Decreasing Transatlantic Latency with Hibernia Express Latency is an important criteria for many high-frequency trading algorithms in the financial markets, where a small edge of a few milliseconds can translate to millions in loss or profit. In September 2015, Hibernia Networks launched a new fiber-optic link ("Hibernia Express") specifically designed to ensure the lowest latency between New York and London by following the great circle route between the cities. The total cost of the project is estimated to be $300M+ and the new route boasts 58.95 ms latency between the cities, which gives it a ~5 millisecond edge compared to all other existing transatlantic links. This translates to $60M+ per millisecond saved! Latency is expensive — literally and figuratively.
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