McKay Brothers http://www.mckay-brothers.com Low Latency Microwave Tue, 13 Sep 2016 21:35:48 +0000 en-US hourly 1 Transatlantic Latency Slashed For Quincy Extreme Data Service http://www.mckay-brothers.com/transatlantic-latency-slashed-for-quincy-extreme-data-service/ Tue, 13 Sep 2016 00:15:07 +0000 http://www.mckay-brothers.com/?p=1891 Lowest latency for transatlantic market data service September 13, 2016 / London / McKay Brothers International (MBI) has reduced transatlantic latency on its Quincy Extreme Data (QED) service to the lowest available for financial market data services. QED’s new transatlantic fiber capability combined with McKay’s extremely low latency microwave on land in the US and across Europe sets a new speed benchmark for market data services. The improvement in transatlantic latency extends a long history […]

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Lowest latency for transatlantic market data service

September 13, 2016 / London / McKay Brothers International (MBI) has reduced transatlantic latency on its Quincy Extreme Data (QED) service to the lowest available for financial market data services. QED’s new transatlantic fiber capability combined with McKay’s extremely low latency microwave on land in the US and across Europe sets a new speed benchmark for market data services. The improvement in transatlantic latency extends a long history of upgrades.  The QED service is operating between Aurora, IL and Europe at unprecedented one-way speeds:

  • To Slough-LD4, 34.619 milliseconds (ms)
  • To Frankfurt-FR2, 36.917 ms
  • To Marseilles, 41.444 ms

“We are thrilled to reduce latency while dramatically expanding QED’s transatlantic content,” says MBI Managing Director Francois Tyc. “We now distribute all QED’s US-sourced market data in the UK and all Europe-sourced data in New Jersey.”

The company continues to reduce microwave and wired latency worldwide, add content and extend its POP footprint.  The latency between Aurora and Slough-LD4, for example, has been lowered by over 400 microseconds one-way in 2016. MBI recently added Euronext as a data source and plans to add more exchanges in 2016.  It also opened new POPs in Madrid and Marseille, providing access to an important European trading center and a key gateway to Indian and Middle Eastern exchanges.

“Our subscribers value our efforts to improve and broaden the QED service,” continues Tyc. “We relentlessly reduce latency – whether on the McKay networks or with third party providers – while adding data sources, expanding content and commissioning new POPs.”

The QED service employs McKay Brothers’ lowest known latency microwave network between Chicago and New Jersey and MBI’s microwave network between the UK and Frankfurt. The transatlantic fiber interconnects these two wireless networks.  The end-to-end service that spans Illinois, New Jersey, the UK, Spain, France and Germany offers the lowest latency for a market data service.

The QED service distributes market data from more exchanges than any microwave market data service. QED offers select data from eleven exchanges in the US and Europe and has more in development. The company’s sixteen points of presence are located at major trading hubs in Illinois, New Jersey, the UK, France, Spain and Germany.

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McKay Brothers Receives Investment from IMC http://www.mckay-brothers.com/mckay-brothers-receives-investment-from-imc/ Thu, 01 Sep 2016 11:56:54 +0000 http://www.mckay-brothers.com/?p=1881 1 September 2016 – OAKLAND, GENEVA & PARIS — McKay Brothers, a market leader in low latency networks, today announces an agreement with IMC, the technology-driven trading firm, that will support the continued growth of McKay’s successful network business. Under the terms of the agreement IMC will take a minority stake in McKay, providing capital for the further improvement of McKay’s networks serving the latency sensitive trading community. Financial terms of the agreement were not […]

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1 September 2016 – OAKLAND, GENEVA & PARIS — McKay Brothers, a market leader in low latency networks, today announces an agreement with IMC, the technology-driven trading firm, that will support the continued growth of McKay’s successful network business.

Under the terms of the agreement IMC will take a minority stake in McKay, providing capital for the further improvement of McKay’s networks serving the latency sensitive trading community. Financial terms of the agreement were not disclosed.

Key elements are:

  • IMC makes a capital investment and acquires an equity stake
  • McKay maintains its independence under co-founders Stéphane Tyč and Bob Meade
  • McKay commits further investment to reduce latency to the physical limit in its key long haul routes
  • McKay continues to operate under its core business principles which include offering a level playing field and equal access to the lowest latency service for subscribers

Stéphane Tyč, McKay co-founder, said, “This agreement not only further strengthens our financial position, which will keep us ahead in terms of network speed and reach, and data coverage and quality, but, as importantly, maintains our autonomy. That’s great news for all of the trading firms that use our networks and for the industry as a whole.”

Bob Meade, McKay co-founder, added, “Our ability to attract financial backing from a firm with the industry standing and vision of IMC underscores our value to market participants. The agreement will facilitate further innovation and improvements to our networks.”

Arno de Quaasteniet, Global Head of Technology at IMC, said, “IMC supports McKay as it continues to innovate to remain at the forefront of the industry. As a strong, independent supplier, McKay plays a crucial role in ensuring equal and fair market access to liquidity providers. These are principles IMC shares.”

 

 Contact: contact@mckay-brothers.com

 

ABOUT McKay

McKay – through McKay Brothers, LLC, Quincy Data, LLC and other controlled affiliates – designs, builds and operates telecom networks and market data services for latency sensitive traders and risk managers of banks, funds and trading firms. Since upending the market for low latency connectivity between Chicago and NY in 2012, McKay has provided fair and equal access to its lowest latency services in the US, Europe and Asia. It has main offices in Oakland, CA and Paris, France.  See www.mckay-brothers.com.

 

ABOUT IMC

IMC is technology-driven trading firm, active on over 100 trading venues around the world. Founded in Amsterdam in 1989, IMC was among the first to value the importance of technology and innovation in the evolution of market making. See www.imc.nl

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Stephane Tyc featured in the Harrington Starr’s The Financial Technologist – Q3 2016 http://www.mckay-brothers.com/stephane-tyc-featured-in-the-harrington-starrs-the-financial-technologist-q3-2016/ Thu, 04 Aug 2016 22:58:03 +0000 http://www.mckay-brothers.com/?p=1872 Read the interview by Stephane Tyc, Mckay-Brothers and Quincy Data Co-Founder, in the Fintech Focus section of Harrigton Starr’s Financial Technologist. Read the full edition here

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Read the interview by Stephane Tyc, Mckay-Brothers and Quincy Data Co-Founder, in the Fintech Focus section of Harrigton Starr’s Financial Technologist.

20160804 HS q3 cover

20160729 harrigton starr

Read the full edition here

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Exchanges vs Networks: The Intensifying Competition Between Determinism and Speed http://www.mckay-brothers.com/exchanges-vs-networks/ Wed, 01 Jun 2016 17:18:38 +0000 http://www.mckay-brothers.com/?p=1855 Stephane Tyc presented at The Terrapinn Trading Show Chicago on  May 18, 2016 discussing Exchanges vs Networks. The slides from his presentation are available to download.  

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Stephane Tyc presented at The Terrapinn Trading Show Chicago on  May 18, 2016 discussing Exchanges vs Networks.

The slides from his presentation are available to download.

 

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McKay Brothers International Opens Marseille and Madrid POPs http://www.mckay-brothers.com/mckay-brothers-international-opens-marseille-and-madrid-pops/ Fri, 13 May 2016 23:45:22 +0000 http://www.mckay-brothers.com/?p=1845 Microwave provider extends services to India/Middle East gateway and Spanish Market May 16, 2016 / Marseille, France & Madrid, Spain / McKay Brothers International (MBI) has added new points of presence in Marseille and Madrid. The new POPs are receive sites for MBI’s private bandwidth subscribers who transmit from Slough-LD4, Basildon and Frankfurt-FR2. Marseille and Madrid are also distribution POPs for the Quincy Extreme Data (QED) service.  The bandwidth and market data services offer the […]

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MB MAPMicrowave provider extends services to India/Middle East gateway and Spanish Market

May 16, 2016 / Marseille, France & Madrid, Spain / McKay Brothers International (MBI) has added new points of presence in Marseille and Madrid. The new POPs are receive sites for MBI’s private bandwidth subscribers who transmit from Slough-LD4, Basildon and Frankfurt-FR2. Marseille and Madrid are also distribution POPs for the Quincy Extreme Data (QED) service.  The bandwidth and market data services offer the lowest known commercial latency. For example, select futures market data sourced in Aurora, IL is distributed in Marseille in 41.552 milliseconds and in Madrid in 43.978 milliseconds (one-way).

“Marseille and Madrid are key locations for our subscribers,” says MBI managing director Francois Tyc. “Marseille is the demarcation point for a key sub-sea cable to India and the Middle East. Madrid is a major European trading hub.”

The QED service distributes a broad range of select Illinois-sourced futures at the two POPs.  Of particular interest to traders in India and the Middle East are the select Metals, Energy and FX futures distributed in Marseille. The QED service also distributes select Frankfurt-sourced Equity Index and Interest Rate futures in Madrid and Marseille at the lowest commercially available latency.

“Banks and trading firms need fast, reliable market data,” continues Tyc. “We’re pleased to support the global nature of our subscribers’ businesses with the broadest microwave network and market data footprint in the industry.”

The QED service distributes market data from more exchanges than any microwave market data service. QED offers select data from eleven exchanges in the US and Europe and has more in development. The company’s sixteen points of presence are located at major trading hubs in Illinois, New Jersey, the UK, Germany, France and Spain.

Latencies and prices for the QED service are published at http://www.quincy-data.com/

About McKay Brothers International, SA

McKay Brothers International, SA is a proven provider of private wireless bandwidth and the leading distributor of extremely low latency microwave market data.  The Quincy Extreme Data service is an integrated and normalized feed of select market data sourced from multiple financial exchanges globally and is offered in exchange colocation centers around the world.

MBI Media Relations: MBI.contact@mckay-brothers.com

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Quincy Data Lowers Latency with McKay Brothers Upgrades http://www.mckay-brothers.com/quincy-data-lowers-latency-with-mckay-brothers-upgrades/ Thu, 12 May 2016 23:37:27 +0000 http://www.mckay-brothers.com/?p=1832 Aurora data distributed in NY2 in 4.015 ms OWT; Aurora-Carteret in 3.982 ms May 12, 2016 / Quincy Data, Oakland, CA / The Quincy Extreme Data (QED) service has lowered latency on its microwave market data service between Illinois and New Jersey.  QED distributes select Aurora and Chicago-sourced futures data in major trading centers in New Jersey at the lowest known latency.  QED distributes Aurora data in Secaucus-NY2 in 4.015 milliseconds (ms) one-way, Mahwah in […]

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Aurora data distributed in NY2 in 4.015 ms OWT; Aurora-Carteret in 3.982 ms

May 12, 2016 / Quincy Data, Oakland, CA / The Quincy Extreme Data (QED) service has lowered latency on its microwave market data service between Illinois and New Jersey.  QED distributes select Aurora and Chicago-sourced futures data in major trading centers in New Jersey at the lowest known latency.  QED distributes Aurora data in Secaucus-NY2 in 4.015 milliseconds (ms) one-way, Mahwah in 3.986 ms and Carteret in 3.982 ms. QED’s lower latencies are the result of improvements made by its affiliate and network provider, McKay Brothers.

“The use of microwave data as a signal to inform trading has expanded well beyond latency arb firms,” says Quincy Data co-founder Stephane Tyc. “Even quite traditional firms understand fast market data is an essential input for trading algorithms and electronic execution engines.”

QED leverages McKay Brothers’ US long haul microwave network to distribute market data at the lowest known latency.  Quincy sources Interest Rate, Equity Index, Energy, Metals and FX futures data in Aurora.  QED also distributes Equity Index and Energy futures sourced in Chicago. Select ETF and Cash Treasuries market data are sourced in Carteret, NJ.

“Banks, in particular, benefit by pairing microwave for their most relevant data and fiber for less time sensitive data,” continued Tyc. “The marriage of microwave and fiber can help some firms maximize performance while actually reducing their total cost of ownership.”

The QED service distributes market data from more exchanges than any microwave market data service. Quincy offers select data from eleven exchanges in the US and Europe and has more in development. The company’s fourteen points of presence are located at major trading hubs in Illinois, New Jersey, the UK and Frankfurt.

Latencies and prices for the QED service are published at http://www.quincy-data.com/

About Quincy Data
Quincy Data, LLC, is the leading microwave distributor of extremely low latency market data. The Quincy Extreme Data service, live since 2012, offers an integrated and normalized feed of select financial market data. Sourced from multiple exchanges in the US and Europe, the Quincy service is offered in exchange colocation centers in Illinois, New Jersey, the UK and Frankfurt. Quincy is dedicated to leveling the playing field for extreme low latency market data.

 

Quincy Data Media Relations: contact@quincy-data.com

 

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Lower Latency And Lower Cost: Having Your Cake and Eating It Too http://www.mckay-brothers.com/lower-latency-and-lower-cost-having-your-cake-and-eating-it-too/ Tue, 10 May 2016 00:36:33 +0000 http://www.mckay-brothers.com/?p=1828 An excerpt from The Harrington Starr’s, The Financial Technologist Q2 Edition – Blockchain Special: Lower Latency and Lower cost: Having your Cake and Eating it too Written by Stephane Tyc For years now we have heard about how banks are under increasing pressure to cut costs. In the post-crisis era, a large proportion of spending has had to be earmarked for upgrading systems to meet regulatory requirements. With the latest annual cost of compliance survey […]

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An excerpt from The Harrington Starr’s, The Financial Technologist Q2 Edition – Blockchain Special:

Lower Latency and Lower cost: Having your Cake and Eating it too

Written by Stephane Tyc

For years now we have heard about how banks are under increasing pressure to cut costs. In the post-crisis era, a large proportion of spending has had to be earmarked for upgrading systems to meet regulatory requirements. With the latest annual cost of compliance survey from Thomson Reuters showing that 70% of firms expected regulators to publish more regulatory information concerning requirements (with more than a quarter of firms expecting “significantly” more), it’s little wonder that banks have been putting much of their focus on compliance-related spending rather than performance-related investment.

Although this means proportionally less money is going into technology that could enhance performance, such as via lower latency networks, there is an upside to this situation, which is that banks are increasingly open to innovative solutions that both maximize the return on investment and minimize the total cost of ownership.

What if someone said you could dramatically reduce your latency and save money at the same time? Suddenly investment decisions could become a lot easier. That possibility is finally becoming real as new networking solutions that combine traditional fibre-based traffic with cutting edge microwave technology come on stream.

When it comes to latency, banks have had to strike a delicate balance.  They need to be fast – to serve latency sensitive clients and for their own risk management – and they need to be reliable. But banks also have plenty of clients for whom shaving microseconds doesn’t matter so much. So how can they stay competitive in latency terms without spending a fortune on latency reduction investments that some of their customers may not deem essential?  Given the spending restraints they’re already under due to regulatory requirements, this question becomes even more difficult to answer.

There could be a way. The technology is actually not that new but it was given renewed attention thanks to microwave networks. Microwave bandwidth is so scarce that market data providers have developed very efficient compression algorithms to distribute even a limited subset of the data. Now those investments in better compression and more efficient distribution can be ported to fibre. Today, a host of microwave networks are in place that can be leveraged in a way that can give banks access to much lower-latency networks without sacrificing reliability, security or limiting the ability to move large amounts of data over great distances. The icing on the cake is that once you combine the speed of microwave with the reliability of fibre, firms will actually be able to lower their market data distribution costs.

Since service providers such as McKay Brothers are already running ultralow latency networks that can meet the requirements of the most demanding customers, making that technology available to a wider client base is not that great a leap. The hard work already done for these ultralow latency customers means the technology can be extended without the service provider taking on a great deal of extra cost.

The obstacle has always been that while latency-based trading firms can design their trading strategies to minimise the amount of data that crosses a network, banking firms don’t always have that option. Often significant amounts of data need to criss-cross the globe.  Cloud technology, improving data storage and data mining capabilities and increased regulatory risk management requirements are just some of the factors behind the exponential rise of data traffic. Think of it as a cost of doing business.

The solution comes from combining microwave networks with fibre. By combining these technologies, banks can get the most relevant information by microwave and receive a full feed of all the data via fibre.

The first microwave networks, developed half a decade ago, linked the futures markets of Chicago with the cash equity markets of New York. Since then, numerous networks have sprung up that shave milliseconds off of transit times between a host of major financial centres, including London and Frankfurt.  The companies that demand the lowest latency possible were the earliest adapters. Demonstrating the value of these ultra-fast networks within a bank’s infrastructure is a natural extension.

Marrying the robustness of fibre with the sheer speed of microwave is a work in progress. But it’s happening. Banks are already exploring the benefits that this marriage can offer. For those that do, the marriage is not actually about technology. It’s about strategy and prioritizing the most important data for client service and risk management. It’s about combining best-in-class performance with IT savings.

In the hard-nosed world of finance, no one puts much stock in fairy tales. But the combination of fibre and microwave may just be one of those happily-ever-after marriages you occasionally hear about. Watch this space.

For the full article:  http://www.harringtonstarr.com/download-financial-technologist-q2-edition-blockchain-special/

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Euronext Derivatives Added to McKay Brothers’ Quincy Extreme Data Service http://www.mckay-brothers.com/euronext-derivatives-added-to-mckay-brothers-quincy-extreme-data-service/ Thu, 05 May 2016 16:03:06 +0000 http://www.mckay-brothers.com/?p=1826 Equity index futures at the lowest known latency at major UK trading centers May 5, 2016 / London, UK & Geneva, Switzerland / McKay Brothers International has added Euronext Equity Index Futures to its industry-leading Quincy Extreme Data (QED) service. The QED service now offers select Euronext instruments at the lowest known latency at major UK trading centers. Latency to Slough-LD4 is 273 microseconds, Interxion-LON2 is 140 and Quincy’s Central London POP adjacent to the […]

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Equity index futures at the lowest known latency at major UK trading centers

May 5, 2016 / London, UK & Geneva, Switzerland / McKay Brothers International has added Euronext Equity Index Futures to its industry-leading Quincy Extreme Data (QED) service. The QED service now offers select Euronext instruments at the lowest known latency at major UK trading centers. Latency to Slough-LD4 is 273 microseconds, Interxion-LON2 is 140 and Quincy’s Central London POP adjacent to the LSE is 142.

“Risk takers and risk managers understand that quickly receiving and processing key exchange data can meaningfully impact performance,” says MBI Managing Director Francois Tyc. “We are pleased to offer Euronext data at the lowest known latency to QED subscribers.”

MBI’s UK Local millimeter network connects the five leading London-area data centers wirelessly at the lowest known latencies.

“QED’s ease of implementation is helping to broaden adoption of wireless market data,” continued Tyc. “QED offers more wireless exchange data in more POPs than any provider and on terms that support many use cases.”

The QED service offers a tailored pricing model. Subscribers pay for only the data they need and the POPs in which they consume it.  The company offers short-term contracts and free trials as well as a small company discount. In addition to Euronext, the QED service distributes market data from ten exchanges at fourteen US and European POPs.

Latencies and prices for the QED service are published at http://www.quincy-data.com/

About McKay Brothers International, SA

McKay Brothers International, SA is a proven provider of private wireless bandwidth and the leading distributor of extremely low latency microwave market data.   The Quincy Extreme Data service is an integrated and normalized feed of select market data sourced from multiple financial exchanges globally and is offered in exchange colocation centers around the world.

McKay Brothers International Media Relations: contact @mckay-brothers.com

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FISD Technology Forum Panel: Low Latency – So Last Year Dahling http://www.mckay-brothers.com/fisd-technology-forum-panel-low-latency-so-last-year-dahling/ Tue, 08 Mar 2016 18:30:06 +0000 http://www.mckay-brothers.com/?p=1814 Stéphane Tyč enjoyed being part of the Low Latency panel at the FSID Technology forum on March 2, 2016 in London.

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Stéphane Tyč enjoyed being part of the Low Latency panel at the FSID Technology forum on March 2, 2016 in London.

2016 Panel with ST

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McKay Brothers Completes UK Local Wireless Network at Lowest Known Latency http://www.mckay-brothers.com/mckay-brothers-completes-uk-local-wireless-network-at-lowest-known-latency/ Thu, 17 Dec 2015 19:07:37 +0000 http://www.mckay-brothers.com/?p=1790 December 17, 2015 / Geneva, Switzerland / McKay Brothers International’s (MBI) Central London POP, adjacent to the London Stock Exchange, is now live.  The Central London POP completes MBI’s UK Local millimeter wave network. MBI connects data centers serving major UK equities, interest rate and FX matching engines at the lowest known latency. For example, latency from Slough-LD4 to a MBI’s Central London POP is 272 microseconds round trip.  Slough-LD4 to Interxion’s Central London location […]

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McKay Brothers MapDecember 17, 2015 / Geneva, Switzerland / McKay Brothers International’s (MBI) Central London POP, adjacent to the London Stock Exchange, is now live.  The Central London POP completes MBI’s UK Local millimeter wave network. MBI connects data centers serving major UK equities, interest rate and FX matching engines at the lowest known latency. For example, latency from Slough-LD4 to a MBI’s Central London POP is 272 microseconds round trip.  Slough-LD4 to Interxion’s Central London location is covered in 280 microseconds round trip.

“McKay offers the lowest known latency for each leg of the UK equities trade,” says MBI’s managing director Francois Tyc. “We are the only provider able to meet subscribers’ telecom needs for the lowest known latency across the complete footprint of UK trading co-los.”

MBI’s private bandwidth service connects clients trading at key FX matching engines in Slough-LD4 and the London Hosting Center. MBI’s latency between those data centers is 306 microseconds round trip, the lowest known.  MBI offers four long haul microwave routes between major UK trading co-los and Frankfurt-FR2.  Each long haul link is the lowest known commercial latency.  MBI’s QED service offers exchange-sourced market data from Illinois, the UK and Frankfurt in all its European POPs.

“Traders and risk managers demand that their providers of critical telecom and market data services meet exacting standards,” says McKay co-founder Stephane Tyc. “Our aim is to continue to earn clients’ trust as they grow their businesses.”

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