Tower Research Capital invests in 5% of McKay Brothers

Low latency networks provider McKay Brothers has closed an investment from affiliates of Tower Research Capital LLC for 5% of McKay equity, the company said.

Together, with the previously announced investment from IMC affiliates for 20% 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.

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. It has main offices in Oakland, Geneva and Paris.

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, the company trades multiple asset classes in over 150 venues worldwide and is an innovator and a leader in the field of computerized trading.

Founded in Amsterdam in 1989, IMC is technology-driven trading firm, active on over 100 trading venues around the world.