Nasdaq OMX is set to implement operation performance monitoring (OPM) across its US platforms.
The performance monitoring solution CorvilNet, provided by Dublin-based Corvil, will provide a new level of visibility, safeguards and protection for the exchange operators equity markets - the Nasdaq main market, Nasdaq OMX BX and Nasdaq OMX PSX.
The solution will also be rolled out on Nasdaq OMXPHLX, Nasdaq Options Market and Nasdaq OMX BX Options, which serve US options traders.
CorvilNet will enable the exchange group to simultaneously analyse activity at the network, application and trading layers. The information can be used to alert on anomalies in real time and improve systems performance.
The technology will also play a role in regulatory compliance by tracking all outbound data feeds to member firms and securities information processors.
Nasdaq has worked with Corvil since October 2011, when it deployed the firm's latency management system across its Nordic exchanges. Corvil has since developed its solution further to provide full OPM.
Brad Vopni, senior vice president of US equity market product management and strategy as NASDAQ OMX, said: "We're the first venue to implement this full solution, covering latency and OPM. This initiative will allow us to deal with our compliance obligations and provide a service to members, enabling them to track the full lifecycle of a trade."
Donal Byrne, CEO, Corvil, added: "[CorvilNet makes] it possible to build a new generation of independent visibility, detection and control systems that greatly reduce risk and improve orderly operation of electronic trading systems."