Addresses urgent industry need to better manage operational risk and
demonstrate compliance with new regulations
NEW YORK and LONDON, Oct. 14, 2013 /CNW/ - Corvil, provider of the
leading monitoring platform for financial markets, today announced the
first real-time general purpose risk and compliance monitoring solution
for all kinds of electronic trading businesses. Suitable for use across
all asset classes and very easy to integrate into existing
infrastructures, the new Corvil solution solves the growing need for
better control over high-speed electronic trading systems. Recent
public trading anomalies and glitches demonstrate the urgent case for
such careful control over shared financial technology.
The solution provides for continuous compliance monitoring for new
regulations aimed at safeguarding operations of electronic trading
infrastructure, and delivers an authoritative data capture of all
trading activity to be used in off-line analysis and reporting. Corvil
has collaborated with the world's leading exchanges and broker dealers
in the development of this solution. It is available immediately via
the latest release of the CorvilNet platform. Over twenty major trading
institutions have already deployed the new release into their
"By providing us with critical data analytics on an automated basis, the
new release of CorvilNet greatly aids the compliance and performance
monitoring of NYSE Euronext's U.S. markets," said Bruce Lee, Group
Chief Information Officer at NYSE Euronext.
The Corvil solution introduces a key new paradigm necessary to address
the specific challenges involved in modern trading infrastructure.
Corvil monitors and captures all information as it is being transmitted
on the network wire with zero impact on the performance of the trading
systems and no changes required in existing software. By using network
wire data, the Corvil solution is able to independently observe 100% of
all activity into, within and out from a customer's firm. It can watch
orders placed and aggregate fills received, including those that are
unexpected and unauthorized.
"You can sleep much better at night knowing you have a completely
independent watchdog system that sees everything. It's easy to mitigate
risk in the situations you've thought about. The scary situations are
the events no one has imagined, and this helps protect us from those,"
commented James Doherty, Managing Director of Equities at Credit
Corvil continuously analyses wire data, detects trading events and also
monitors system health in real time. Supervisors are made aware of
anomalies, threats and faults within seconds. Corvil alerts can be fed
directly to automated processes, which can enforce position limits,
message-rate caps, kill switches or load balancing.
"Algorithmic-driven trading anomalies, technology glitches and
operational errors must be captured, detected, analysed, alerted and
acted upon within seconds as opposed to minutes, hours or at end of
day. We have seen hundreds of millions of dollars wiped off business
balance sheets in a matter of minutes when a trading glitch occurs. We
need new systems in place that can perform risk and compliance
management functions for trading infrastructure in real-time without
impacting the performance or quality of execution," commented Sang Lee,
Managing Partner at Aite Group.
A typical CorvilNet deployment can capture millions of trading-related
messages per second, from wire taps, aggregation switches, or even
software logs, and then decode, correlate, analyse and alert in
real-time. Data can be stored for historical analysis and can be
exported to external systems using many industry standard interfaces.
The latest release of CorvilNet introduces a number of new capabilities
including live updating screens showing exactly what is happening right
now across your whole trading system. Through the use of CorvilLens, a
fully integrated real-time network, application and business-specific
view is provided in a single screen. New sophisticated alerts based on
user-defined events can be used to restrict trading or alert personnel
to financially threatening events. Autodiscovery capabilities and
configurable reporting windows ease integration and ongoing operations.
"Our goal is to make CorvilNet the defacto standard platform for
performance, risk and compliance monitoring in the financial vertical,"
said Corvil CEO, Donal Byrne. "We understand that ensuring the
operational performance and robustness of trading infrastructures is an
extremely high priority for our customers. With this release, we wish
to empower our customers with a powerful set of new capabilities to
mitigate technology risk while providing a platform for the future that
is equipped to meet the needs of upcoming regulations. We look forward
to continued collaboration with the industry to tackle this important
Corvil provides Operational Performance Monitoring (OPM). The Corvil
platform extracts real-time operational intelligence from wire data and
uses this intelligence to analyse the performance of IT applications
and services, detect and alert on events in real-time and export
enriched data for business intelligence and risk management analysis.
Customers use Corvil to optimise and safeguard the operational
performance of their business processes and services. The Corvil
platform uniquely handles the demands of high-performance, low-latency
and data intensive IT environments. The company was founded in 2000 and
operates from New York, London, Singapore, Tokyo and Dublin. For more
information on Corvil please visit http://www.corvil.com.
For further information:
Aspectus PR, Steph Johnson, email@example.com, +1-646-202-9842