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Press Releases
- Fixnetix Selects Corvil for Latency Management of its Ultra Fast Market Data Service
- Turquoise Selects Corvil for Low Latency Electronic Trading Infrastructure Assurance
- Corvil Unveils Latest Version of its Latency Management System for High Performance Electronic Trading Networks
- Corvil Shortlisted for Networking Product of the Year
- Corvil secures $12million in New Funding; Vesbridge Partners becomes newest Corvil investor
- Credit Suisse Selects Corvil for Global Low-Latency Networking Deployment
- Corvil to Exhibit as SIFMA 2008 in New York
- Corvil to exhibit at Tradetech 2008 in Paris
- Deutsche Börse Group keeps Algorithmic Traders Primed and Ready using Corvil
- Corvil Delivers Major Breakthrough in Low Latency Networking
- Corvil selected by London Stock Exchange to provide Low-Latency Network Monitoring and Analysis Solution
- Corvil Sponsors John T Lewis Lecture Series
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Turquoise Selects Corvil for Low Latency Electronic Trading Infrastructure Assurance
CorvilNet providing electronic trading latency analytics with microsecond granularity to the MTF
DUBLIN, IRELAND, October 14, 2008 – Corvil, the global market leader in electronic trading and market data latency management, today announced that Turquoise, the pan-European trading platform established by Europe’s leading investment banks, has deployed CorvilNet to monitor trading systems within its London-based market center. Corvil’s global client base encompasses leading market centers, investment banks, hedge funds and allied service providers. CorvilNet monitors, analyzes and optimizes electronic trading infrastructures against ultra low latency objectives, encompassing market data feeds and order execution traffic.
Turquoise - whose members include the largest banks and brokers active in European trading, as well as specialist trading firms and institutions with local, regional and sector focus - recognizes technological innovation as critical to its success; a latency reduction measured in microseconds can offer a significant competitive advantage to a market center’s customers.
“Early in our design process, we decided that market leading low latency and high throughput would be hallmarks of our platform,” said Turquoise CTO, Yann L’Huillier. “As such, Turquoise identified CorvilNet as the management solution that would help in delivering on our promise, particularly as the business grows.”
With the CorvilNet Latency Management System, customers can proactively specify the latency objectives of their trading and market data infrastructures in terms of meaningful microsecond objectives, and automatically and continuously monitor for compliance against those baselines. If latency violations occur, CorvilNet immediately alarms, performs a “smart” packet capture for deep forensics, and provides immediate recommendations for optimizations to re-establish compliance. CorvilNet also measures the headroom available for market surges, traffic growth, or impact of new applications or customers on the network.
“Corvil is increasingly viewed by the global electronic trading industry as the go-to source for innovation in latency management and optimization; Turquoise’s decision is further testament toward this trend,” said Corvil CEO, Donal Byrne.
About Turquoise
The Turquoise Multilateral Trading Facility (MTF) provides electronic execution services to buyers and sellers of pan-European equities. Turquoise’s unique market model recognises the importance of visible order book activity in today’s market structure and reconciles this small order, high frequency activity with traders’ desire to find institutional-size liquidity. Turquoise’s integrated market segment, combines dark and visible orders to increase the likelihood of execution and price improvement for small orders whilst allowing the trading of large, institutional-size orders, efficiently and with the minimisation of information leakage and market impact. Turquoise is an independent company, whose members include the largest banks and brokers active in European trading, as well as specialist trading firms and institutions with local, regional and sector focus. The Turquoise MTF has secured market-making relationships with key stakeholders that, together with its wide membership, differentiated functionality and competitive pricing, ensure critical mass of natural liquidity and make it a venue that every trader will need to access.
About Corvil
Headquartered in Dublin and with operations in New York and London, Corvil’s global client base encompasses leading market centers, investment banks, hedge funds and allied service providers. Recognized as the capital markets technology innovator in network and application latency management, Corvil’s products offer a complete solution for enhancing electronic trading, execution and market data including SLA (service level agreement) compliance, performance monitoring, event troubleshooting and infrastructure optimization.