Pico
- Company typePrivate
- Founded2009
- HeadquartersNew York, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
Pico firmographics
Firmographics- Name
- Pico
- Legal name
- Pico Quantitative Trading LLC
- Website
- https://pico.net
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Where Pico is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Pico business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Infrastructure, Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain
Revenue model
- Managed Services & Infrastructure Recurring Revenue: Recurring managed services revenue from colocation, 24/7 Service Operations Center support, device management, cloud services, and ongoing connectivity subscriptions across 55+ data centers. Recurring revenue was an explicit acquisition rationale for the Redline deal.
- Connectivity Subscriptions (PicoNet™): Recurring revenue from PicoNet™ connectivity subscriptions, dark fiber, 40/100Gbps circuits, Layer 1/3 access, and cross-connect fees to 900+ exchange and venue products.
- Corvil Analytics Subscriptions & Appliance Sales: Subscription/license revenue from Corvil Analytics software, plus hardware appliance sales (Corvil 12000, 10000, 8800, 7950, 6950) supplied at cost. Includes Corvil Cloud Analytics and Corvil Connectors streaming to Splunk/Elastic/Kafka.
- Redline Trading Software Licensing: Software licensing revenue from Redline (InRush Ticker Plant, RedlineFeed, Order Execution Gateway, Pre-Trade Risk), with both self-managed and fully managed service deployment models. Managed services option for Redline experts to operate infrastructure 24/7.
- Market Data Fees: Revenue from direct exchange market data redistribution (Top of Book and Full Depth from equities, options, futures, FX, fixed income) and historical market data (Pico Raw Historical Data / PCAP).
- Professional Services & Technology Procurement: Project delivery management, delivery-as-a-service, technology procurement (VAR partnerships with 2–4 week delivery, purchase or lease financing), and Corvil training/certification (CCE, CCA courses).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise quote-based pricing across all PicoNet, Corvil, Redline, and managed services |
| Other | Annual | Corvil Certified Expert (CCE) classroom training — free for clients on maintenance |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels9 records
Pico product offering
Product offeringCore offering
Pico provides mission-critical technology infrastructure for global capital markets, combining a proprietary ultra-low latency global network mesh (PicoNet™), a packet-level network and trading analytics platform (Corvil Analytics), and an ultra-low latency trading software suite (Redline). These are delivered as Market Services — end-to-end managed connectivity, colocation across 55+ data centers, direct exchange market data, cloud services, and 24/7 expert operations — to global banks, exchanges, hedge funds, market makers, and fintechs.
Product overview
Pico provides an integrated platform-plus-modules architecture for global capital markets, built around three core offerings that work together: PicoNet™, the proprietary ultra-low latency global network mesh; Corvil Analytics, the network-derived analytics platform (with flagship Corvil 12000 appliance, 600+ decoders, Corvil Intelligence Hub, Corvil Sensor, Corvil AppAgent, and Corvil Center); and Redline Trading Software, the ultra-low latency trading suite comprising InRush Ticker Plant, RedlineFeed, Order Execution Gateway, Pre-Trade Risk, and Managed Service. These products are delivered as Market Services — end-to-end managed infrastructure including PicoNet™ connectivity, colocation in 55+ data centers, raw and historical market data, and 24/7 expert operations — and are wrapped with IntelliVUE for real-time network monitoring and Corvil-based AI-ready analytics streaming to external platforms.
Differentiator
Problem solved
Functional benefit
Brands
- Corvil Analytics: Pico's packet-level network and trading analytics platform, providing independent visibility captured directly from the network for electronic trading and enterprise observability.
- Redline
- PicoNet
- IntelliVUE
- InRush Ticker Plant
- RedlineFeed
Products and services
- PicoNet™ PicoNet™ is Pico's proprietary ultra-low latency global network mesh connecting 900+ exchange and venue products across three regional meshes (AMRS, EMEA, APAC). The three-tier architecture spans venue, core, and distribution tiers with dark fiber, 40/100Gbps circuits, and lowest-latency switches, instrumented natively with Corvil Analytics for telemetry.
- Corvil Analytics Corvil Analytics is Pico's packet-level network and trading analytics platform capturing packets at up to 200Gbps with nanosecond precision to produce a single golden source of truth for both electronic trading analytics and enterprise network observability. It supports 600+ protocol decoders, ML/AI-powered anomaly detection, and streaming to Splunk, Elastic, Kafka, Kinesis, Hadoop, and KX/kdb+.
- Corvil 12000 Appliance
Quantifiable outcome
- Reduces cost of packet analysis by up to 3x
- +7 more outcomes
Companies that use Pico
Customer profileNamed customers20 records
Segments9 records
Ideal customer profiles5 records
Pico technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration25 records
AI capability3 records
Feature8 records
Pico partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered flagship, core and minor.
- AMDflagshipStrategic collaboration announced October 28, 2025 to expand Pico's hardware ecosystem with AMD enterprise solutions. Integration includes AMD EPYC processors, Solarflare Ethernet Adapters, and Redline software, enhancing performance for financial market clients. The Corvil 12000 is powered by AMD processors with a path to sustained 400Gbps.
- DellflagshipPico and Dell launched the Corvil 12000, delivering 200Gbps sustained network capture and real-time analytics (September 16, 2025). Dell provides the hardware platform that powers the Corvil 12000.
- SIX (Swiss Exchange)flagshipSix expanded adoption and integration of Corvil Analytics to monitor its financial information business (August 6, 2025). Pico + SIX collaboration strengthens data transparency and operational performance for the global financial data and market infrastructure provider.
- Coinbase DerivativescoreStrategic relationship announced April 16, 2025 to enhance exchange connectivity infrastructure. Initial phase involved Pico's expert team driving a complete infrastructure migration while maintaining operational continuity for seamless transition.
- BMLLcoreStrategic partnership announced January 14, 2025 to offer enhanced historical and real-time data integration capabilities. Addresses growing need for simultaneous access to real-time and historical data sets to accelerate research, understand liquidity dynamics, and optimize trading outcomes.
- MTS MarketscoreIntegrated MTS Markets onto PicoNet™ (July 23, 2024), delivering enhanced European market connectivity, comprehensive data, and order entry solutions.
- Blue Ocean TechnologiescorePartnership announced July 9, 2024 to expand Pico's market services for after-hours US Equities Trading via PicoNet™. Blue Ocean is the first leading market operator enabling 24-hour trading days in equities; jointly driving growth among Pico's Asia Pacific and global subscribers.
- Redline Trading SolutionsflagshipPico announced acquisition of Redline Trading Solutions (January 4, 2022) to enhance technology offerings for financial markets, accelerate recurring revenue, expand global infrastructure, and improve access to real-time and historical market data. Now forms Pico's Redline trading software suite.
- IntelflagshipPico teams with Intel for 100Gbps real-time analytics in financial markets (May 13, 2021). Uses 3rd Gen Intel Xeon Scalable processors (Ice Lake) to power Corvil Analytics. Joint technology development and product integration.
- OneChronosminorPartnership referenced via Pico blog post titled "Pico and OneChronos: A Partnership Driving Fintech Growth." Co-marketing and integration collaboration.
- SplunkcoreCorvil Splunk Connectors stream real-time data to Splunk. Corvil Analytics integrates with Splunk for trading and network observability use cases.
- ElasticcoreCorvil Analytics streams data to Elastic via Corvil Connectors for observability and AI-ready pipelines.
- Apache KafkacoreCorvil Connectors stream real-time analytics and trading data to Apache Kafka for downstream consumers.
- AWS / Microsoft Azure / Google Cloud (GCP)flagshipPico Cloud supports private, public, and hybrid environments with all major cloud providers. Managed connectivity options include Direct Connect, Pico Connect, and internet VPN with Corvil monitoring of all cloud VPC traffic. Corvil Cloud Analytics is generally available on AWS.
- Corvil AnalyticsflagshipCorvil Analytics is Pico's packet-level network and trading analytics platform, integrated into PicoNet™ as the native instrumentation layer. Acquisition history referenced; Corvil has been Pico's analytics backbone for over two decades.
- Texas Stock Exchange (TXSE)flagshipFirst-to-market connectivity partnership announced April 28, 2026 for TXSE's launch. Extranet connectivity to TXSE now available via PicoNet™, with market data and order execution support via Redline Trading Software.
Scale indicators11 records
Recent moves8 records
Expansion highlights6 records
Pico competitors and assessment
Company assessmentDirect peers
- IPC Systems: Direct competitor in low-latency trading communications, managed network services, and turret/voice trading infrastructure for global financial institutions. IPC's Connexus API and managed connectivity overlap directly with PicoNet™ and Pico's managed services for tier-1 banks.
- Options Technology: Direct peer in managed IT infrastructure and colocation services for capital markets, providing connectivity, hosting, and managed services to hedge funds, prop trading firms, and exchanges — comparable managed-services model to Pico Market Services.
- Exegy: Direct competitor in low-latency market data and trading infrastructure, offering feed handlers, ticker plants, and FPGA-accelerated appliances. Closely comparable to Pico's Redline/InRush and Corvil Analytics product lines for trading and market data delivery.
Broad incumbents
- Itiviti (Broadridge Trading and Connectivity Solutions): Acquired by Broadridge in 2021, Itiviti provides trading technology, connectivity, and market data services to sell-side institutions. Overlaps with PicoNet™ connectivity and Redline trading software, though positioned as a broader sell-side OMS/EMS vendor.
- Equinix: Largest global colocation operator housing financial exchanges' matching engines; while Equinix provides neutral colocation rather than connectivity services, its acquisition of BT Radianz assets places it in overlapping territory with Pico's PicoNet™ fabric.
- Colt Technology Services: Global network operator with low-latency connectivity and on-demand services used by financial institutions. Competes with PicoNet™ at the connectivity layer via its dedicated financial-services routes and PrizmNet cross-connect ecosystem.
- Cisco (Metamako): Cisco acquired Metamako in 2019 to extend into low-latency networking for capital markets. Competes with Pico's Corvil Analytics packet-level intelligence and low-latency switching fabric at the network layer, with broader enterprise networking reach.
- Arista Networks: Provider of high-performance, low-latency switching used in trading infrastructure (Pico itself uses Arista as standard ToR). Indirect competitor in the network layer where Arista's switches compete with Pico's proprietary single-switch platform backbone.
Emerging players
- OneMarketData (Lattice): Provider of tick historical market data and analytics infrastructure. Adjacent competitor in Pico's Historical Market Data (PRHD/PCAP) offering, where OneMarketData's Lattice Exchange and Data Feed services overlap.
- BMLL: Provider of harmonized historical and real-time Level 3 market data for quantitative research. Now a strategic partner of Pico (Jan 2025) but adjacent competitor in data analytics, where BMLL's normalized data feeds can substitute for portions of Pico's analytics stack.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
Pico social profiles
Digital presencePico compliance and trust
Trust signalCompliance9 records
Pico financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pico leadership team
Management profileNumber of profiles
Profiles15 records
Pico subsidiaries and ownership
Company hierarchySubsidiaries3 records
Pico funding detail
Funding detailFunding overview
Funding rounds4 records
Investors21 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pico M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pico
What does Pico do?
Pico provides mission-critical technology infrastructure for global capital markets, combining a proprietary ultra-low latency global network mesh (PicoNet™), a packet-level network and trading analytics platform (Corvil Analytics), and an ultra-low latency trading software suite (Redline). These are delivered as Market Services — end-to-end managed connectivity, colocation across 55+ data centers, direct exchange market data, cloud services, and 24/7 expert operations — to global banks, exchanges, hedge funds, market makers, and fintechs.
Is Pico a public or private company?
Pico is a private company. It is classified as venture growth investor backed and is currently operating.
When was Pico founded?
Pico was founded in 2009. It employs 251 to 500 people.
Where is Pico based?
Pico is headquartered in New York, United States, in the North America region.
How does Pico make money?
Six revenue lines are on record. Managed Services & Infrastructure Recurring Revenue is the primary driver. The others are connectivity Subscriptions (PicoNet™), corvil Analytics Subscriptions & Appliance Sales, redline Trading Software Licensing, market Data Fees and professional Services & Technology Procurement.
Who are Pico's main competitors?
Direct peers on record are IPC Systems, Options Technology and Exegy. Broad incumbents are Itiviti (Broadridge Trading and Connectivity Solutions), Equinix, Colt Technology Services, Cisco (Metamako) and Arista Networks. Emerging players are OneMarketData (Lattice) and BMLL.
Does Pico have an API?
Yes. Pico offers a public/partner-facing Corvil API and Corvil SDK that allow organizations to integrate, automate, and customize Corvil Analytics. The Corvil Streaming Data API exposes analytics, trading and market data messages, and underlying packets to external systems. Access is available via REST, Splunk, and Kafka. The Corvil API & SDK supports programmatic access and automation of Corvil's data, analysis, and features. Pico also references LLM, AI agent, and MCP-based architectures that can transform access to Corvil's trading and network analytics data, enabling natural-language queries. Developer documentation is at www.pico.net/products/corvil-analytics/corvil-api-sdk.