8 February 2017 – OAKLAND, GENEVA & PARIS — McKay Brothers, a market leader in low latency networks, has closed an investment from affiliates of Tower Research Capital LLC for five percent of McKay equity. Together, with the previously announced investment from IMC affiliates for twenty percent of equity, McKay has concluded its initial round of outside equity funding. The investments allow McKay to accelerate its ongoing effort to drive down network latency between financial exchanges.
Stéphane Tyč, McKay co-founder: “Our strengthened financial foundation allows us to invest more capital to reduce latency to the physical limit. Maintaining our independence secures McKay’s core business principle of offering to all subscribers equal access to lowest latency services.”
Bob Meade, McKay co-founder: “We are pleased that several industry leaders have demonstrated their interest in both preserving McKay’s autonomy and promoting our mission to provide subscribers with equal access to lowest latency services. We focus on delivering the best possible infrastructure to the industry and will continue to work hard to improve it.”
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McKay Brothers LLC and affiliates design, build and operate telecom networks and market data services for latency sensitive traders and risk managers of banks, funds and trading firms. Since upending the market for low latency connectivity between Chicago and NY in 2012, McKay has provided fair and equal access to its lowest latency services in the US, Europe and Asia. It has main offices in Oakland, Geneva and Paris. See www.mckay-brothers.com
ABOUT Tower Research Capital LLC
Tower Research Capital LLC is a financial services firm that specializes in quantitative trading and investment strategies. Founded in 1998 and headquartered in New York City, Tower, together with its affiliates, trades multiple asset classes in over 150 venues worldwide and is an innovator and a leader in the field of computerized trading. See www.tower-research.com/
IMC is technology-driven trading firm, active on over 100 trading venues around the world. Founded in Amsterdam in 1989, IMC was among the first to value the importance of technology and innovation in the evolution of market making. See www.imc.nl