McKay Brothers, a market leader in low latency networks, received investments from Susquehanna International Group and XR Trading.
The amount of the deal was not disclosed. Under the terms of the agreements, McKay’s founders will continue to control the McKay companies, holding over 70% of the equity. Susquehanna and XR join IMC and Tower Research Capital as minority equity holders of McKay.
The company intends to use the funds for continued growth of its private bandwidth and market data businesses.
Co-founded by Bob Meade and Stéphane Tyč, McKay, through McKay Brothers, LLC, Quincy Data, LLC and other controlled affiliates – designs, builds and operates 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, the company has provided its lowest latency services in the US, Europe and Asia.
It has offices in Oakland CA, Geneva, and Paris.