Source: Corvil
Corvil, a provider of Operational Performance Monitoring (OPM) for IT, today announced that Tradition, one of the world's largest interdealer brokers in over-the-counter financial and commodity related products, has deployed CorvilNet for real-time trading visibility and operational performance monitoring (OPM) of their Trad-X and ParFX platforms.
ParFx, Tradition's new electronic trading platform, is designed to bring renewed transparency and equality to global spot FX. The Corvil platform is used to provide independent performance insights into its FX pricing and the full lifecycle of client orders.
Yann L'Huillier, Group CIO of Tradition said: "There is a growing requirement to deliver transparency and equality for all participants. Our trading platforms offer our customers the very highest performance and efficiency of execution for all users. With Corvil we have selected the industry leader in performance monitoring to ensure that we continue to meet these demands."
Corvil's Trade Lens provides Tradition with visibility of key metrics for their Trad-X and ParFX platforms such as latency, fill-rate, order/cancel ratios etc. In addition, multi-hop analysis of latency across their trading infrastructure enables Tradition to proactively manage any threshold violations.
"Tradition is at the forefront of technological development to meet the demand in the market to minimize disruptiveness and provide fairer trading environments. We are delighted that they are using Corvil's OPM Platform to ensure the continued success of their ParFX platform and the highest standards of transparency for their clients," said Corvil CEO, Donal Byrne.