Corvil today announced a new solution for Fixed Income market participants, which improves electronic execution quality and reduces market and operational risk.
The new Corvil solution provides for the first time a view into the electronic trading ecosystem that combines counterparty activity, trader and client experience, and underlying technology platform performance in one correlated picture. It is the unique real-time granular view into the lifecycle of every transaction that provides the insight necessary to optimize business performance through better servicing of desks and clients, trade strategy adjustment, and technology optimization.
Today's Fixed Income markets are more complex and more competitive than ever. Participants are challenged to navigate evolving roles between buy-side and sell-side players, new regulations, a rise of algorithmic pricing and hedging, and fragmented liquidity. Many market participants today are limited in the visibility they can glean from trading systems and market providers within and across asset classes, resulting in increased market and operational risk, compliance deficiencies, and missed trading opportunities.
"With electronification and market-making renaissances underway across bond markets, firms that effectively leverage technology to gain insight from trade flows and optimize their system performance will gain better access to liquidity and be well-positioned to satisfy future regulatory transparency requirements," said Anthony Perrotta, CEO and Head of Fixed Income Research at Tabb Group. "Our research indicates that over 60 percent of large banks and asset managers believe workflow optimization solutions will increase their competitive capabilities in 2017-18."
By providing real-time and retrospective visibility into every order, Corvil's solution for Fixed Income trading provides analysis and transparency across the trade lifecycle, providing customers:
Improved client experience by demonstrating execution success, order intent, and algo responsiveness metrics
Reduced market and leg risk through identification, analysis, and insight for remediation of missed prices and hung orders
Reduced operational risk through real-time transaction and technology infrastructure and application performance monitoring
Enhanced transparency to satisfy regulatory requirements for cyber security, precision time synchronized record keeping, and transaction reporting
"The new normal requires market participants to be facile with trading and risk technologies and to know how to extract meaningful insight from the digitization of their trading flows," said Jack Mahoney, CEO of CoreOne Consulting and a 30-year veteran of Fixed Income trading and market structure analysis. "The ability to leverage this growing data asset requires a deep understanding of an asset class market's micro-structure, the trading business's objectives and desk's technical architecture. Those who have mastered this capability will continue to outperform relative those who lag in implementing tools that provide transparency into their pre-trade and trade lifecycle. What is impressive about the Corvil solution is the granularity of real-time information about order flows, hung orders, and things that were intended but never executed."
Corvil's solution caters to multiple stakeholders within customer organizations, delivering business information and intelligence for trading desk heads and business leaders, application visibility and transaction analysis for platform teams, and workflows for technology teams to quickly identify and diagnose advanced issues.
"We recognize leaders of today's digital businesses -- especially those as complex as Fixed Income trading -- require transparency into how their business is performing commercially, visibility into their customer activity and experience, and information about the performance and security of their underlying applications and technology infrastructure," said David Murray, Corvil's Chief Business Development Officer. "Our solution provides a new level of benefit across all three dimensions and we are excited by the customer feedback we have received to date regarding the value delivered."
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