New $300M Transatlantic Cable Will Save Traders Six Milliseconds

Work has started off the US East Coast on the Hibernian Express, a 3,741-mile fibre-optic link that will shave six milliseconds off the current fastest offering by Global Crossing GLBC. Traders will pay 50 times as much for a connection on this new cable as compared with current transatlantic cables. To a large hedge fund, each millisecond can be worth as much as $100M a year to their profits.