Our VoIP Trading business enables carriers and other communications service providers to outsource international voice and fax traffic, substantially lowering their transport and service support costs, without compromising quality. Our carrier customers access The iBasis Network, our international VoIP network, by establishing an interconnection through one of our “Internet Central Offices” or “ICOs”. ICOs are strategically located in major telecommunications hubs in the U.S., Asia, and Europe. Calls are transported over the Internet and terminated at “Internet Branch Offices” or “IBOs” generally managed by our terminating partners. In this way, our...