Nanex, LLC

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Nanex, LLC
Founded 2000
Headquarters Winnetka, IL
Key People Eric Scott Hunsader, Founder, CEO
Products Financial Market Data
Twitter @@nanexllc
Website www.nanex.net

Nanex, LLC is a Winnetka, IL based technology firm that provides a streaming market datafeed and related research and analysis for financial market participants. [1]

History

The firm was founded in 2000 by Eric Scott Hunsader, an industry software developer who previously worked for such firms as Quote.com and CQG.

Nanex's prominence increased in 2013 via its research, which focuses on high-frequency trading activity in fractions of seconds. In September 2013, Nanex published a report that pointed to an early release of the minutes from a meeting of the Federal Reserve. Nanex's study concluded that traders in Chicago must have received the minutes at least two milliseconds early. While subsequent analysis by other firms such as Virtu Financial have suggested why Nanex's analysis may be flawed, the issue has led to calls from regulators to study the matter more thoroughly.[2]

Products and Services

Nanex's chief product is NxCore, a software system that allows for desktop streaming of market data from Telvent DTN. The NxCore application programming interface (API) accepts all the quotes and trades transmitted by the equity and options which can transmit over 6,500,000 quotes per second, and 6 billion quotes per trading day. [3]

Nanex Order Routing Simulation, May 2, 2013

Nanex showed the following video simulation at the Wired Business Conference in May 2013. This six minute video shows 1/2 second of trading activity in the stock of Johnson&Johnson. THe video is meant to illustrate high frequency trading activity at the millisecond level.

Key People

Eric Scott Hunsader, Founder and CEO

References

  1. Speed trade timing doesn't cause pause on Wall Street. Chicago Tribune.
  2. Fed policy was not leaked early, says study. Financial Times.
  3. NxCore. Nanex.net.