FastIron grows in stock exchanges

Cairo and Alexandria Stock Exchanges (CASE) has upgraded its internal network infrastructure as part of an overall initiative to develop CASE as a major financial centre in the region.

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By  Caroline Denslow Published  July 28, 2005

Cairo and Alexandria Stock Exchanges (CASE) has upgraded its internal network infrastructure as part of an overall initiative to develop CASE as a major financial centre in the region. CASE has selected Foundry Networks' FastIron solutions to replace its existing network structure and has tapped Saudi Egyptian Logistics and Electronics Company (Salec Egypt) to implement the project. Salec has deployed FastIron Enterprise Layer 2/3 modular systems at the core of the network to support CASE’s more than 50 servers. Overall, the upgraded network consists of four core backbone switches and several 10G FastIron Edge Switches. As part of the agreement, Salec will also train CASE’s IT department in one of Foundry’s specialised training centres in Germany. With the new set-up, CASE hopes the network will be able to accommodate more than double the existing number of users it has. At present, CASE is serving more than 600 users. The network will also be used to provide fast connections between CASE departments in Cairo and Alexandria and link them to other agencies such as Misr for Settlement, Clearance and Central Depository Company and Capital Market Authority, and to different government ministries, including the Ministry of Investment and the Ministry of Finance. “We are very glad to be have been chosen by CASE for this challenging task. We have competed head-to-head with our competitors and our success is, in no doubt, the result of our track record and experience in building and supporting mission critical networks,” said Mahmoud Soliman president and chief executive officer of Salec International. According to Farook Majeed, regional director, Foundry Networks, part of the reason why companies, such as CASE, select Foundry’s range of networking solutions is because of its low total cost of ownership (TCO) and higherformance levels. “Salec and Foundry have worked closely to understand the requirements of CASE and have put together a reliable and effective solution,” he said. “Our aim is to achieve customer satisfaction by providing the most reliable, performance-oriented and cost-effective solutions,” he added.

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