As firms push for quicker routes to market and faster access to market data, vendors are responding by continuously advancing their networks and data offerings. For some, it is not only about the need for speed but also the need to ensure speed is available to all market participants. The winner of the Best Low-Latency Data/Technology Provider award, Quincy Data, emphasizes equal access to all, supporting a well-functioning market.
The underpinning ethos of private microwave bandwidth provider McKay Brothers and market data provider Quincy Data is that the financial market works best when the greatest number of participants have access to the best tools. Jim Considine, COO at Quincy Data, says speed is a key differentiator and highlights that Quincy Data “offers a level playing field for what is frequently the lowest latency.”
Quincy Data distributes low latency market data through McKay’s private microwave networks, and to ensure the data is accessible to smaller firms, Quincy Data offers a subscription service with short-term contracts, resulting in low risk for market participants. At the same time as making normalized market data accessible to trading firms of all sizes, Quincy is consistently lowering latency. “I would say we’re very close to the physical limits of how fast we can transmit data,” says Considine.
In recent years, focus has been on bringing this level of speed to the global financial community, and Quincy—established in California—began expansion of its European services in 2014 and its Asian services in 2016. By continuously adding new locations, Quincy has established a global service, offering a common application programming interface worldwide.
Five years ago, when the company was created, emphasis was on servicing early adopters—typically latency‑focused firms—but, according to Considine, the company now has more than 50 clients and sees growth in medium-sized and large banks, and option market-makers also taking data. “Low-latency market data has become quite mainstream and is no longer the exclusive domain of high-frequency market-makers,” he says.
The ability to be leveraged by multiple providers also wowed the judges. Quincy Data “blows the doors off,” they said, and is a “good and stable low-latency provider used by top trading houses.”
Next, Quincy is looking to level the playing field even further by focusing on the New York equities space—in doing so, breaking down barriers to private networks that are not available to all as a commercial service and that hinder competition, explains Considine.
Bryan Cross, who heads UBS Asset Management's QED group, joins to discuss alternative data and AI.Subscribe to Weekly Wrap emails
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