Lime Brokerage to Deliver NovaSparks Market Data Service
June 18, 2012
Ultra-low latency trading tech provider Lime Brokerage, a Wedbush Company, has entered into a partnership with NovaSparks to deliver low latency, hardware-based field programmable array (FPGA) data feed handlers to clients.
The companies say that the pure FPGA system is highly reliable and proven to maintain performance through all market conditions, especially during critical bursts, and is capable of building an order book in 880 nanoseconds.
“More and more, the Buyside wants to choose their level of service” stated Kevin Beadles, Managing Director of Lime Brokerage/Wedbush Execution Solutions Group. “A significant portion of the market demands a consistent, ultra-low latency market data service to eliminate slippage especially when trading off crucial industry events, which require adjusting positions and/or rebalancing portfolios given news, company filings and sector events” explains Beadles.
The addition of a market data service with ultra-low and deterministic latency is part of a continuous expansion of Lime/Wedbush’s new trading infrastructure for the buyside. “We strive to accommodate all client needs and now they have additional options when selecting a level of service required for every particular trading strategy,” said Beadles.
NovaSparks chief executive Yves Charles stated that “a properly pipelined FPGA system can process incoming messages at the same ultra-high speeds, regardless of increases to data rates, the number of symbols watched or the number of downstream consumers.”
“When major market events happen, data rates can spike,” he said.
The service reportedly will process incoming exchange feeds and build the order book in 880 nanoseconds which compares with the majority of solutions on the market operating at 10-100 microseconds to perform the same task.
