Bjarni Thorvardarson, CEO, Hibernia Atlantic: "Project Express will offer the lowest latency from New York to London and provide demanding customers the speed and accuracy they require."

Hibernia Atlantic, the transAtlantic high bandwidth connectivity provider, has announced plans to build the lowest latency cable route from New York to London offering High Frequency Traders latency under 60 milliseconds.

"Demand for low latency routes has grown exponentially over the past several years," states Bjarni Thorvardarson, CEO of Hibernia Atlantic. "Project Express will offer the lowest latency from New York to London and provide demanding customers the speed and accuracy they require." Furthermore, the new Express transAtlantic cable will allow customers to reach other key financial cities and will offer lowest latency connections between Frankfurt and London and into Chicago, New York City and Toronto. Additionally, Toronto will now connect into London at sub 70ms.

"The desktop study is complete, the vendor selection field has been narrowed and we're ready to move forward with this project," states Mike Saunders, Vice President of Business Development for Hibernia Atlantic. "Construction is second nature to Hibernia, having just completed another submarine cable, landing station and terrestrial network into Northern Ireland. Additionally, Hibernia owns and operates two transAtlantic cable systems. With our vast experience, this new venture is a natural fit for our business."

The first phase of the new build will begin with a new cable from the County of Somerset in the UK, to Halifax in Canada then connect to Hibernia's current low latency cable from Halifax to New York. In addition, the new system will include branching units for future latency enhancements to the US and Continental Europe. The build is projected to be completed by the summer of 2012.