Prior to my sales role at Corvil, I supported trading desks. This meant way too many experiences with inefficient trading technology systems and bad data, which in turn led to many late nights and uncomfortable conversations with the business side. I interacted daily with salespeople and traders, front- and back-office technology, product control, COOs, finance, business heads, risk, and operations teams. Over the years, I’ve developed an appreciation for the various functions and how important they are to the business.
Data was always the most useful resource for our job. Unfortunately, it was also the most frustrating. For those of you who work or have worked in the roles I just mentioned, the following problems should sound familiar:
A trading desk is very dependent on support teams to bring them information so they may make decisions about their business. Working in a role without proper controls and access to accurate data can be frustrating.
I had always wondered what it would take to eliminate those late nights and dreaded conversations. Then, it seemed a bit of a pipe dream: I would need a perfect data source, historic and searchable and fast. Armed with this data, I would be confident in knowing I could always explain a problem with the back-up of evidence, or understand the larger (or smaller) context of any suspicious event or any transaction called into by a regulator.
Now, I’ve luckily seen that this is not just a dream! Corvil technology can help make your business more efficient. Our trading customers choose Corvil because they have similar dreams of accurate data.
Traditionally, wire data packets have been used by network engineers to discover and troubleshoot the health and performance of the network. At Corvil, we look at wire data in a completely different way. We analyze, transform, and enrich the raw wire data to create a continuous stream of granular and accurate intelligence for business, security, and IT operations teams to see, understand and act on their business as it happens live.
We capture this network data via span ports or aggregation switches and taps. It’s decoded, normalized, analysed, and presented back to you in real-time. Trading desks need independent and authoritative data that drives real-time monitoring, troubleshooting, reporting, and decision making. You must have a full, comprehensive view of how your trading desk is performing and be able to understand the intricacies of your business.
If the worst happens and your trading systems buckle or behave unpredictably during these times, then the accuracy of system reporting can be called into question by regulators. This is when you’ll need an independent report of exactly what happened, and this report must be delivered by analytics that are perfectly traceable to the original network packets communicating the trade details. This traceability safeguards your trading business both in real time and in the long term.
You need this data for alerts, to feed risk and compliance tools, or to correlate it against databases from MongoDB, Splunk, KDB+, ElasticSearch, or Tableau. And with Dodd-Frank, MiFID, and other regulatory reforms, access to accurate and precise data is paramount.
If only I had Corvil and such access to the wire data in my past life: the businesses I supported would have been happier, my sleepless nights would have been much fewer, and my life would have been easier. Useful access to wire data isn’t just a dream anymore — it’s happening every day, all around you.