Deutsche Börse Systems, the IT subsidiary of Deutsche Börse, has signed up to use a latency management and reporting service from Corvil, a supplier of electronic trading latency monitoring tools.
The German exchange will measure roundtrip latency on its Xetra cash market and Eurex derivatives platform via CorvilNet 5.2. The service will provide microsecond distribution measurements for both order and market data on Deutsche Börse’s new data interfaces, Enhanced Broadcast Solution and Enhanced Transaction Solution, which are both designed to offer high-speed access for core trading activities.
The contents of the latency information provided include minimum, average and maximum latency in microseconds, as well as 90% and 99.5% latency percentiles. Currently the data is published for users of the most latency-sensitive proximity services, with other Xetra and Eurex access points expected to be available soon.
According to Corvil, its latency monitoring and reporting service provides normalised latency ranking tables for individual market participant’s trading sessions relative to all other peer trading sessions in the same reporting period.
“This is the first time we have seen a market centre offer normalised latency ranking information for a high-frequency market. Relative latency information is what is important for traders. It does not matter how fast someone is trading, it only matters how fast they are trading relative to all others in the market at the same time,” said Donal Byrne, CEO of Corvil.
Market participants will be able to access the new service via the Xetra and Eurex websites.