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Real-Time Monitoring Solution Gives More Control For HFT

Electronic trading businesses may gain more control on trading systems with Corvil's real-time operation risk and compliance monitoring solution.

A new release of Corvil's compliance monitoring solution for automated trading promises to identify the risks of trading anomolies, flaws and threats, giving firms more control over high-speed trading. CorvilNet attaches to the client's current e-trading infrastructure to capture trading activity data for off-line analysis and reporting, according to a release.

The solution uses wire data to monitor and capture information being transmitted within and out of the firm, including orders placed and aggregated fills received, as well as unexpected or unauthorized transactions.

The release also includes live updating screens that show the whole trading system in real-time. Users have the ability to configure alerts for trading anomalies, technology glitches and operational errors.

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Corvil continuously analyses wire data, detects trading events and also monitors system health in real time,” comments James Doherty, managing director of equities at Credit Suisse, in a statement. “Supervisors are made aware of anomalies, threats and faults within seconds. Corvil alerts can be fed directly to automated processes, which can enforce position limits, message-rate caps, kill switches or load balancing.”

Other aspects of the solution include the ability to store data captured from trading related messages like wiretaps, aggregation switches or software logs for historical analysis. Data can also be exported into external systems for different interfaces common in the industry. Auto-discovery and configurable reporting windows allow for easy integration.

Currently used by over 20 trading institutions, Corvil collaborated with exchanges and broker dealers for the development of the solution.

Corvil CEO Donald Bryan adds, “With this release, we wish to empower our customers with a powerful set of new capabilities to mitigate technology risk while proving a platform for the future that is equipped to meet the needs of upcoming regulations.”

Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio

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