Chipcom’s Switching Solutions Chosen By Sumitomo Bank Capital Markets
SOUTHBOROUGH, Mass.–(BUSINESS WIRE)–July 10, 1995–Chipcom Corporation (Nasdaq/CHPM) today announced Sumitomo Bank Capital Markets, a division of Sumitomo Bank Limited, has selected the company’s switching systems as the foundation for its worldwide financial trading network.
The new network links traders, risk managers and back-office administrative personnel to trade processing histories, real-time stock market information and other market data applications. Fast access to this information enables them to make well-informed, strategic decisions regarding swaps and derivatives — investments whose value is derived from an underlying security, such as stocks, bonds or currency.
This Chipcom-based networking infrastructure is also being used by Sumitomo Bank Limited, one of the world’s largest banking institutions, and other divisions of the bank including the securities, leasing and finance, trust, financial services and capital markets organizations.
Employing Chipcom’s ONcore Switching Systems and Galactica Network Switching Hubs, Sumitomo Bank Capital Markets’ Ethernet network connects 1,200 nodes throughout its New York office as well as its satellite offices in Hong Kong and London. Chipcom’s ONdemand(TM) NCS network management software manages the network.
“The need for accessing and processing information is instantaneous in our market so we needed a networking solution that would guarantee network availability and reliability at all times,” said Robert McKenna, assistant vice president and manager of telecommunications at Sumitomo Bank Capital Markets. “After evaluating all the major switching system vendors’ products and strategies for ATM migration, we chose Chipcom’s ONcore System to deliver a flexible, forward-compatible solution to address a variety of bandwidth requirements.”
The critical — and bandwidth-hungry — applications on the Sumitomo network include the UNIX trade/client database and market data system for providing client histories and real-time financial market information.
“The port-switching capability of Chipcom’s products have been ideal for accommodating adds, moves and changes for users with a variety of different, but equally important, computing needs,” said McKenna. “Because I can easily configure additional segments and switch ports where necessary, it’s easier to scale bandwidth as needed.”
In the next phase of Sumitomo Bank Capital Markets’ networking project, a Fiber Distributed Data Interface (FDDI) server backbone will be added for Sumitomo Bank Limited’s risk management system. Sumitomo Bank Capital Markets is looking to further develop its Chipcom next-generation network by adding 100 megabits-per-second Ethernet and FDDI switching functionality to satisfy bandwidth demands. With these new technologies in place, Sumitomo Bank Capital Markets plans to implement interactive video and document sharing in the near future.
Founded in 1983, Chipcom Corporation designs, manufactures, markets and services fault-tolerant intelligent switching systems, including hub, internetworking and network management products, for remote site, campus and enterprise network computing environments. The Southborough, Mass.-based company reported record revenue of $268 million for its 1994 fiscal year, ended December 31, a 67 percent increase over 1993.
According to the market research firm Dataquest, Inc., Chipcom is the world’s third largest supplier of intelligent hubs. Together with its resellers, Chipcom has a presence in more than 40 countries, and the company employs over 925 people worldwide. For the third consecutive year, Chipcom has been cited by Fortune magazine as one of the 100 fastest-growing companies in America.
Chipcom, the Chipcom logo, Galactica and ONcore are registered trademarks, and ONdemand is a trademark of Chipcom Corporation.
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