QuantHouse, which if you couldn't tell from their name specializes in high speed algorithmic trading solutions, has selected connectivity from Level 3 Communications (NYSE:LVLT, news, filings) to power its network between London to Stockholm. This is a relatively new low latency route for Level 3, which has been expanding its European low latency portfolio steadily having gone to Milan and Zurich in March and to Madrid in January.
I have been hearing more and more about Stockholm as a major bandwidth hub in the past few months though, not just from the traders but also an the green energy datacenter front. Level 3 has only been in the city via fiber for a few years, having leased dark fiber there in an expansion a few years back. They have been adding depth there this year, including this buildout to Telecity's new Stockholm II datacenter.
Level 3's stock price has been soaring since the Global Crossing deal was announced, closing at 2.40 yesterday - a far cry from the long sub-$1 period shareholders suffered through until January. Not all of that is the deal though, the market seems to be starting to believe in the potential for organic growth this year as well and for Q2 in particular. I suppose we'll find out in four weeks or so.
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