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The five year service agreement will be completed by Telecom's ICT Services Group, Telecom Advanced Solutions, and includes installation and maintenance of Telecom's Next Generation Network (NGN), along with ongoing customer management. The upgrade is part of a programme of continual improvement to NZX's overall infrastructure and was identified as a critical initiative in the NZX prospectus.
"The upgrade allows us to future-proof our network and increase the reliability, robustness and security of critical services provided by NZX," said Chris Corke, NZX CIO.
"The decision was made after an extensive IT audit and the necessary due diligence with a number of providers, all of whom were very professional throughout the process," said Corke. "In the end, we were impressed with Telecom's ability to provide a one-stop shop and the additional added value services it can offer NZX."
"A robust and secure hosting and network environment is critical for transaction-based businesses," said Chris Quin, General Manager Telecom Advanced Solutions. "We are very pleased NZX has chosen Telecom as its partner in supporting the mission critical services driving New Zealand business."
Once final terms and conditions have been determined, NZX and Telecom will meet for a detailed planning session with the rollout projected to be complete by Q2 2004. The new agreement does not represent a material increase in operating expenditure over time, but will constitute a substantial portion of NZX's IT spend over the period.
