Anova Financial Networks
Anova Financial Networks is a private Chicago-based global carrier that builds hybrid wireless (FSO/MMW/MV) and fiber networks with proprietary Self-Healing FPGA failover, delivering ultra-low-latency connectivity and market data feeds to banks, hedge funds, prop traders, and exchanges across North America, Europe, and Asia.
- Company typePrivate
- Founded2009
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Anova Financial Networks does
Anova Financial Networks, founded in 2009 and headquartered in Chicago, is a privately held global carrier that builds and operates hybrid wireless and fiber connectivity infrastructure targeted at financial institutions. The company combines Free Space Optic (FSO), Millimeter Wave (MMW), and Microwave (MV) wireless technologies with dark and lit fiber — including emerging hollow-core fiber — to deliver ultra-low-latency connectivity for electronic trading. Its proprietary stack includes the Celeras LTS wireless platform (tested at 25Gbps, the longest-distance FSO link in existence at 5km), Self-Healing FPGA-based failover between wireless and fiber paths, and a patent on decreasing queuing latency of wireless paths. The firm also distributes raw and normalized market data feeds from exchanges including CME, NYSE, NASDAQ, CBOE, EUREX, EURONEXT, MEMX, and MIAX over its own network.
Anova operates three integrated product lines: Wireless Services (bandwidth from 1Mbps to 40Gbps), Fiber Services (up to 99.999% uptime), and Market Data Feeds, all unified by its Self-Healing technology. Revenue is generated through subscription recurring contracts and managed services on multi-year terms with custom enterprise pricing tied to bandwidth, route, and redundancy requirements. The go-to-market is direct enterprise field sales led by CCO Joe Hilt, targeting banks, prop trading firms, exchanges, hedge funds, and asset managers across North America, Europe (UK, Germany, Ireland, Italy, France), and Asia (Japan). The company has executed a multi-year expansion arc — from a U.S.-only NJ Equity Triangle operator to a transatlantic carrier with the 2025 CME-LD4 sub-34ms launch and a 2026 European buildout adding Frankfurt, Bergamo, and Marseille endpoints. CEO Michael Persico (founder) retains control; no venture or institutional funding rounds are disclosed, indicating organic/bootstrapped growth across 16+ years of operation.
Anova Financial Networks firmographics
Firmographics- Name
- Anova Financial Networks
- Legal name
- Anova Financial Networks
- Website
- https://anovafn.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Anova Financial Networks is a private Chicago-based global carrier that builds hybrid wireless (FSO/MMW/MV) and fiber networks with proprietary Self-Healing FPGA failover, delivering ultra-low-latency connectivity and market data feeds to banks, hedge funds, prop traders, and exchanges across North America, Europe, and Asia.
- Ownership category
- akta.pro rank
Anova Financial Networks industry classification
Industry- Product category
- Financial Connectivity Services
- NAICS
- Wireless Telecommunications Carriers (except Satellite) (517112), Wired Telecommunications Carriers (517111)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Data Distribution, Connectivity & Market Data Platforms (Entitlements, Normalization, APIs) (FSAFAIAJ)
- akta.pro secondary industry
- Client Reporting Gateways & Connectivity Providers (Submission/Message Translation) (FSAFAJAG)
Keywords
Where Anova Financial Networks is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Anova Financial Networks business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Infrastructure, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Wireless Bandwidth Services: Metro and long-haul wireless bandwidth solutions delivering ultra-low latency connectivity for financial institutions. Scalable bandwidth options from 1Mbps to 40Gbps. Includes Self-Healing technology for reliability.
- Fiber Connectivity Services: Dark and lit fiber, long-haul capacity and metro networks providing high-speed, low-latency connections. Up to 99.999% uptime guarantee. Global reach across North America, Europe and Asia.
- Market Data Distribution: Raw and normalized market data feeds from leading exchanges (CME, NYSE, NASDAQ, EUREX, EURONEXT, CBOE, MIAX, MEMX). Delivered via ultra-low latency wireless and fiber networks.
- Private Bandwidth Products: Cutting-edge private bandwidth products combining high-capacity microwave connectivity with ultra-fast transatlantic fiber systems. Ready-to-deploy solutions without client integration complexity.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Multi-year contract | Scalable bandwidth from 1Mbps to 40Gbps |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Anova Financial Networks product offering
Product offeringCore offering
Anova Financial Networks is a global carrier delivering ultra-low latency wireless and fiber connectivity for the financial industry. The company offers metro and long-haul wireless bandwidth (utilizing FSO, MMW, and MV technologies), fiber services with hollow-core integration, and raw/normalized market data feeds from major global exchanges (CME, NYSE, NASDAQ, EUREX, EURONEXT, CBOE, MIAX, MEMX). Proprietary technologies include the Self-Healing FPGA-based failover system and the Celeras LTS wireless platform tested at 25 Gbps.
Product overview
Anova Financial Networks is a unified connectivity and market data platform offering three core products: Wireless Services (utilizing proprietary FSO, Millimeter Wave, and Microwave technologies), Market Data Feeds (raw and normalized data from major global exchanges), and Fiber Solutions (dark and lit fiber with hollow-core technology). These offerings are unified by proprietary Self-Healing Technology using FPGA code that seamlessly integrates wireless and fiber networks for maximum reliability. The Celeras LTS platform powers their advanced wireless capabilities, while 24x7 NOC support ensures continuous service delivery. The company is the only global carrier offering both wireless and fiber connectivity combined with comprehensive market data distribution across all asset classes.
Differentiator
Problem solved
Functional benefit
Products and services
- Wireless Services Metro and long-haul wireless bandwidth solutions for financial institutions delivering ultra-low latency connectivity using Free Space Optic (FSO), Millimeter Wave (MMW), and Microwave (MV) technologies. Scalable from 1Mbps to 40Gbps with Self-Healing failover to fiber for reliability.
- Market Data Feeds High-speed raw and normalized market data distribution from major global exchanges including CME, NYSE, NASDAQ, MEMX, MIAX, EUREX, EURONEXT, and CBOE, delivered via ultra-low latency wireless and fiber networks for near 100% availability.
- Fiber Services Dark and lit fiber, long-haul capacity, and metro networks providing high-speed, low-latency connections with up to 99.999% uptime guarantee. Integrates hollow-core fiber technology that transmits data through air-filled channels to reduce latency by nearly one-third versus standard fiber.
- 24x7 Network Operations Center (NOC) Support White-glove 24x7 Network Operations Center support with direct escalation to Tier 2 engineers, real-time network performance monitoring, and proactive communication for rapid issue resolution across the global Anova network.
Quantifiable outcome
- Sub-34ms latency on CME to LD4 route - fastest commercially available
- +5 more outcomes
Companies that use Anova Financial Networks
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Anova Financial Networks technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Anova Financial Networks partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Industry-Leading Transatlantic Cable Company (unnamed)corePartnership to deliver the fastest commercially available service from Chicago (CME) to London (Equinix LD4). Combines AFN's high-capacity Chicago to NJ microwave connectivity with ultra-fast transatlantic fiber system. Enables extension to Dublin, Frankfurt, Bergamo and other European/Asian liquidity centers.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Anova Financial Networks competitors and assessment
Company assessmentBroad incumbents
- Verizon Business: Inherited XO Communications and other carrier assets giving Verizon a low-latency wholesale backbone and global IP services to financial firms. Competes with AFN on broad enterprise and exchange connectivity but lacks AFN's wireless-trading specialization.
- Lumen Technologies: Large incumbent carrier with a financial services vertical offering low-latency wavelength, Ethernet, and CDN/edge services to trading firms. Overlaps with AFN in fiber routes and exchange connectivity but competes across a much broader portfolio.
Direct peers
- Zayo Group: Infrastructure provider with extensive dark and lit fiber routes in North America and Europe, plus financial-industry wavelength services. Competes with AFN on key low-latency paths such as NJ-to-Chicago and transatlantic capacity.
- Colt Technology Services: Global network operator with a dedicated Colt Financial Services division providing ultra-low latency Ethernet and wavelength services between trading hubs in Asia, Europe, and the Americas - the closest functional analogue to AFN's wireless+fiber+market-data stack.
- IPC Systems: Provider of trading communications infrastructure including network services, voice, and compliance offerings for financial markets. Closely comparable as a specialty carrier targeting the same trading and exchange clients as AFN.
- BSO Networks: Niche carrier specializing in low-latency connectivity for capital markets, hedge funds, and exchanges globally; offers private Ethernet, cloud connectivity, and FX-rate trading services directly competing with AFN's managed-bandwidth product.
- Telxius: Submarine cable operator and global connectivity provider operating transatlantic capacity (e.g., BRUSA, Marea) and terrestrial networks. Likely the unnamed 'industry-leading transatlantic cable company' that partnered with AFN on the CME-LD4 route.
- GTT Communications: Global tier-1 carrier serving financial markets with low-latency wavelength, Ethernet, and cloud connectivity; acquired Hibernia Networks (which built the original lowest-latency transatlantic cable - the same lineage AFN's CCO Joe Hilt comes from).
Others
- EXFO: Provider of network testing, monitoring, and analytics instruments - adjacent to AFN's NOC and Self-Healing operations. Comparable in serving telecom-grade reliability needs of financial networks rather than directly competing for transport revenue.
Regional players
- HGC Global Communications: Hong Kong-based carrier serving Asian financial hubs with low-latency fiber routes; highly relevant to AFN's Asian footprint and a peer for cross-regional trading routes that anchor global bank clients.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Anova Financial Networks social profiles
Digital presenceAnova Financial Networks financial estimates
Financial estimateRevenue estimate
Valuation estimate
Anova Financial Networks leadership team
Management profileNumber of profiles
Profiles1 record
Anova Financial Networks funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Anova Financial Networks M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Anova Financial Networks
What does Anova Financial Networks do?
Anova Financial Networks is a global carrier delivering ultra-low latency wireless and fiber connectivity for the financial industry. The company offers metro and long-haul wireless bandwidth (utilizing FSO, MMW, and MV technologies), fiber services with hollow-core integration, and raw/normalized market data feeds from major global exchanges (CME, NYSE, NASDAQ, EUREX, EURONEXT, CBOE, MIAX, MEMX). Proprietary technologies include the Self-Healing FPGA-based failover system and the Celeras LTS wireless platform tested at 25 Gbps.
Is Anova Financial Networks a public or private company?
Anova Financial Networks is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Anova Financial Networks founded?
Anova Financial Networks was founded in 2009. It employs 11 to 50 people.
Where is Anova Financial Networks based?
Anova Financial Networks is headquartered in Chicago, United States, in the North America region.
How does Anova Financial Networks make money?
Four revenue lines are on record. Wireless Bandwidth Services are the primary driver. The others are fiber Connectivity Services, market Data Distribution and private Bandwidth Products.
Who are Anova Financial Networks's main competitors?
Broad incumbents on record are Verizon Business and Lumen Technologies. Direct peers are Zayo Group, Colt Technology Services, IPC Systems, BSO Networks, Telxius and GTT Communications. EXFO is listed as an others. HGC Global Communications is listed as a regional player.
Does Anova Financial Networks have an API?
No public API is recorded for Anova Financial Networks.
What industry is Anova Financial Networks in?
Anova Financial Networks's product category is Financial Connectivity Services. Its primary akta.pro industry code is FSAFAIAJ, Data Distribution, Connectivity & Market Data Platforms (Entitlements, Normalization, APIs), with a secondary code of FSAFAJAG, Client Reporting Gateways & Connectivity Providers (Submission/Message Translation). Its NAICS code is 517112 and its SIC code is 7370.