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Risk Management

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Corvil Launches Streaming Analytics Platform to Mitigate IT Risk in Electronic Trading

To detect risks in electronic trading, Corvil is moving beyond latency management to help banks and exchanges run real-time analytics on petabytes of data that can be migrated to big-data systems.

With concerns about IT risks posing a threat to modern electronic trading infrastructure, Corvil has announced a new streaming analytics platform to provide real-time operational intelligence that allows for big-data integration.

Corvil is known for providing latency management and reporting to 90% of the top banks, stock exchanges, and service providers in the electronic trading business. About two years ago it changed the direction of the company to develop its first platform for streaming analytics that can tackle massive volumes of data moving at high speeds.

According to CEO Donal Byrne, what led Corvil to create this product was working with large companies over the past 18 months. After a series of IT failures and increased scrutiny from business and regulatory bodies, Corvil saw demand for a platform that taps into the data flowing through the network and other sources of IT data and transforms it into operational intelligence.

“What seems to be top of mind today is the probability of a malicious attack on financial markets,” Byrne told us in an interview. Since Corvil is tapped into the data flying through these networks, "this has driven clients to ask us: Can you build a platform that not only sees what’s going on, but discovers what is going on and provides it in a data format that we can digest?”

With petabytes of data being transmitted through networks at "break-neck speeds," this is something that traditional big-data technologies can’t handle, Byrne claims.

The new product, known as the Giga release, introduces a complete set of high-performance streaming analytics capabilities. “It is about providing the data and intelligence that delivers a 10X improvement in the speed of operations,” said Byrne in today’s release announcing the new product.

Auto data discovery
Among its key features is auto data discovery, which is the ability to automatically discover all data sessions on the network. “What customers worry about is the set of things they don’t know about,” says Byrne. What Corvil added “was the ability to discover every trading session, every market data tick streaming through the network. The reason is, if it’s not happening on the network, it isn't happening. The network ends up being the one place you can go to see what’s going on.”

Nearly every monitoring system in today’s trading infrastructure is opt-in -- they monitor things that are known. Many key failings in electronic trading in recent years were “as a result of machines and machine processes that they didn't expect to be active.” When Corvil is plugged in, it will see sessions that are active, and it will see sessions that are inactive, according to Byrne.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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