Brazil is now emerging from a two-year recession, with economic activity growing at its fastest pace since 2010 and significant financial growth predicted by the end of 2017. Given the dramatic turnaround, many financial providers are now seeking fast, high quality connectivity between the U.S. and Brazil’s financial epicenter in São Paulo.
Seaborn Networks, a leading developer-owner-operator of submarine fiber optic cable systems, recently announced that Spread Networks is its exclusive channel partner for sales to the financial vertical on its Seabras-1 cable system between New Jersey and São Paulo. This includes sales of SeaSpeed, Seaborn’s proprietary ultra-low latency (ULL) solution, which offers the lowest latency path between Carteret, New Jersey, and the BM&F Bovespa Stock Exchange in São Paulo.
“We are very pleased to be a part of Seaborn’s commitment to ULL solutions of the highest quality,” stated Dan Spivey, Founder and CEO of Spread Networks. “As the lowest latency fiber provider from Chicago to New York, we are uniquely positioned to offer financial customers a seamless channel to the lowest latency, market-to-market wave services between the financial centers of the U.S. and Brazil.”
Seabras-1 is the only direct point-to-point submarine cable system running between the São Paulo and New York metro areas. The system was in development for over five years, with a total project cost exceeding $520 million.
“Given our historical relationships with Spread Networks and their leadership role in the ULL sector, we welcome them as our partner on the most technologically advanced submarine cable between the U.S. and Brazil,” explained Larry Schwartz, Chairman and CEO of Seaborn. “Our proprietary SeaSpeed product is the first Carteret-Bovespa ULL solution with an intentional subsea design for the financial industry.”
Circuits for Seabras-1 will be activated for the financial industry in July 2017.
To learn more about Spread Networks, click here.