Corvil, a provider of latency management systems for high performance trading and market data, today opened its regional headquarters in Singapore.
The office will service a growing client base and will be used as a launch pad for further expansion throughout the Asia-Pacific region, which it believes is a key growth market.
Asian markets are evolving rapidly with increased investment in new trading infrastructure such as the launch of the Singapore Exchange's ultra-fast, next-generation trading engine Reach, and the prior launch of the Tokyo Stock Exchange's high-speed Arrowhead trading system. Technology spend in the region is on the rise along with adoption of High Frequency Trading, driven by market demand, stock exchange consolidation and greater regulatory acceptance. According to the Tokyo Stock Exchange around 30% of trades are now classified as high frequency.
"Asia is a key growth market for high performance trading and in turn the monitoring of this activity," says Donal Byrne, Corvil CEO. "We have seen an increase in business in this region from banks and exchanges who are making a significant investment in technologies to optimize their services for ultra-low latency. The new office is another step in our strategy of building a world-class business for the provision of latency management solutions with a strong competitive edge in Asia."
The new office will be headed by VP Sales Asia, Peter O'Connor who has over seven years extensive experience at Corvil selling latency management solutions to key trading institutions. Corvil also has offices in London, Dublin and New York.