Electronic TradingMonitoring Client Execution

Real-Time Barometer of Your Trading Business

Understand Complex Trading Behavior As It Happens

Performance deterioration has a direct impact on clients, leading to lower fill rates, lost revenues and damaged reputation.

Corvil tracks and analyzes every client execution message, pinpointing performance issues as they happen. Drill-down forensics provide answers fast, optimizing client execution and minimizing risk to the business.

 

Outcomes

  • Automatic visibility and analysis of all client activity
  • Intuitive dashboards to see trading activity in real-time and retrospectively
  • Timestamped, precision visibility of full order execution life-cycle
  • Meet regulatory demands with assured multi-asset visibility
  • Respond quickly to client execution queries
  • Per client reports for business and account teams
  • Reduce mean-time to repair (MTTR) infrastructure problems

Client Flow Visibility

Answer questions such as how much has Client X traded since market open? Or, how does their current activity compare to 1 hour ago.

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Monitoring Foreign Exchange

Respond quickly and efficiently to client queries such as “Why am I getting stale quotes?” By seeing the full sequence of events Corvil helps you to diagnose and resolve issues fast.

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Multi-hop Transaction Analysis

When you know that an order has been delayed, but you’re not sure where or why, Corvil’s Multi-hop analysis retrospectively traces the order through the infrastructure for you, revealing the answer.

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Order Lifecycle Tracking

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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Client Flow Visibility

By automatically discovering and tracking all trading activity, Corvil allows you to quickly answer questions like: “Which clients are using the most infrastructure resource?”

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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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96% of surveyed organizations agree: “Corvil has significantly improved the speed and accuracy with which we can respond to client enquiries."

Search for Any Client Order

Corvil’s Global Data Search allows you to search for any client transaction across your entire infrastructure.

Search by key field like ClOrdID, Comp/Sub ID or symbol.

Corvil searches back in time returning results quickly, listing precisely where and when the transaction was seen. Simply click one of the search results for drilldown options to intuitively continue your investigation.

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See Client Experience In Real Time

Corvil tracks client execution experience in real-time by automatically correlating client request messages such as new orders, quotes, replaces and cancels with their corresponding execution reports.

Underpinned with highly granular and accurate timestamps, Corvil validates precisely what the client experiences from the trading service.

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See The Full Lifecycle Of A Client Order

Corvil automatically keeps state of every client order, tracking all related messages from the initial order through to completion, including open orders that are replaced.

Simply click on Corvil’s Order Tracking button to see the complete order lifecycle with full details of every message, accurately timestamped.

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Track Where A Client Order Went

When a client order experiences a high response time, it’s important to understand precisely where the latency was introduced, so that remedial action can be taken. With a single click, Corvil’s Multi-hop analysis, tracks a transaction through each hop of the infrastructure, including the associated response message in the reverse direction.

The results are displayed in a graphical sequence diagram, detailing the precise latency for each hop.

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Automatically Report New Client Order Flow

Trading environments are dynamic, with new trading clients on-boarded and exchange sessions provisioned on a regular basis.

Corvil automatically detects these new flows and starts reporting immediately, assuring total visibility coverage for all trading activity. Corvil data is indexed and searchable, providing fast, accurate responses to client and regulatory queries.

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Per Client Reporting

Quickly create a detailed report of trading activity and performance by selecting two things: The client and the time period of interest.

Corvil reporting is highly customizable allowing you to include the metrics you care about; from network layer stats such as retransmissions or zero window advertisements to order stats such as traded volume message counts and fill rates.

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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.