Corvil, a provider of electronic trading and market data latency management systems, has introduced CorvilClear, a new cross-asset, industry wide solution that is reported to deliver precise visibility into latency performance among interconnected market participants, liquidity destinations and market service providers.
With this newfound transparency, CorvilClear users gain opportunities to assure order execution and market data performance while controlling associated costs of identifying and troubleshooting external latency issues, said Corvil.
According to the company, CorvilClear utilizes peer-to-peer latency sharing technology to exchange microsecond precision performance data among trading partners in a scalable manner. Peering parties mutually agree to the level of transparency, and enforce the latency sharing policy securely without exposing any proprietary information.
Corvil claims that CorvilClear will give market participants better visibility into the speed and execution performance of fragmented markets while, in turn, liquidity destinations would become better equipped to address latency bottlenecks outside its four walls and highlight advancements gained.
Both market participants and liquidity destinations are expected to seek improved performance levels from market data, networking and hosting providers while vendors of these services would leverage CorvilClear to make a stronger business case for their respective value proposition.
Donal Byrne, CEO of Corvil, said: CorvilClear breaks through the opaque barrier of today’s inter-party latency reality and shines a light on it for the benefit of all connected parties. We have witnessed broad industry appeal for CorvilClear’s premise; firms see it as a way to reduce risks, increase confidence and control costs associated with managing a low-latency trading infrastructure that is not totally under their control.