NovaSparks Adds CBOE As First FPGA Direct Options Feed

NovaSparks has designed its own FPGAs to cope with the high-volume, bursty nature of equity options feeds.

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The vendor has added support for the exchange's CBOE Streaming Market (CSM) Book Depth feed and the C2 CSM Book Depth feed, both of which are Level 2 products with a depth of five levels. Under testing, the average latency for processing a CBOE packet on NovaTick is 950 nanoseconds (ns) wire-to-wire.

NovaSparks chief operating officer Olivier Baetz says one of the challenges with the CBOE direct feeds is that they have high burst rates, which can be detrimental to latency if firms do not have th