NEW YORK and PARIS, July 19, 2021 (GLOBE NEWSWIRE) – NovaSparks ™ today announced a significant improvement to NovaTick ™, its innovative FPGA-based ticker system consisting of a fully FPGA-based order book consolidator that sets a new benchmark for Latency and determinism in high volume trading.
Traditionally, the consolidation of order books and the aggregation of BBOs (Best Bid & Offers) across multiple trading venues have been done in software running on central processing units (CPUs), which takes hundreds of microseconds to complete, which has a negative impact on trading quality affects.
NovaSparks removes the bottleneck in aggregating market data from multiple exchanges using direct feeds and offers the lowest latency ever and in the smallest of spaces.
Anand Prakash, Cutler Group, commented, “Over the past year we have used NovaSpark’s US stock feed handlers and custom BBO consolidator to dramatically improve breakout performance, resulting in consistently lower latencies during high periods Volume led. This remarkable innovation gives us the opportunity to focus our development efforts on other areas. “
When a TOB (Top-of-Book) for a security shows up 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 never achieved speed. Trading companies can access the US Equities National BBO faster, microseconds before any software solution. US Securities Information Processor (SIP) compliant feeds can also be used to complete the BBO at a lower cost for smaller volume exchanges.
“Our fully FPGA-based consolidator offers the fastest solution on the market and relieves retail companies from developing and maintaining their own custom book or BBO aggregation solutions,” said Luc Burgun, CEO of NovaSparks. “Faster access to a global view of the markets offers a better price and a better order fulfillment rate when executing orders, lowers the risks for market makers and expands the trading opportunities for banks and trading companies.”
Implemented on an additional FPGA layer in addition to the 70 feed handlers already available in NovaTick, the Consolidator reads normalized books that have already been processed by NovaTick. It generates normalized order books or BBOs that are used 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 stock markets. The European stock markets and the US options markets will follow next. This solution positions NovaSparks as a competing consolidator for the future US SIP according to SEC rules.
About NovaSparks, Inc.
NovaSparks is a leader in FPGA-based high-performance and ultra-low-latency trading solutions for financial markets. NovaTick ™, its flagship product from Ticker Plant, supports 70 feeds on the major trading venues for stocks, futures and options in North America, Europe and Asia and is packaged in scalable, easy-to-implement appliances or tightly coupled PCIe cards. NovaSpark’s FPGA approach delivers normalized market data, including bookbuilding and consolidation, in less than a microsecond, even during peak market periods. This level of performance is extended to the entire trading cycle with the pure FPGA tick-to-trade solutions from NovaSparks or can be used for customer-specific projects via the open FPGA trade development platform from NovaSparks. NovaSparks is headquartered in Paris, France and has offices in Nantes, France and New York City, USA.
Follow us on Twitter: @NovaSparksFPGA.
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