Nasdaq OMX is to add streaming analytics to its TradeGuard risk management suite as part of a deal with data specialist Corvil.
The new technology will enable TradeGuard’s RiskWrapper tool to monitor trades across the Nasdaq network and analyse them to protect against unwanted trading activity.
Working with Corvil will enable Nasdaq to integrate its streaming analytics platform into RiskWrapper, enabling the vast quantity of trading data within the network to be fully utilised by TradeGuard’s pre- and at-trade risk checks.
It can monitor connections to the Nasdaq network at the entry/exit point, giving a more complete record of trading activity than was previously available. As data is captured directly from connections, latency is also reduced, enabling risk management systems to gain a more up to date and comprehensive view of the market.
Donal Byrne, CEO of Corvil, said: “Integrating risk data based on network data with existing sources of risk analytics is emerging as a best practice, and the integration between Corvil and TradeGuard will provide customers with a highly accurate view of trading across venue sessions and protocols.”
Stacie Swanstrom, senior vice president and head of access services at Nasdaq OMX, added: “This is very much the next generation of risk monitoring. It’s also vendor agnostic meaning it can connect to a client’s in-house risk management solution for additional peace of mind.”