stox.com and Cisco Announce Successful Implementation of Compressed Multicast Network
VANCOUVER, BC--(BUSINESS WIRE)--Sept. 9, 1999--stox.com Inc. (VSE: URL - news), a leading provider of custom financial applications and online trading solutions, announced today, that with the support and assistance of Cisco Systems (NASDAQ: CSCO - news), it has completed the first phase of its private international data network. In doing so, the Company has established connectivity between the major North American stock exchanges and its New York and Vancouver facilities. With this achievement, the Company has taken another step toward reaching its objective of delivering a reliable, redundant, scalable, and cost effective real-time market data solution for the online brokerage and financial information industries.
The network also gains a competitive advantage from hardware based compression. This technology reliably improves the cost effectiveness of the entire network, and the financial applications designed to run on it. The use of multicast technology to deliver rich, multimedia content will allow stox.com to offer services that previously were not economically feasible for the mass market.
``Cisco and stox.com have invested a significant amount of time in intensive systems and application software co-development in an effort to deliver rich, multimedia, user-centric services to the financial and investment communities,' said Larry Timlick, Manager, Western Region Service Provider, Cisco Systems Canada. ``Together, we have created a robust and scalable multicast content delivery service offering highly efficient bandwidth usage not previously possible using unicast delivery techniques. Through this private multicast wide-area network, stox.com is able to realize substantial operational cost savings while its customers are able to access the most up-to-date financial information available.'
``Cisco has not acted as a vendor, but as a partner in the build out of our network. stox.com sincerely appreciates the role Cisco continues to play as we progress towards our goal of providing both consumers and professionals the most reliable, cost effective, truly real-time securities data solutions available,' stated Scott Blue, CEO of stox.com.
About stox.com Inc.
Headquartered in Vancouver, British Columbia, stox.com Inc. (VSE:URL - news) is listed on the Vancouver Stock Exchange. The Company leverages its global private network to deliver solutions for the development of online trading systems, real-time market data and financial information, and private labelled web applications for the online financial community. For more information on products and services, please visit our World Wide Web site at www.stox.com.
About Cisco Systems Canada Co.
Cisco Systems Inc. is the worldwide leader in networking for the Internet. Cisco is a multinational corporation with more than $12 billion (U.S.) in annual revenues and more than 19,000 employees worldwide. Cisco Systems Canada Co. (formerly Cisco Systems Canada Ltd.) was established by Cisco Systems in 1990. Headquartered in Toronto, Ontario, the company has more than 239 employees in Canada with regional sales and services offices in Dartmouth, NS; Moncton, NB; Quebec City, PQ; Montreal, PQ; Ottawa, ON; London, ON; Winnipeg, MB; Calgary, AB; Edmonton, AB; and Vancouver, BC. Cisco Systems also owns a world class development centre, in Kanata, ON.
Cisco produces networking solutions for enterprise organizations, service providers and small/medium businesses. Virtually all Internet traffic travels across Cisco equipment. Cisco also uses the Internet to conduct a substantial amount of its own business. The company provides more than 70 per cent of its customer support over the Internet. Cisco products handled over the Internet have now surpassed the $8 billion (U.S.) mark, making it the world's largest Internet commerce company. Additional information on the company and its products can be accessed on the Internet at cisco.com or cisco.com.
This press release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On Behalf of the Board: Scott R. Blue, CEO
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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