FIX EMEA 2017: Recap and Takeaways

MiFID II and security dominated this year’s FIX EMEA event.

FIX EMEA 2017: Recap and TakeawaysBy Minn Chowdhury    16 March 2017      Events

The hot topic this year at FIX EMEA was MiFID II, with most of the day’s sessions and exhibiting vendors revolving around what it is, what’s to come, and what we can do to prepare. Security, though, came in a close second after MiFID II, and our very own CEO Donal Byrne spoke about this.

Attendees had the opportunity to listen to Donal speaking as part of a panel on Security of the Financial Markets. Many security issues were covered, including DDoS attacks, which is the number 1 focus since this is what generally leads to bad publicity, share price plummeting and the CEO having to publicly apologise etc.

Donal Byrne talked about Corvil’s high penetration in the monitoring of network data for Trading platforms in Financial Organisations, and how Corvil was being strongly encouraged by Corvil customers to introduce Security applications to the Trading platforms. Corvil’s advantage is that wire-level inspection of network traffic is already in place for Corvil customers, without the performance overhead of scanning or running agents on application platforms.

From our conversations with conference attendees it became apparent that there is still a lot of uncertainty around MiFID II, in particular what firms need to have in place as the deadline approaches. We had some excellent conversations with attendees on how Corvil can help with their MiFID II obligations, and helping to understand the requirements imposed by MiFID II. Another topic that came up frequently at our stand was Security, with a lot of these questions prompted by Donal Byrne's panel session.

We explained to attendees that Corvil is already used significantly for compliance, and with the MiFID II deadline around the corner, our proven solution is perfect for order record keeping. Because Corvil sees every packet, every trade, every message on your network non-intrusively, it makes it the perfect source of data. On the Security end, our Security Analytics solution analyses network data in machine time and provides threat detection. Corvil also has partnered with the industry’s leading threat intelligence vendors to ensure our platform can detect and alert on current network borne cyber threats.

Overall, it was an excellent event that allowed us to speak to a broad range of people within electronic trading, while learning from their experiences as well. Whether they were IT staff, compliance teams, or operations teams, to have them all under one roof was invaluable and gave excellent insight.

FIX EMEA 2017: Recap and Takeaways

Minn Chowdhury, Sales Engineer, London, Corvil
Corvil safeguards business in a machine world. We see a future where all businesses trust digital machines to algorithmically conduct transactions on their behalf. For some businesses, this future is now.

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