Anova’s MicroFeed is Recognized by Leading International Financial and Investment Group
CHICAGO — December 12, 2019 — Anova Financial Networks, an international carrier and market data provider, announces today it has won the 2019 FOW International Award for ‘Best New Product - Market Data’ given by FOW, which is part of the Global Investor Group. Anova was recognized for innovation, vision and excellence demonstrated with its MicroFeed product, which delivers the fastest market data transmission from the Chicago Mercantile Exchange (CME) to all destinations simultaneously in the New Jersey Equity Triangle.
“In the ultra-competitive and complex world of market data connectivity, Anova’s MicroFeed is a bit of a game-changer,” states Luke Jeffs, Managing Editor of FOW. “Making updated CME data available to the equity triangle in a fraction of the time taken by rival offerings makes MicroFeed the only sane choice for latency sensitive trading firms.”
“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 travels wirelessly and offers a latency of well below 4 milliseconds during the entire trading cycle, providing an estimated benefit of 8-12 microseconds over the legacy offerings. This normalized market data feed enables financial firms to build a custom book of price updates that can be received in concert at all NJ exchanges: BATS (NY4 & NY5), NASDAQ (NY11), BrokerTec (NY2) and NYSE (Mahwah). Its market-leading conflation feature reads multiple updates from the CME and only sends the latest price information first.
In addition, MicroFeed is a “level the playing field” product that is intended to be used equally by institutions such as banks or hedge funds, retail giants and prop firms alike. The product 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.
The Global Investor Group incorporates the Global Investor, FOW and ISF brands and offers news, data and in-depth analysis across derivatives, securities finance, custody and fund services and asset management.
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.
Jaymie Scotto & Associates (JSA)
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