By Julian Goldsmith, 17 July 1998 18:08
NEWS Bay Networks has announced that it has been awarded a contract by the New York Stock Exchange to build a layer three network to handle IP applications for voice and video. Future additions to the network will include digital voice capture, videoconferencing and recognition of trade and quote information. The Securities Industry Automation Corp (Siac), the organisation responsible for communications and transaction processing for the exchange, tested Bay's equipment before granting it the contract - even though the networking company has been a supplier to the exchange for seven years. No price has been given for the network. The NYSE is the largest exchange in the world. The industry has become increasingly competitive, as exchanges have had to tout for large international companies' shares. The largest exchanges rely heavily on electronic dealing and transaction processing systems to keep business from blue chip companies.
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