and voice products including Global Crossing IP VPN Service, Global Crossing Managed Services and Global Crossing VoIP services, to more than 40 percent of the Fortune 500, as well as 700 carriers, mobile operators and ISPs.
Please visit www.globalcrossing.com for more information about Global Crossing.
