Corvil, a provider of electronic data and market data latency management systems, has launched version 5.1 of its CorvilNet latency management solution and announced that agency broker and trading technology provider Neonet has signed up to use the system.
CorvilNet monitors, analyses and optimises electronic trading and market data applications to achieve low-latency objectives, both within a firm’s infrastructure and externally through CorvilClear, a policy-based, peer-to-peer sharing of latency and loss performance data between remote sites and interconnected parties.
Key enhancements in the new version of CorvilNet include latency measurement of messages, such as FIX, and a new multicast gap detection feature, which monitors market data feed quality and pinpoints inconsistencies. The firm has also introduced a new transmission control protocol (TCP) analysis capability for trading applications, which measures roundtrip times not only during connection set-up but also continuously for every segment sent and acknowledged.
In addition, the new version of CorvilNet features live trader dashboards that facilitate centralised client and business reporting of real time performance statistics for market data and electronic trading. This gives traders an overall operational view across multiple Corvil appliances. The new release has also migrated CorvilNet to 64-bit architecture from 32-bit, which Corvil said improves performance and scalability.
Neonet plans to deploy CorvilNet at multiple locations, including Stockholm, London, New Jersey and Frankfurt.
“Maintaining a low-latency trading infrastructure is essential for driving our electronic execution business,” said Simon Nathanson, CEO and president of Neonet, in a statement. “The velocity of Neonet’s direct market access, algorithmic, smart order routing and real-time market data services must continuously operate at peak, ultra low-latency performance levels, and will now have a strong catalyst in CorvilNet 5.1. It will also enable us to manage our IT infrastructure more efficiently.”