The LSE Directory / Data providers
Pico, legal name Pico Quantitative Trading LLC, is a New York headquartered financial markets technology company that sells the connectivity, data and software layer institutional trading firms build on rather than a trading venue or a broker itself. Its core offerings are PicoNet, a privately operated low-latency fiber and microwave network linking major financial centers; managed colocation and cross-connects inside 55 plus tier-1 exchange data centers; normalized and direct market data spanning more than 900 exchange and venue products across equities, options, futures, FX and fixed income; Redline, order-execution and market-data-distribution software; and Corvil, a packet-level network and trading analytics platform that captures nanosecond-resolution telemetry for latency monitoring, surveillance and troubleshooting. Pico competes in the low-latency infrastructure and market-data-distribution niche against firms that typically specialise in only connectivity or only analytics; its differentiator is bundling colocation, network, data and analytics as one managed stack so a client does not have to stitch together separate vendors for each layer. Corvil in particular is offered as an "analytics-as-a-service" add-on across the combined client base rather than a standalone product sold only to its original customers. Clients are institutional: banks, exchanges, brokers, market makers, quantitative trading firms and asset managers across the Americas, Europe and Asia-Pacific, and Pico operates as an enterprise B2B vendor with no public self-serve pricing. Pico was founded in 2009 by Jarrod Yuster, who remains Chairman and CEO, after previously serving as global head of Merrill Lynch's electronic trading business from 2002 to early 2009. The company grew partly through acquisition: it agreed to buy Dublin-based Corvil in July 2019, combining into a company then serving more than 400 banks, exchanges, asset managers and technology vendors, and it acquired Redline Trading Solutions in January 2022 to add order-execution and market-data-distribution software to its stack. In July 2022, Pico signed a 200 million dollar investment agreement with private equity firm Golden Gate Capital explicitly to fund further M&A. In 2026 Pico continued expanding market coverage toward round-the-clock trading, adding venues such as Japan Alternative Market and Osaka Digital Exchange in Asia-Pacific, MTS Markets fixed-income connectivity in Europe, and new North American venues including Level ATS, 24X National Exchange and Bruce ATS. In June 2026 it released Corvil Analytics 10.2 with support for LDA Technologies' NeoTap X data-aggregation technology, aimed at giving trading and AI workflows higher-fidelity, verified packet capture at speeds up to 400 gigabits per second.
