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 to identify the risks of trading anomalies, flaws and threats; giving firms more control over high-speed trading.
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.
CorvilNet attaches to the client’s current e-trading infrastructure to capture trading activity data for off-line analysis
and reporting.
The solution uses wire data to monitor and capture information being transmitted within and out of the firm, including orders placed and aggregated fills received, as well as unexpected or unauthorized transactions.
The release also includes live updating screens that show the whole trading system in real-time. Users have the ability to configure alerts for trading anomalies, technology glitches and operational errors.
“Corvil continuously analyses wire data, detects trading events and also monitors system health in real time,” comments James Doherty, managing director of equities at Credit Suisse, in a statement. “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.”
Other aspects of the solution include the ability to store data captured from trading related messages like wiretaps, aggregation switches or software logs for historical analysis.
Data can also be exported into external systems for different interfaces common in the industry. Auto-discovery and configurable reporting windows allow for easy integration.
Currently used by over 20 trading institutions, Corvil collaborated with exchanges and broker dealers for the development of the solution.
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.
Corvil CEO Donald Bryan adds, “With this release, we wish to empower our customers with a powerful set of new capabilities to mitigate technology risk while proving a platform for the future that is equipped to meet the needs of upcoming regulations.”
“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.
For more information, visit the official website here.
