Nomura moves to 'nanosecond' latency monitoring with Corvil
24 February 2011 | 2614 views | 0
Corvil, a provider of latency management systems for high performance trading and market data, today announced that Nomura, the global investment bank, is using Corvil's Latency Management System to achieve nanosecond latency reporting for their ultra-low latency, Direct Market Access (DMA) platform, NXT Direct.
Nomura has been using Corvil technology in its Equities DMA operations to monitor trade performance and validate latency. Traditionally, this has been done at millisecond (thousandth of a second) and then microsecond (millionth of a second) granularity. However, as the performance of Nomura's DMA platform has improved, microseconds are no longer sufficient to track performance. Latency across the various processes within NXT Direct is now best expressed in nanoseconds (billionth of a second).
"Since the launch of NXT Direct, we have been providing ultra-low latency Direct Market Access services to our clients globally below three microseconds latency. Now with Corvil technology, we are delighted to be able to independently verify and monitor this performance at nanosecond granularity," said Sanjoy Choudhury, Co-Head of Electronic Product Management, Americas, Nomura Securities International Inc."
Corvil partnered with Nomura to achieve this result using the latest version of its CorvilNet technology, which measures and reports latencies with nanosecond resolution in real time. This is an industry leading initiative that now allows Nomura to monitor nanosecond-level latency for its DMA clients.
The solution is co-located with all the major US equity trading venues, and provides per-client, per venue analysis. Nomura can also view latencies for single orders, acknowledgements, fills and all other order types.
"There has been an insatiable drive by our customers from milliseconds to microseconds and now to nanoseconds," said Donal O'Sullivan, VP Product Management, Corvil. "Now with our latest release Corvil customers can detect if someone inserts a 10m cable instead of a 5m cable by looking at the latency reports."