CHICAGO, July 16, 2019 /PRNewswire/ -- Anova Financial Networks, an international carrier and market data provider, announces its partnership with NovaSparks, the leading Field Programmable Gate Array (FPGA) market data company, to launch MicroFeed. Anova is leveraging NovaSparks' award-winning NovaTick, a fully-integrated ticker plant solution that conflates data for sub microsecond processing latency for the entire trading cycle, even during market peak periods. The NovaSparks deployment over Anova Financial Networks' ultra-low latency microwave network connects the Chicago Mercantile Exchange (CME) to all five sites in the New Jersey Equity Triangle, including BATS, NASDAQ, the New York Stock Exchange (NYSE) and Cboe Global Markets, Inc., to provide customers with an optimized and best-of-breed market data service.
MicroFeed allows banks and trading firms to accelerate their trading platforms by decreasing latency by 20% and efficiently processing and forwarding the timeliest updates. Market participants using the service will receive the fastest trade information for the most critical instruments at the CME, leading to better price transparency, market efficiency and liquidity. These users can then provide this benefit downstream to their customers and the retail public.
"We are proud to announce that the NovaSparks-powered MicroFeed is now live on our new fastest commercially available delivery of normalized market data between Chicago and New Jersey," said Michael Persico, CEO and Founder of Anova Financial Networks. "This launch is a testament to Anova's commitment to enhancing our assets and further strengthening our network on this critical corridor. We're doing this while once again demonstrating that Anova is the only choice for the fastest CME market data. The speed of data transmission and processing on the Chicago to New Jersey path makes this collaboration a gamechanger for financial firms of all sizes."
"We are thrilled to partner with Anova Financial Networks, a decade-long proven provider of financial market data and ultra-low latency networking," said Luc Burgun, Chief Executive Officer & President of the Board at NovaSparks. "We're proud that NovaSparks has fulfilled Anova's requirements for a heavily reduced payload format with a conflation feature to target microwave links. NovaSparks' advanced multi-level publication API can be distributed to all Equity Triangle endpoints over Anova's network, which results in a powerful combination and a huge advantage for the financial trading industry."
This announcement comes on the heels of Anova's recent news about the company unveiling the fastest known market data offering from CME to all major points within the New Jersey Triangle. Anova also continues to grow its global financial trading network in key markets with the recent addition of its four-site network in Asia.
For more information about Anova Financial Networks, please call 312.540.9594 or email [email protected].
About Anova Financial Networks
Anova Financial Networks is the only global carrier that offers wireless and fiber connectivity, as well as market data distribution across all asset classes. Anova's innovative proprietary technologies and client-centric approach enable the company to deliver secure and reliable solutions for banks, trading firms and exchanges worldwide. To learn more, visit www.anovanetworks.com and follow Anova on LinkedIn and Twitter @AnovaNetworks.
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About NovaSparks, Inc.
NovaSparks is the leader in scalable FPGA-based high-performance market data solutions for the financial industry. NovaTick, its flagship product, can deliver sub microsecond processing latency for the entire trading cycle and for the full universe of instruments, even during market peak periods. Available for over 60 feeds among the major Equity, Futures and Options venues across North America, Europe and Asia, the feed handlers are packaged in easy-to-deploy appliances and PCIe cards offering extensive fan-out capabilities for market data distribution. Market data processed in NovaTick can be consumed in software or hardware through a multi-level publication API. Founded in 2008 and backed by well-established investors, NovaSparks' offices are located in Paris and Nantes, France and New York, USA. For more information, please contact Barbara Rizzatti at 971-998-9404 or [email protected]. Follow us on Twitter: @NovaSparksFPGA.
SOURCE Anova Financial Networks