Electronic TradingPrecision Trade Transaction Capture

For Compliance, Transparency And Forensic Analysis

Understand complex trading activity as it happens

Regulations such as MiFID II demand an accurate and timestamped record of all trade activity. But this data has huge value beyond compliance. It’s also the key to gaining transparency into client execution and to perform swift forensic investigations.

With zero overhead to your trading systems, Corvil passively captures a record of each trade transaction with nanosecond precision and traceability to UTC (supporting MiFID II, RTS-25).

By analyzing every network packet flowing through the trading infrastructure, Corvil is guaranteed to see and record everything. Corvil’s extensive suite of analytic plugins support Order Flow, Middleware, Market Data and bespoke applications.



  • Capture every transaction, across all asset classes
  • UTC synchronised timestamps for meeting regulatory demands
  • Improved response times for client queries
  • Provide per client reports to business and account teams
  • Forensic evidence to solve problems and reduce MTTR

Precision Trade Transaction Capture

Speed, Latency, Time
Tabb Group

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Precision Trade Transaction Capture

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How Quickly does a Trading Algorithm react to market data

Being able to accurate measure the decision time of an Algo is key to optimizing it’s performance. See how Corvil provides real-time visibility into Algo decision latency.

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What happened after the order was submitted?

Corvil tracks the entire lifecycle of every client order, allowing you to quickly answer questions such as, “How many partial fills were there for order XYZ?”

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DMA Gateway: Latency Correlation

If you’d like to understand how quickly your trading gateway is processing clients orders, Corvil provides the answers, by tracking the latency of every message, in both directions.

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How to accurately record data with traceability to UTC

MiFID II demands order records be stored for a minimum of 5 years, and RTS-25 stipulates accurate time-stamps are recorded with traceability to UTC. How do you do that?

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What happens after I send my orders to the venue?

It’s important to understand venue performance, to help resolve client enquiries fast but also to ensure the infrastructure is scaled appropriately.

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Trace a client order, hop by hop through the infrastructure.

Corvil’s Multi-hop Analysis automatically tracks the path an order takes, revealing the latency across each hop.

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Corvil gave us the ability to capture network packets and replay them back to generate the network traffic as it shows up on the wire. It enabled a real world testing rather than a simulated one.

Greenwich Associates Research

Customer Retention in the Age of Electronic Trading    Free Download

Trade Performance Analytics

Highly Granular

Recorded with UTC synchronized, nanosecond time-stamps, Corvil provides a highly granular and actionable audit trail of all activity, accurately time sequenced to understand cause and effect.

Customizable Dashboards

See infrastructure latency in true real-time with flexible and intuitive dashboards. Explore and interact with the data. Quickly drill into events to investigate root cause, or select longer time periods to spot trends, performance patterns & anomalies.

Complex Latency Correlations

Corvil’s correlation engine reports the per-message latency across each infrastructure hop. It takes care of multiple protocols and messaging changes that occur across devices such as Gateways and SORs.

Infrastructure Scaling

Using Microburst rather than average measurements, Corvil provides a detailed understanding of transient and dynamic loads, enabling infrastructure components to be correctly scaled to meet performance requirements.

Multi-Hop Transaction Tracking

Corvil’s multi-hop analysis tracks transactions across network and application hops, to execution venues and back again. It provides an intuitive and graphical representation of the latency over the entire journey.

Real-Time Alerting

Analysing transactions in real-time reveals performance anomalies as they happen. When latency spikes occur, Corvil immediately notifies operations teams and provides the crucial data to understand and resolve the event.