NovaSparks, a company that specializes in offering low-latency market data through field-programmable gate array technology, is now linked to the Montreal Exchange. With this addition, NovaSparks now supports 38 feeds across multiple asset classes and geographies. FPGAs are a type of computer chip that can be programmed on a very basic level to handle specific tasks, drastically reducing trader latency.
“This addition of the Montreal Exchange to the list of supported markets will make NovaSparks an even more attractive solution for Canadian trading firms,” says Etienne Dubuc, head of equity derivatives trading at National Bank of Canada.
NovaSparks’ technology enables sub-microsecond processing time for major equity and futures feeds around the world, reaching an average of 750 nanoseconds on the Montreal Exchange. NovaSparks executives claim the service operates at one to two orders of magnitude faster than traditional software solutions, especially during bursts of market activity.
