Anova Financial Networks announced today that its MicroFeed solution has won the 2019 FOW International Award for ‘Best New Product – Market Data’ given by FOW, which is part of the Global Investor Group. MicroFeed delivers the fastest market data transmission from the Chicago Mercantile Exchange (CME) to all destinations simultaneously in the New Jersey Equity Triangle: BATS (NY4 & NY5), NASDAQ (NY11), BrokerTec (NY2) and NYSE (Mahwah).
MicroFeed travels wirelessly and offers a latency of well below 4 milliseconds during the entire trading cycle – an estimated benefit of 8-12 microseconds over the legacy offerings. Financial firms can use the normalized market data feed to build a custom book of price updates that can be received in concert at all NJ exchanges. MicroFeed’s market-leading conflation feature reads multiple updates from the CME and only sends the latest price information first.
“It is a great honor to receive the 2019 FOW International Award for Best New Product in the Market Data category,” comments Mike Persico, Founder and CEO of Anova Financial Networks. “The transport of market data between CME and New Jersey is critical to the financial industry and essential to every market participant across a myriad of strategies. This recognition by FOW not only demonstrates Anova’s leadership in providing the fastest tick-to-trade latency from CME to New Jersey with MicroFeed, but underscores our ongoing commitment to leverage innovation to deliver service excellence to our customers.”
MicroFeed, which can be used equally by institutions such as banks or hedge funds, retail giants and prop firms alike, leads to better price transparency, market efficiency and liquidity all while empowering users to provide this benefit downstream to their customers and the retail public.
To read the full press release, click here.