Corvil, a provider of latency management systems for high performance trading and market data, today announced an agreement with NASDAQ OMX to provide full latency measurement and transaction performance visibility for their market technology suite of trading platforms in its CorvilNet Latency Management System.
For the first time venues and participants can leverage independent real-time reporting and detailed trade performance and analysis metrics. Under the agreement Corvil will provide full latency measurement and performance visibility across NASDAQ OMX's Genium INET, CLICK XT, and SECUR trading platforms.
Ann Neidenbach, Senior Vice President, Global Technology Products and Services at NASDAQ OMX said, "Our trading platforms offer our customers the very highest speed, performance and scale. In teaming with Corvil we have selected a trusted partner to provide our market technology customers with full transparency into the latency and performance of our platforms both within the exchange and between the exchange and its participants."
"The Corvil-NASDAQ OMX collaboration has enabled Singapore Exchange to achieve world leading ultra low latency performance for our new generation trading platform Reach, which is powered by the NASDAQ OMX Genium INET technology and monitored by CorvilNet. In addition, our market participants can now benefit from full visibility of their order flow latency to our marketplace by using the new CorvilNet OMnet module," commented Bob Caisley, Chief Information Officer at SGX.
The CorvilNet OMnet module is available on all Corvil products. It provides full visibility into transactions, including the routing of individual messages as well as the outcome of the transaction itself. Participants can also compare the relative latency of different transaction types, e.g. fill-or-kill, order vs bid and order cancels; as well as measuring latency contributions from their own equipment, such as trading gateways, smart order routers and firewalls. Flexible latency analysis includes one-way latency, request-response latency and transformation latency across applications.
"Latency measurement and visibility for order execution is very important to us and our clients. Having this capability on our Corvil systems gives us critical insight into thethe performance and trade lifecycle of our order flow as we look to optimize execution quality in all Asian marketplaces," said Greg Lee, Director, Head of Autobahn Equity Asia.
Donal Byrne, Corvil CEO said, "In today's complex trading environments information about performance and speed are critical to optimizing and de-risking trading strategies. Therefore, exchanges need to be in a position to provide full latency transparency into the performance of their marketplace to their participants. We are delighted to team with NASDAQ OMX to bring deep insight and precision visibility to marketplaces and participants alike."
The CorvilNet OMnet Module is available from Corvil in Q4 2011.