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 Anovas commitment to enhancing our assets and further strengthening our network on this critical corridor. Were 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. Were proud that NovaSparks has fulfilled Anovas 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 Anovas network, which results in a powerful combination and a huge advantage for the financial trading industry.
This announcement comes on the heels of Anovas 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.
