OAKLAND, Calif. & CHICAGO & GENEVA & PARIS--BUSINESS WIRE--
McKay Brothers ("McKay" or "the Company"), a market leader in ultra-low latency market data and wireless networks, today announced that Citadel Securities has made a minority investment in McKay to support the continued growth of its global data and connectivity business.
Under the terms of the transaction, Citadel Securities will receive an equity stake in the Company and McKay's co-founders, Stéphane Tyč and Bob Meade, will continue to hold the controlling majority of the Company's equity. Financial terms of the agreement were not disclosed.
McKay will continue to operate independently and under its core business principles, which include offering its subscribers a level playing field and equal access to the lowest latency service.
Bob Meade, McKay co-founder, said: "Citadel Securities' investment provides ongoing validation of McKay's vendor model, which offers services on a level playing field to all subscribers. The investment also bolsters our already strong financial position and supports our commitment to innovation and technical excellence."
Stéphane Tyč, McKay co-founder, added: "Our service vendor model makes our lowest latency available to all subscribers and ensures it cannot be dominated by any market participant, contributing to fair and competitive markets. This agreement with Citadel Securities maintains McKay's autonomy and supports our continued growth."
About McKay Brothers:
McKay - through McKay Brothers, LLC, Quincy Data, LLC and other controlled affiliates - are the world's leading providers of ultra-low latency market data technology and wireless infrastructure. The company has served the financial markets' most demanding trading firms since 2012. McKay services are anchored by faster-than-fiber wireless networks interconnecting major global financial centers with curated market data and time-sensitive trade messages. All services are provided under a Level Playing Field policy, meaning the fastest services are made available to any subscriber.
