NEW YORK and PARIS, July 19, 2021 (GLOBE NEWSWIRE) – NovaSparks ™ today announced a major enhancement to NovaTick ™, its innovative FPGA-based ticker factory, consisting of a fully FPGA-based order book consolidator that sets a new benchmark for latency and determinism in high volume transactions.
Traditionally, order book consolidation and BBO (Best Bid & Offers) aggregation across multiple sites has been done in software, run on central processing units (CPUs), taking hundreds of microseconds with impact. negative on the quality of exchanges.
NovaSparks eliminates the bottleneck of aggregating market data from multiple exchanges using direct feeds and delivers the lowest latency ever, and in the smallest footprint.
Anand Prakash of Cutler Group comments: “Over the past year, we have used NovaSparks’ US Equity Flow Managers and the user-defined BBO consolidator to dramatically improve performance during market peaks, which Systematically reduced latencies during periods of high volume. This remarkable innovation gives us the opportunity to focus our development efforts in other areas.
When a security’s Top-of-Book (TOB) appears in an exchange data center, NovaSparks’ new market data aggregator – colocated in the same data center – can update the BBO information. in a user application in less than a microsecond, a speed never before achieved. Trading firms can access US Equities National BBO faster, microseconds before any software solution. US Securities Information Processor (SIP) compliant flows can also be used to supplement BBO at a lower cost for smaller volume exchanges.
“Our fully FPGA-based consolidator provides the fastest solution on the market and saves commercial companies from developing and managing their own custom book aggregation or BBO solutions,” said Luc Burgun, CEO of NovaSparks. “Faster access to a holistic view of the markets provides better price / order execution for order execution, reduces risk for market makers and broadens trading opportunities for banks and trading companies. “
Implemented on an additional FPGA layer in addition to the 70 existing flow managers already available in NovaTick, the consolidator reads the standardized books already processed by NovaTick. It generates standardized or BBO order books to be consumed by software trading applications – via PCIe or Ethernet – or by hardware trading applications – via NovaLink – in colocation or abroad (via wireless / RF networks ).
NovaSparks’ aggregator is available today for the US and Canadian equity markets. Next come the European equity markets as well as the American options markets. This solution positions NovaSparks to become a competing consolidator for the future US SIP under SEC rules.
About NovaSparks, Inc.
NovaSparks is the leader in high performance, ultra low latency FPGA-based trading solutions for financial markets. NovaTick ™, its flagship Ticker Plant product, supports 70 feeds on the major equity, futures and options trading platforms in North America, Europe and Asia and is packaged in easy-to-scale appliances to deploy or in tightly coupled PCIe cards. NovaSparks’ FPGA approach provides standardized market data, including book building and consolidation in less than a microsecond, even during peak market times. This level of performance is extended across the entire trading cycle with NovaSparks ‘pure Tick-to-Trade FPGA solutions or can be used for custom projects through NovaSparks’ open FPGA trading development platform. NovaSparks is headquartered in Paris (France) and has offices in Nantes (France) and New York (USA).
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