This paper proposed a dispersion compensating square-lattice PCF (S-PCF) with high negative dispersion characteristics, low confinement losses and relative dispersion slope closely matching the one of conventional single mode fibber G-655 (SMF). The design of six air-hole rings SPCF with dispersion coefficient of about negative 295 to 342 ps/(nm.km) and low confinement loss of less than 10-4dB/km between 1.53 um and 1.565 um wavelength range, is confirmed by numerical simulations. In addition, the authors discuss the splicing problem, its solution and influence of design parameters within a tolerance of + or - 1 percent on the transmission properties of the proposed SPCF's. The H-PCF potentiality as a candidate for multiple wavelengths dispersion compensating applications in more than 10Gb/s submarine optical transmission system within the C band is depicted.