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
• Systematic Trading firms - data storage, pre-trade
• Exchange groups and integrated market infrastructure
groups - disaster recovery;
• Information service providers - data storage 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