16 June 2010 Company Announcements

 

Partech invests $2 million in support of NovaSparks' technology

NovaSparks has secured Series A financing of $2 million from Partech, a venture capital firm. Partech invests in technology and internet firms, including Business Objects, DailyMotion, Informatica and Digitick.  Jean-Marc Patouillaud, partner at Partech, joined the NovaSparks board of directors earlier this year.

NovaSparks claims to offer sub-microsecond latency. Its technology is designed to significantly reduce the latency involved in market data ticker plant and packet distribution. NovaSparks increases processing speeds for the latency-sensitive high frequency traders of investment banks, hedge funds and proprietary trading firms.

NovaSparks's sub-microsecond systems are built exclusively on Field-Programmable Gate Arrays without any CPU processing. These effectively offer applications on a chip, and offer sub-microsecond latency for market data feed handling, order book processing, index computation and delivery of data direct to the core black boxes of algorithmic trading firms. 

The firm's Packet Dispatcher transfers market data and other critical data between data sources and applications at sub-microsecond speeds. 

Designed to be fully flexible, one of its applications will be to connect an Algorithmic trading hardware environment to the ‘No Latency' market data ticker plant, enabling easy customisation to suit the client firm's requirements. 

Partnering with low latency connectivity specialists, NovaSparks offers a carrier neutral choice enabling collocation services, performance measurement and monitoring, resilient and secure end-to-end managed services and global access.