About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

NovaSparks Partners Thesys to Deliver FPGA Based Market Data Service

Subscribe to our newsletter

NovaSparks has set up a partnership with Thesys Technologies to provide a low-latency market data service to Thesys customers. The service is based on NovaSpark’s field programmable gate array (FPGA) hardware architecture, including a feed handler that allows efficient and cost effective access to market data with minimal impact on the resiliency and latency of trading systems.

Luc Burgun, president and CEO of NovaSparks, says that compared to high frequency trading firms and investment banks establishing their own systems, the NovaSparks solution delivers cost savings while providing low-latency access to market data. This is achieved using FPGA technology that replaces a number of steps in the chain, such as the switches and processors that normally run feed handlers in software, and allows access to the order book in around one microsecond.

Burgun explains: “It might be more cost effective to run software, but it is much slower because you have a lot of latency. In particular, when the market is very fast and there is a lot of activity, software can really slow you down. It can take five to ten microseconds to provide data to the trading software.”

The low-latency market data service allows each customer to have its own list of symbols and conduct calculations while sharing the FPGA, reducing overall cost and rack space required by trading firms at colocation centres. Burgun acknowledges competitors in the market offering FPGA services, but says NovaSpark’s coverage of over 30 markets and its format normalisation make its service particularly valuable for the efficient delivery of market data.

Looking forward, Burgun says NovaSparks’s goal is to expand coverage. With over 30 stock markets covered at the moment, he explains that the focus in future will be on cash equities, futures and options, with a view to consolidating market coverage across the globe. He concludes: “We have a lot of things coming up in terms of improving our market coverage and providing fast services based on FPGAs. As usual, we are going to work on improving latency and, ultimately, we are looking to reduce the time the market data is in the FPGA to the time it is available in the application programming interface of the trading software to below one microsecond.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unlocking Competitive Edge with Outsourcing and Managed Services in Trading Technology

Outsourcing has emerged as a strategic solution for capital markets firms as trading technology infrastructures become more complex, data volumes grow exponentially, and regulatory pressures intensify. .By leveraging third-party expertise, firms can optimise operations, reduce costs, and focus on innovation in their trading technology stack. Outsourcing potentially enables firms to scale seamlessly, meet regulatory reporting...

BLOG

Options Expands London Operations with New Office at 100 Bishopsgate

Options Technology has opened a second London office at 100 Bishopsgate, expanding its physical presence in the heart of the City’s financial district. The new office complements the firm’s existing Pall Mall location and is designed to support growing demand from sell-side clients and technology partners based in the area. Samuel Farmer, Senior Vice President...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...