December 3, 2010 – (HOSTSEARCH.COM) –
NYI, a New York City-based, mission-critical data services provider, today announced that it has teamed with
Certichron, the leader in third-party evidentiary time services, to provide secure, provable time-distribution and validation solutions for finance and securities, government, international trade and law enforcement applications.
With this partnership, NYI's data centers at 100 William (New York, NY), 999 Frontier (Bridgewater, NJ) and 800 South Hope (Los Angeles, CA) where Certichron's technology will be deployed, all become strategic additions to Certichron's growing network as well as a source of nationally and internationally compliant time-services--an area expected that has become a billion-dollar market for the legal profession alone over the past several years(*).
"NYI's reputation for being technologically forward-thinking is no exaggeration," said Todd Glassey, CTO, Certichron. "They have made a major investment in their data center infrastructure to assure that its feature set and amenities remain the cutting-edge standard for the foreseeable future. We are inspired by their vision and proud to have them as a partner as we establish federally-certified third-party time-data services as both a regulatory standard and audit requirement solution."
"Certichron’s shrink-wrapping of time and trust services as a third-party resource is important in computing. What Certichron is doing will soon become essential, not just for hedge fund managers and securities dealers, but for all regulated systems which need something better than ‘because I said so’ as a trust model," said Phillip Koblence, VP Operations, NYI. "In the meantime, being able to deliver such third-party, provable time-data not only protects our customers, it holds NYI up to the highest possible standard."
Glassey added, "Businesses are increasingly dependent on the complex integration of applications and systems, whether it be consolidating financial reports within the corporation, wiring money or moving data to the Cloud. Ultimately, this data from disparate sources needs to be consolidated into valid transaction records.
"If the time stamps are not consistent, the integrity of the data is undermined. With growing regulation (PCI DSS, OATS, SOX, GLBA, etc.) and judicial intervention (Lorraine v. Markel and In re Vinhnee), the management of time has evolved from an issue of accuracy to an issue of verification and proof."
Most recently, Certichron has executed a NORAMET Time Service Agreement with the Canadian government. This agreement means that the Canadian Time Server Certichron has deployed at NYI's main data center in Lower Manhattan can be used as a provable, third-party time source for official government activities because it is the first real-world instance of NORAMET (UTC), better known as Coordinated Universal Time, outside a laboratory.
As Certichron's technology is more broadly deployed, NYI's data centers add to their already long list of capabilities, which include support for low-latency connectivity for trading platforms, backup processes, and other latency-sensitive applications. For complete information on NYI's data centers, including facility specifications, virtual tours and connectivity partners, visit: www.nyi.net/facilities.
(*) Source: http://www.law.com/jsp/lawtechnologynews/PubArticleLTN.jsp?id=1202463900292
About Certichron
Certichron acts as a Trusted Digital Intermediary, with a complete time-evidence and time-content certification practice that is nationally and internationally recognized as a legally provable source of time. To provide uniform time everywhere Certichron delivers its provable time service through a nationwide network anchored against its NIST-calibrated time-service systems. Based in San Jose, CA, with a network extending across the United States, the company hosts ~30% of the NIST public timeservers on the Internet and is the single largest provider of NIST-calibrated time outside of the Federal government. The company's time-services meet US FFIEC, SEC, and other regulatory standards, in addition to those put forth by NORAMET and other International Treaties, and the compliance requirements of PCI DSS, OATS, SOX, and GLBA.
About NYI
Established in 1996, NYI is headquartered in the heart of the Wall Street area and owns and maintains its own data centers, including 999 Frontier, a flagship 40,000 square foot facility in Bridgewater, New Jersey. The company's core services include colocation, dedicated servers, web and email hosting, and managed services, as well as turnkey disaster recovery and business continuity solutions from its Bridgewater location. With its high-bandwidth connectivity partners offering immediate, sub-millisecond access to more than 20 markets, NYI specializes in mission-critical data services for the financial services industry, in addition to solutions for customers from a broad range of industries, including media, law, fashion, architecture, life sciences and real estate. NYI is SAS 70 Type II-compliant, in addition to being both PCI- and HIPAA- compliant. NYI's corporate motto is "Center Your Data."™
