...in the States. What is going on in the States is a lot of fragmentation." Wouldn't he be expected to say that? "Absolutely, we would," says Hockemeier. "But we think we've got some proof of that, and the fact that there are 1,200 VoIP companies in the world would suggest that the fragmentation is not only continuing but actually accelerating."

As things stand, Arbinet, which trades, routes, and settles wholesale capacity has, according to Hockemeier, 375 members and a 13 billion minute annual run-rate. In Q1, 2005, the company had fee revenues of...

NOTE: All illustrations and photos have been removed from this article.



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