Corvil taps into the data flowing across the FX network to provide an independent, real-time authoritative record of all FX market data, pricing and trading activity with nanosecond precision. Corvil captures, timestamps, decodes, correlates and analyzes this data in real-time, with zero impact on the performance of the FX trading infrastructure. The resulting real-time business and operations metrics are used by multiple teams including compliance, client reporting, trade support, and IT operations.
In electronic FX, reducing the latency of the Pricing Engine is key to reducing arbitrage risk. Corvil specifically supports “Tick to Quote” latency measurement to allow optimization of this critical performance indicator. From a customer relationship point of view, Corvil is used to assure fast order response times both for client orders and orders sent to FX liquidity providers. Corvil can also be be used to collect a precision machine-time data record of all transactions and maintain a forensic audit-trail record of all messages involved in a transaction for compliance report purposes.