Transaction allows Anova to interconnect its metro networks in Chicago & New Jersey and instantly becomes one of the fastest commercial paths between these regions
NEW YORK & CHICAGO & LONDON — February 6, 2018 — Anova Technologies, a preeminent provider of financial connectivity, is pleased to announce the acquisition of a long haul wireless network between 2905 Diehl Rd, Aurora, IL, 1400 Federal Blvd, Carteret, New Jersey and the Equinix campus of NY2/NY4/NY5 in Secaucus, New Jersey. These addresses are the respective locations of CME, NASDAQ and CBOE/BATS electronic trading facilities.
The network, which is operational today, has the capability to bi-directionally transmit 300Mbps, which is twice the typical capacity of most microwave systems built in this corridor. Further, with latencies (measured from client port-to-client port) coming in at 4.070ms one-way from Aurora to Secaucus and 4.025ms one-way from Aurora to Carteret, this path immediately slots in as one of the very fastest commercial networks.
“We’ve looked at a lot of assets over the years between Chicago and New Jersey and invariably passed. This was for a variety of reasons – sometimes due to latency deficiencies, sometimes not enough capacity. However, this network was an exceptional fit for us as it possessed both necessary components right out of the gate. It will be interesting to see the market dynamics going forward and if customers will continue to stay on/pay for the fastest commercial path when there are no less than six private networks ahead of them. Personally, I believe there’s a burgeoning segment of firms who can maintain their current P&L with this new Anova network and would relish a significant price decrease. This could translate into millions of dollars a year in savings,” stated Mike Persico, founder and CEO of Anova Technologies.
“Besides being the primary network for customers, there’s a multitude of additional services available on this line, given its high capacity. Diversity and/or backup for those who already have a principal path, connecting to international circuits to form hybrid networks, additional bandwidth for clients as they shift more trades off fiber and onto wireless – the list is long. The other interesting element is the ability to disseminate futures, options and equities feeds wirelessly. And to that end, we’ll have a full suite of normalized market data between Chicago and New Jersey available Day One. We feel this ensures product attractiveness to the largest audience possible,” Persico continued.
The transmission of market data between financial centers is essential for efficiency within the trading landscape as a whole – assisting with price discovery, liquidity and market making.
“Over the years we’ve really embraced the concept of being more than just a Layer1 provider. You can look at the acquisition of the LTS platform, the development of the Relay, along with our self-healing service as prime examples. Providing the market data product offerings is essential to our company ethos. When you pair the best underlying networks with data directly from the exchanges, you’re truly delivering a product set that has high utility for clients and the general marketplace alike,” explained Kieran Athy, CTO of Anova Technologies.
With this acquisition, Anova now has almost 1,600 kilometers of RF network active and is one of the largest financial industry wireless carriers.
“Anova has grown significantly, both in our deployed assets and as a company, over the last few years. And we see that continuing for the foreseeable future. 2018 should see more proprietary product sets going to into production, the procurement of even more capacity in the CHI-NJ corridor, continued international expansion and potentially, additional M&A activities. Our goal remains the same – to interconnect the world’s financial centers with best-in-class infrastructure,” concluded Mr. Persico.
These services are not affiliated in any manner whatsoever with any of the exchanges mentioned herein (CME, BATS, NASDAQ and CBOEICE) and are exclusively a product of Anova Technologies.
About Anova Technologies
Since its inception in 2009, Anova has pioneered the deployment methodology for millimeter wave point-to-point networks, is the sole provider of long distance hybrid lasercom connectivity, patented and deployed endpoint termination devices and been honored with multiple awards and media coverage. Firms of all types and sizes rely on Anova’s networks to deliver ultra-low latency, near perfect availability, and scalable capacity.