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Colt extends Nordic PrizmNet footprint

First Published 25th September 2017

Colt Expansion within Verne's Icelandic data center enables access to renewable energy to help reduce costs and carbon emissions

Andrew Housden, Colt

Andrew Housden, Colt

London, UK and Keflavik, Iceland - Verne Global, a provider of data center solutions, has announced that Colt has expanded its presence within its Icelandic data center by adding Colt PrizmNet as part of its on-net offering.

Adding access to Verne Global's campus is designed to help clients with cost savings and the growing requirement for computationally intensive technologies such as high-performance computing (HPC) and grid applications. Iceland's data privacy laws will also enable Colt's financial customers to meet regulatory requirements for secure data storage and the ability to monitor and manage new cyber security risks.

This move enables Colt to address the following customer needs and market opportunities:

• Investment Banks - mid-and back-office systems, back-up and disaster recovery;
• Hedge Funds - quant research platforms and data storage;
• Systematic Trading firms - data storage, pre-trade analytics;
• Exchange groups and integrated market infrastructure groups - disaster recovery;
• Information service providers - data storage and distribution; and
• Interdealer brokers - back-up, disaster recovery and hosting trading applications.

Andrew Housden, VP Capital Markets at Colt said: "We can now offer dedicated hosting in Iceland for firms that require high density cooling and processing, giving them the ability to optimise and scale their intensive compute applications, meet regulatory compliance requirements, and lower their operational costs and carbon footprint with no premium for going green."

Verne Global's data center, located on a former NATO campus in Iceland, draws its electricity from hydroelectric and geothermal energy. The cool, temperate climate in Iceland enables free cooling, that when combined with the low-cost, renewable power, means companies can save more than 70% on the total cost of operations for their compute resources over traditional financial hubs like London, Frankfurt and New York.