|By Business Wire||
|July 8, 2014 12:00 AM EDT||
NovaSparks™, the leading field programmable gate array (FPGA) market data company, today announced that it has signed an agreement with Thesys Technologies (“Thesys”) to begin offering ultra-low latency market data service to Thesys’ customers powered by NovaSparks. Based on a pure FPGA architecture where all the processing is done in hardware, NovaSparks’ data feed handler enables trading firms to maintain ultra-low latency processing in all market conditions.
“Today, FPGA technology is an essential component of any high speed trading infrastructure. FPGAs are able to handle very large market data bursts while maintaining a deterministic latency profile,” said Manoj Narang, CEO of Thesys Technologies. “Partnering with NovaSparks allows Thesys to make the technology cost-effective and easily available to all our customers.”
Based on a pure FPGA matrix architecture, NovaSparks’ feed handlers operate all aspects of market data processing inside the FPGAs. These include decoding, parsing, order management, book building, filtering and data distribution. Pure FPGA processing enables NovaSparks to deliver the lowest and most deterministic latency. In addition, FPGA solutions inherently offer higher resiliency than software thanks to the more static and self-contained nature of their environment.
Luc Burgun, NovaSparks’ president and CEO, commented, “We are pleased to join forces with Thesys to begin offering pure FPGA market data service. This will allow trading firms to take advantage of a cost-effective, quick-start subscription service.”
The solution is initially being deployed for a first customer to handle the five main U.S. equity markets. Future expansions will follow customer demand, taking advantage of NovaSparks’ extensive global coverage of 30 feeds which are all normalized into a common format that is easy to integrate thanks to a robust C++ API.
About Thesys Technologies
Thesys Technologies LLC is the technology affiliate of Tradeworx, serving the high-performance technology needs of market participants with the mission of democratizing the spread of top tier technology within the financial sector. Thesys offers the fastest and most comprehensive front-to-back trading solution on the market, in addition to matching engine, risk check, data, cloud-based analytics, and surveillance technology, putting investors and traders on a level playing field with the world's most sophisticated financial firms. Thesys maintains a leadership position within the automated trading industry and its systems currently handle approximately 5% of US Equities total daily trading volume.
About NovaSparks, Inc.
NovaSparks is the leader in FPGA-based high performance and ultra-low latency market data solutions for the financial industry. NovaSparks unique FPGA centric approach delivers sub microsecond processing latency including book building, even during market peak periods. Available for over 30 feeds among the major Equity and Futures venues across North America, Europe and Asia, the feed handlers are packaged in ‘easy-to-deploy’ appliances offering an extensive fan-out capability for market data distribution. Founded in 2008 and backed by well-established investors, NovaSparks’ offices are located in Paris, France and New York, USA.
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