New Visibility Tool Broadens CorvilNet

Dublin-based latency monitoring software provider Corvil will this week release version 8.0 of its CorvilNet latency management platform, which broadens the product’s potential use cases and includes new features to visualize and share business-level metrics, and a user interface to make complex deployments easier, as demand for latency management and related metrics and analytics grows among users beyond high-frequency traders.

The vendor is now testing the new release with several customers, and will make it generally available in September.

A key feature of the 8.0 release is Trade Lens, a component that enables business users to assemble a view of trading metrics—including fill rate, cancel-to-order ratios, latency profiles and trade volume—aggregated by user-defined groups, such as protocols, asset classes or exchanges. Trade Lens leverages the metrics already captured by CorvilNet around network and application performance, order execution and data quality, and presents them on a configurable screen for business users—rather than just network or data professionals—who increasingly need to see what goes on in a trading infrastructure, says Corvil chief executive Donal Byrne.

“Latency management… continues to be at the core of everything we do. But over the last couple of years, we’ve learned that clients need to get more out of a platform like CorvilNet,” Byrne says. “This year, we started to see people using our product outside of the trading vertical. For example, we’ve been asked to look at latency across clouds, latency for storage area networks and latency for risk management on massive computing grids. Ensuring the latency of those applications and infrastructures becomes critical.”

The vendor is also adding a new management reporting feature for users to create custom reports of performance metrics—including for compliance requirements or market surveillance—which can then be emailed directly to senior management, clients and counterparties.

The flexibility of Trade Lens and the reporting function can serve users across multiple roles within a firm, including data managers, operations support, client-side analytics teams and compliance groups, allowing CorvilNet to perform the same functions as multiple different monitoring applications that firms may have in place today, to support firms’ efforts to amortize the cost of building high-speed trading infrastructures by consolidating the number of applications and providers and use single systems across multiple groups, Byrne says. However, “as firms continue to move from dedicated to shared resources, the challenge is ensuring service levels across all groups. Corvil delivers the capability to manage and assure service levels to multiple business units off of a single platform,” he adds. “Consolidating on version 8.0 [of CorvilNet] reduces cost and complexity for clients.”

In addition, the latest release also includes a new Advanced Deployment Management feature to simplify complex implementations, including a GUI for setting up multi-stage correlations, as well as the ability for the system to self-configure itself to handle hundreds of trading protocols.