Predict your next investment

Anova Financial Networks company logo
Corporation
MOBILE & TELECOMMUNICATIONS | Telecom Services / Wireless
anovanetworks.com

See what CB Insights has to offer

Partners & Customers

3

About Anova Financial Networks

Anova Financial Networks is a carrier that offers wireless and fiber connectivity as well as market data distribution across all asset classes. Anova Financial Networks delivers an ultra-low latency, high availability wireless fiber capacity to both established and emerging markets.

Anova Financial Networks Headquarter Location

205 N. Michigan Ave Suite 4230

Chicago, Illinois, 60601,

United States

312-540-9594

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Anova Financial Networks Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Anova Financial Networks Rank

Latest Anova Financial Networks News

Google, CME Cloud Partnership Could Upend Tech Investments by Traders

Nov 17, 2021

November 18, 2021 - Advertisement - Until recently, there has been a perception that the cloud was unsuitable for high-frequency trading. In the cloud, companies rent access to shared computing infrastructure that can use multiple locations. The cloud is typically designed for less time-sensitive business applications such as browsing, email, streaming video or even supply-chain management. Even high-powered corporate applications rarely demand the same performance as high-frequency trading. - Advertisement - CME and Alphabet Inc. NS Google on November 4 announced a 10-year agreement to move CME applications to the cloud. Applications will move to the cloud in phases, with core trading systems eventually transitioning. Before this can happen, CME and Google will need to be rebuilt in cloud systems that match the ultra-low-latency performance of the specialized trading infrastructure. - Advertisement - “It’s harder than typical cloud migration,” said Philip Moyer, vice president of strategic industries at Google Cloud. If the CME effort is successful, the cloud-enabled exchange could reduce operating costs and lead to the creation of new revenue-generating data products and services, Mr. Tabb said. CME said the deal will allow it to develop new tools with Google technology such as artificial-intelligence software to bring in new users faster, streamline operations and monitor market risks. Mr Tab said that moving the core trading system to the cloud “will elevate those who heavily leverage the CME data center, those who are active traders in the futures markets, their brokers, their technology providers, as well as those who are active in equities.” Traders who rely on high-speed data from CME.” If CME’s trading infrastructure is moved to the cloud, the exchange’s customers will also need to reorganize their systems to operate in the new environment, Mr. Tabb said. But Brad Peterson, chief technology and information officer at Nasdaq Inc., Said that the cloud has advantages for exchanges. “The global pandemic has further strengthened our view of the benefits of our cloud transformation, including improved elasticity, scalability, and faster innovation while maintaining the same level of market flexibility and integrity,” he added. The CIO Journal reported last year that Nasdaq plans to move its markets to the public cloud over the next decade. “These are early days since our announcement, and we don’t have details for you beyond release at this time,” a CME representative said. “We are excited to be working with CME to solve these challenges,” Google Cloud said. declined to comment further on the difficulties of migrating to the cloud. Large business companies often rely on proprietary software that works with customizable hardware, providing control over the speed and stability of their trading algorithms, said David Larvier, a professor affiliated with the Colleges of Engineering and Business at the University of Illinois at Urbana-Champaign. does. , For a cloud-based environment to work on the hardware can require a considerable amount of work, he said. High-frequency trading firms typically place, or “co-locate,” their servers in the same physical data center as exchanges. Traders’ technology infrastructure is connected to the exchange using as much equal length of cable as possible so that all traders can communicate with the exchanges with equal latency, said Michael Persico, chief executive of Anova Financial Networks, a technology provider . Communication networks used by high-frequency trading firms. Google Cloud Chief Executive Thomas Kurian told Businesshala that his team is working with CME engineers to ensure that the exchange’s new cloud-based infrastructure will meet the latency requirements of trading firms. Trading firms also demand that they receive almost on-time market data from exchanges to ensure fair functioning of the markets, Mr Larvier said. This is achieved through a process known as multicast, in which an exchange sends market information to trading firms and data providers who distribute the information to remote trading servers. Historically, the cloud has not supported the multicast protocol known as IP multicast, he said. Amazon.Com Inc. NS The Amazon Web Services cloud-computing arm is working to enable multicast capabilities. The company said last year that it had conducted a pilot of such a system with the Singapore Exchange. Ltd. and the European market operator Aquis Exchange, Amazon did not respond to requests for comment. If CME and Google Cloud are successful in moving their business engines to the cloud, the change could put pressure on the particular companies that serve the exchanges, Mr. Tabb said. Traders are supported by communications companies, including Anova Financial Networks, as well as companies that sell trading software and other offerings to traders and brokers. Some of these companies, Mr. Tabb said, may not need it if the Exchange business moves to the cloud. Others may need to re-engineer their connections and platforms for the cloud. Mr. Persico of Anova Financial Networks sees this as an opportunity. “Well-run firms with good people and a history of innovating will be fine,” he said.

Anova Financial Networks Acquisitions

2 Acquisitions

Anova Financial Networks acquired 2 companies. Their latest acquisition was Next Century Spirits on October 18, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/18/2018

Loan

$9.85M

Spinoff / Spinout

1

2/8/2016

Subscribe to see more

$99M

Subscribe to see more

10

Date

10/18/2018

2/8/2016

Investment Stage

Loan

Companies

Subscribe to see more

Valuation

Total Funding

$9.85M

$99M

Note

Spinoff / Spinout

Subscribe to see more

Sources

1

10

Anova Financial Networks Partners & Customers

3 Partners and customers

Anova Financial Networks has 3 strategic partners and customers. Anova Financial Networks recently partnered with Seaborn Networks on October 10, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

10/24/2019

Partner

Seaborn Networks

United States

Seaborn Networks and Anova Financial Networks Partner to Provide the Fastest Path to Trade Between Chicago, USA and São Paulo, Brazil - Anova Financial Networks

Boston , USA -- October 24 , 2019 -- Seaborn Networks , a leading developer-owner-operator of transoceanic subsea fiber optic cable systems , and Anova Financial Networks , an international carrier and market data provider , announced today the formation of a strategic alliance to provide the first ultra-low latency fiber connection between the financial centers of São Paulo , Brazil and Chicago , USA .

1

7/16/2019

Partner

Subscribe to see more

Subscribe to see more

Subscribe to see more

10

10/16/2018

Partner

Subscribe to see more

Subscribe to see more

Subscribe to see more

10

Date

10/24/2019

7/16/2019

10/16/2018

Type

Partner

Partner

Partner

Business Partner

Seaborn Networks

Country

United States

Subscribe to see more

Subscribe to see more

News Snippet

Seaborn Networks and Anova Financial Networks Partner to Provide the Fastest Path to Trade Between Chicago, USA and São Paulo, Brazil - Anova Financial Networks

Boston , USA -- October 24 , 2019 -- Seaborn Networks , a leading developer-owner-operator of transoceanic subsea fiber optic cable systems , and Anova Financial Networks , an international carrier and market data provider , announced today the formation of a strategic alliance to provide the first ultra-low latency fiber connection between the financial centers of São Paulo , Brazil and Chicago , USA .

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

10

10

Anova Financial Networks Team

1 Team Member

Anova Financial Networks has 1 team member, including current Founder, Chief Executive Officer, Michael Persico.

Name

Work History

Title

Status

Michael Persico

Founder, Chief Executive Officer

Current

Name

Michael Persico

Work History

Title

Founder, Chief Executive Officer

Status

Current

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.