Corvil, a supplier of electronic trading and market data latency management systems, is to offer its CorvilClear inter-party latency management system to clients of market data and connectivity provider Fixnetix.
CorvilClear, which was launched in April this year, uses peer-to-peer latency sharing technology to swap performance data and analytics between trading partners, i.e. market participants, liquidity destinations and market service providers. Peering parties mutually agree to the level of transparency, and enforce the latency sharing policy securely without exposing any privileged information.
According to Corvil, a trading organisation with a trusted set of venue and provider relationships can use CorvilClear to achieve latency management and transparency across the full trading infrastructure.
“Fixnetix uses Corvil probes to ensure our end-to-end latency metrics remain the lowest possible in the industry,” said Fixnetix CEO Hugh Hughes, in a statement. “CorvilClear is the preferred solution for inter-party latency management with many of our clients and we look forward to providing them with Corvil’s advanced latency measurements and analytics to multiple markets for further optimisation of their trading strategies.”
“This new deal signifies a major expansion by Fixnetix of CorvilNet within their internal infrastructure and a strong commitment to latency transparency via the adoption of CorvilClear,” added Corvil CEO Donal Byrne. “The deployment of CorvilClear to multiple markets enables Fixnetix to competitively differentiate their low-latency connectivity and market data distribution services to electronic trading clients.”
CorvilClear is available immediately via Fixnetix for fourteen markets globally, with plans to increase this to 35 markets in 2010. Fixnetix already uses Corvil’s CorvilNet network latency management tool, which it implemented in October 2008.