McKay Brothers and Quincy Data have connected the exchanges in the New Jersey Equity Triangle with what they say is the lowest latency in the market. The companies’ services link equity exchanges in Mahwah, Carteret and Secaucus, with the McKay network currently offering two-way market data and private bandwidth services between Mahwah and Carteret as well as Mahwah and Secaucus. A one-way service from Carteret to Secaucus will be available within days and a two-way service in the third quarter.
The services are made possible by a path that is almost perfectly straight and bandwidth capacity that significantly reduces buffering during market bursts. McKay’s exclusive licence to the 28GHz band eliminates signal interference, which is a common issue for incumbent networks operating in the congested New Jersey corridor.
The Quincy Raw Data (QRD) service distributed across the McKay network provides equity market data in native exchange formats and distributes raw exchange equity feeds from one exchange to the data centres of the other two at the lowest latency. The Quincy Protected Data (QPD) service offers the same exchange data feeds, combining wireless with fibre to deliver fast and reliable data offerings to the New Jersey Equity Triangle.
The services should help brokers fulfil best execution obligations for clients trading US stocks and exchange-traded funds. Stephane Tyc, McKay and Quincy co-founder, comments: “It has been nearly impossible for firms to obtain the timeliest market data between the largest US stock exchanges, as the best latency on two legs of the New Jersey Equity Triangle has been controlled by private trading firms. Our new services provide all firms with the chance to compete on an equal footing.”