Corvil, innovator of electronic trading and market data latency management systems, today announced the rollout of CorvilNet 5.1 and deployment of the latest version of its core software platform by the company's newest client, global agency broker Neonet.
Corvil, with operations in New York, London and Dublin, serves a global client base of leading incumbent exchanges, alternative trading platforms, electronic traders and market service providers. CorvilNet monitors, analyzes and optimizes electronic trading and market data applications against ultra-low latency objectives within a firm's infrastructure and externally through CorvilClear, a policy-based, peer-to-peer sharing of latency and loss performance data between remote sites and interconnected parties.
"Latency management is a category breakthrough, and CorvilNet was a first in pioneering this emerging segment that extends beyond ad hoc latency measurements to include both microsecond application service level monitoring together with real time infrastructure analytics for streamlined, low-latency trading," said Corvil CEO, Donal Byrne. "CorvilNet 5.1 raises the bar for latency management systems with the integration of a host of new powerful features and performance improvements and the Neonet win underscores this value proposition."
Key enhancements of CorvilNet 5.1 include latency measurement of messages (e.g. FIX) that, combined with packet level measurement, provide a deeper and more sophisticated view of trading infrastructure performance. A new multicast gap detection feature monitors market data feed quality and pinpoints inconsistencies. Corvil has additionally ratcheted up the sophistication level for traditional application performance features such as TCP (Transmission Control Protocol) roundtrip measurements that are often inaccurate when applied to high frequency trading applications. Corvil's new TCP analysis capability for trading applications measures roundtrip times not only during connection set-up but also continuously for every segment sent and acknowledged. Live trader dashboards facilitate centralized client and business reporting of real time performance statistics for market data and electronic trading, providing traders an overall operational view across multiple Corvil appliances. With CorvilNet 5.1, Corvil has also significantly elevated performance and scalability through migration from a 32-bit to 64-bit architecture.
"Maintaining a low-latency trading infrastructure is essential for driving our electronic execution business," said Neonet CEO and President, Simon Nathanson. "The velocity of Neonet's direct market access, algorithmic, smart order routing and real time market data services must continuously operate at peak, ultra low-latency performance levels, and will now have a strong catalyst in CorvilNet 5.1. Our focus is to provide clients with an even more efficient service." Neonet pointed to CorvilNet 5.1's roundtrip measurements and diagnostics tools for optimizing message bus latencies of the firm's agency algorithms as standout features. Neonet plans to deploy CorvilNet 5.1 in multiple locations including Stockholm, London, New Jersey and Frankfurt.
CorvilNet enables clients to specify and report against precise latency and loss SLAs (service level agreements) for intra- and inter-party application flows; deploy microsecond monitoring for applications and service channels across networks; troubleshoot violations through automated event capture and root-cause analysis; and leverage real time data of anomalies in applications, networks and resource requirements into a more efficient and competitive electronic trading value proposition.