Cairo and Alexandria Stock Exchanges upgrades its internal network using Foundry Networks

Saudi Egyptian Logistics and Electronics Company (SALEC, Egypt) - Foundry Networks authorized reseller in Egypt and CASE signed the upgrade contract. The contract was signed between Mr. Mohamed Abd El-Salam, Chairman of CASE and Mr. Mahmoud Soliman, President and CEO of Salec International with the presence of Mr. Abd El-Hamid Ibrahim, Head of Capital Market Authority - CASE, and Farook Majeed Regional Director - Foundry Networks MENA.

Cairo and Alexandria Stock Exchanges (CASE) aims to be one of the core financial centers in the Middle East North Africa Region, through the adoption of leading-edge technology, commitment to continuous improvement in its rules and regulations, the products and services it offers and forging alliances with international markets.

CASE is striving to strengthen its competitive position by embracing a strong customer orientation, offering timely and secure services to investors, members and market participants as well as promoting the confidence and understanding of investors of its operations. In short, fairness, efficiency and transparency constitute our ongoing vision and ultimate objectives.

CASE is depending on this contract to overcome sudden failures in its network, as the new network will be equipped with a redundant network that functions as soon as a failure occurred in the main network. It would serve more than 600 users and it is connected to more than 50 servers.

According to the agreement, Salec will provide CASE with Foundry Networks equipments. Salec will train CASE IT department at one of Foundry Networks' specialized training centers in Germany.

The new network is designed to accommodate more than double the number of users. It guarantees very fast connections between CASE departments in both Cairo and Alexandria, Misr for Settlement, Clearance and Central Depository Company, Capital Market Authority and related ministries such as Ministry of Investment and Ministry of Finance. All concerned parties would be able to update and read information at the same time.

Industry leading - FastIron Enterprise Layer 2/3 Modular Systems, based on Award-winning JetCore ASIC Chipset have been deployed at the core of the network. The network is consisting of 4 core/backbone switches and several 10 gig FastIron Edge Switches - X series to provide a complete core to edge solution.

Mohamed Abd el Salam said that the Local Area Network upgrade is a part of a integrated system that reflects market efficiency."

"Total Cost of Ownership and Investment Protection are among the top purchasing criteria for enterprise network deployments. Foundry's new FastIron systems make a compelling case to enterprise customers with savings in total cost of ownership while providing next generation feature set, performance and density at industry's most competitive prices" said Farook Majeed, Regional Director, Foundry Networks

Majeed added "Our aim is to achieve customer satisfaction by providing most reliable, performance oriented and cost effective solutions. Large enterprise accounts, major oil and gas, financial sectors, PTTs and ISPs are always concerned about reliability and performance factors in a product along with price factor which pays a significant role. SALEC and Foundry have worked closely to understand the requirements of CASE and have put together a reliable and effective solution"

"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 CEO of Salec International.

"The nature of the network of CASE dictates the utmost levels of availability and reliability in the financial sector. Salec's background and abilities puts it in the forefront of such a challenge. We are looking forward to a strong partnership with the financial sector," he added.