Underseas cable infrastructure critical for global economy

Much of this infrastructure allows the global economy to function. Every day, SWIFT, the Society for Worldwide Interbank Financial Telecommunication, transmits some 20 million messages to more than 8,000 banking organizations, security institutions, and corporate customers in nearly 200 countries, reconciling trillions of dollars’ worth of assets across global financial markets. Intercontinental Exchange, which operates a global network of currency exchanges and clearing-houses, typically processes over ten million contracts each day, covering the energy, commodity, financial, and equity derivatives markets. Without the undersea fiber-optic network, this type of electronic banking and commerce simply could not happen. And in the event that the cable system shut down, millions of transactions would be cut short.