McKay Brothers Sells Minority Stake to HFT Firm IMC
The investment will support the continued growth of McKay’s network business.
Under the terms of the agreement, IMC will take a minority stake in McKay, providing capital for the vendor to invest in its microwave networks to "reduce latency to the physical limit in its key long-haul routes," officials say. No other financial terms have been disclosed.
"This agreement not only further strengthens our financial position, which will keep us ahead in terms of network speed and reach, and data coverage and quality, but, as importantly, maintains our autonomy," says McKay co-founder Stéphane Tyč in a statement. "That's great news for all of the trading firms that use our networks and for the industry as a whole."
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