Corvil Delivers Real-Time Visibility Across the Ecosystem of Trading Applications, Venues and Participants
DUBLIN, IRELAND – December 1, 2016 - Corvil today announced that Wolverine Execution Services (WEX), a leading provider of value added technology and execution services, has selected Corvil to help WEX maneuver an increasingly complex and evolving trading environment that stems from the introduction of new technologies, regulations, and exchanges in today’s market. Corvil will complement the tools used by WEX to maintain its high standards for client execution, such as a 99% fill rate for marketable options orders, by providing a real-time picture of operations performance across its network of trading venues.
WEX delivers a highly optimized trading platform allowing multiple asset classes to be executed in parallel on disparate execution venues. The growing number of venues for each asset class, has created more complexity and uncertainty in order fulfillment. Corvil’s technology will help WEX mitigate these increased pressures on best execution by providing greater transparency into how client orders are flowing across their entire trading environment.
“WEX has always prioritized execution performance and quality, currently offering our customers a fill rate in the 99 percentile range for marketable options orders,” said Troy Googins, WEX Head of Product and Business Development. “As the market becomes increasingly fragmented it has become even more important for us to be aware of all the factors that could affect execution quality across every exchange. We can utilize Corvil to aid in navigating these challenges and to ensure our system is constantly operating at peak performance.”
With Corvil, WEX can obtain a comprehensive picture of business and infrastructure performance in real-time, which can help to identify and resolve operational issues as they arise. Corvil also offers the ability to continuously monitor and analyze trading activity and system efficiency, and alert against unusual activity and/or traffic volumes that may affect execution outcome.
“We believe that companies with the best understanding of the relationship between speed variability and price certainty across multiple venues will have a significant competitive advantage in managing order performance,” said Donal Byrne, CEO of Corvil. “We are excited to work together with WEX and ensure they retain their already outstanding track record in execution services as market technologies continue to evolve.”
(WEX) is an independent broker-dealer specializing in the execution of equities, options and futures for institutional investors. WEX offers clients multiple venues for execution including a proprietary electronic trading platform, algorithms, direct floor access, and an agency brokerage desk. Leveraging expertise in trading technology, and risk management, WEX provides clients with anonymity, superior execution and order management in all asset classes, delivering exceptional solutions for both technical and institutional trading styles. For more information visit www.tradewex.com.
WEX fill rate statistics are prepared on a best efforts basis and the data has not been audited. Any decision about whether to trade through WEX or directing orders to the Firm should not be based solely on the information presented in this release, but on a broader evaluation of the full range of services and products we offer. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, each customer must review a copy of the Characteristics and Risks of Standardized Options (ODD). This document is available on WEX’s website, or on OCC’s (theocc.com) website. Please contact your WEX representative for a paper copy disclosure.
Corvil is the industry leader for deriving IT, Security, and Business intelligence from network data. As companies adopt faster and smarter machine technology, it becomes critical to tap into richer and more granular machine data sources to safeguard the transparency, performance and security of critical infrastructure and business applications. The Corvil streaming analytics platform captures, decodes, and learns from network data on the fly, transforming it into machine-time intelligence for network, IT, security and business teams to operate efficiently and securely in this new machine world. Corvil uses an open architecture to integrate the power of its network data analytics with the overall IT ecosystem providing increased automation and greater operational and business value outcomes for its users.
The Corvil solution is trusted by leading financial institutions to safeguard their businesses across the globe involving 354 trillion messages with a daily transaction value in excess of $1 trillion.
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