Hughes Network Systems Supplies Shenzhen Securities
TO BUSINESS AND TECHNOLOGY EDITORS:
SSCC Will Use DIRECWAY(R) to Provide High-Speed Distribution of Stock Information
GERMANTOWN, Md., Dec. 16 /PRNewswire/ -- Hughes Network Systems, Inc. (HNS), the world's leading provider of broadband satellite solutions, today announced that it is supplying the Shenzhen Security Communications Co. Ltd. (SSCC) with a comprehensive DIRECWAY(R) broadband satellite network. The multi-million dollar contract comprises two Network Operations Centers (NOCs) and more than 3,500 DW1000 remote satellite terminals.
SSCC provides database communication services for the Shenzhen Securities Exchange, one of two stock exchanges in mainland China, handling billions of Yuan in transactions annually, with 508 companies listed from across the country. With the DIRECWAY broadband satellite network, SSCC will be able to broadcast vital stock information to stock brokerages across China in real- time, thereby improving the services they provide their customers.
"The communications demands of the Shenzhen Securities Exchange require a high-speed, reliable and secure solution that we found can only be met by using broadband satellite," said Dr. Sun Chenjian, CEO of Shenzhen Security Communication Co. "We chose HNS after testing the solution and determining that the DIRECWAY system performance and price, and HNS' reputation, are unmatched."
Initially deployed as a one-way broadcast system, operational in December 2003, the DIRECWAY network can be expanded easily to a two-way solution as SSCC's needs expand.
"Wide area, secure, high-speed broadcasting capabilities are critically important to the services SSCC provides Shenzhen Securities Exchange as customers are spread throughout the country and the need to provide information in real-time is essential for trading," said K.C. Kuo, vice president and general manager, Asia-Pacific Region, for Hughes Network Systems. "DIRECWAY satellite broadband is the ideal solution to meet these requirements."
Over 13 percent of China's annual gross domestic product is traded on the Shenzhen Securities Exchange, with over 3,400 trading seats available on the Exchange-a marked increase from the mere 15 seats available when the Exchange opened in 1991. This steady expansion demonstrates the growth potential for the market and its communications needs.
"HNS is committed to providing its customers with DIRECWAY broadband satellite solutions that grow with their needs. SSCC is an excellent example of a company that has both immediate and long-term needs that can be addressed most cost effectively by satellite. By upgrading their communications network to broadband satellite today, the company not only is meeting the current needs of its customers, but investing in their future requirements," said Bahram Pourmand, executive vice president and general manager, International Division at HNS.
About Shenzhen Security Communications Co. Ltd.
Shenzhen Securities Communication Co., Ltd (SSCC) was established in August of 1993. It provides database communication services for the stock markets. The stockholders include Shenzhen Securities Exchange, Chinese Space Technology Institution, and China Satellite Communications Corporation.
For the past ten years, SSCC has gained enormous experience in launching, expanding, operating, maintaining, and managing stock market communications systems. SSCC now provides nationwide service and has become the most capable, highly secure and most efficient network company. It is responsible for stock IPO, exchange, account opening, clearance, news releases, notary Internet services, and multimedia information exchange.
About Hughes Network Systems
Hughes Network Systems, Inc. (HNS), a wholly owned subsidiary of Hughes Electronics Corporation (HUGHES), is the world's leading provider of broadband satellite network solutions for businesses and consumers, with more than 600,000 systems ordered or shipped to customers in 85 countries. HNS pioneered the development of high-speed satellite Internet access services, which it markets globally under the DIRECWAY(R) brand and is a major supplier of mobile satellite networks, including GSM-enabled portable handsets and Internet devices. In addition, HNS is a leading manufacturer of DIRECTV(R) satellite television receivers, having shipped over 13 million to date.
Headquartered outside Washington, D.C. in Germantown, Maryland, USA, HNS maintains sales and support offices worldwide. The earnings of HUGHES, a unit of General Motors Corporation, are used to calculate the earnings attributable to the General Motors Class H common stock (NYSE: GMH). To learn more about HNS, please visit www.hns.com.
HUGHES, Hughes Network Systems, and DIRECWAY are trademarks of Hughes Electronics Corporation. Other trademarks are the property of their respective owners.
SOURCE Hughes Network Systems, Inc.