- Deal comes as some traders signal truce in arms race for speed
- McKay is open to receiving investments from other firms
High speed trader IMC BV bought a stake in a company that builds microwave radio systems for trading, providing funding that will help the data network compete in the arms race to shave microseconds off trading times.
The Dutch company’s minority stake will provide cash to McKay Brothers, a small, closely held firm that designs data networks for about 50 trading companies via its offices in Oakland, California and Paris. Financial terms weren’t disclosed in a statement on Thursday. McKay will stay independent under co-founders Stephane Tyc and Bob Meade. (Subscription required for full article)