Corvil, innovator of electronic trading and market data latency management systems, today announced that Morgan Stanley has selected Corvil's Latency Management System for inter-party latency monitoring and optimization of their Next Generation Trading Infrastructure. Corvil, with operations in New York, London and Dublin, serves a global client base of exchanges; alternative trading venues; investment banks, market makers and market service providers.
Morgan Stanley will use CorvilNet to monitor, analyze and optimize their market data plants in New York and London, and CorvilClear for inter-party latency monitoring to their execution venues. In particular CorvilClear will allow Morgan Stanley to quickly see where and why latency in the trading loop is occurring, and how to minimize it.
Morgan Stanley evaluated several latency management solutions for their next generation trading infrastructure and in choosing Corvil highlighted the unique capabilities of CorvilClear, the Inter-Party Latency management solution for traders, exchanges, and service providers. In using CorvilClear, Morgan Stanley was able to measure in real-time the true end-to-end latency and loss for market data and order execution traffic from their data center all the way through to the execution venue matching engine. Complete latency transparency between all parties was achieved and latency service level violations were quickly identified and fixed.
"Precise monitoring of latency both within our trading plant and to the exchanges is critical to optimal performance of our trading strategies. With CorvilClear, we intend to collaborate closely with all of our exchange and MTF partners to provide real-time latency transparency to our trading businesses and clients. Together with Corvil's powerful low-latency infrastructure analytics, we are confident that our new trading plant can meet the stringent performance levels demanded by our electronic trading businesses," said Kevin Twitchen, Executive Director Morgan Stanley.
"Latency compliance management and latency transparency within electronic trading infrastructure have become hot topics within high frequency trading. Unfortunately, demonstrating compliance to latency service level agreements and/or regulations is often made more difficult by not having the right technologies and tools in place. With Morgan Stanley, we were delighted to have the opportunity to collaborate with their team to explore the set of technologies and tools needed by them to address these challenges. We are very pleased that our CorvilNet and CorvilClear solutions were selected as the platforms of choice for intra and inter-party latency management of their next generation low-latency trading infrastructure." said Corvil CEO, Donal Byrne.
CorvilClear is the first inter-party latency management solution for electronic trading and market data applications providing policy driven peer-to-peer exchange and monitoring of microsecond latency and loss performance, real-time latency compliance reporting and automated event capture with common root-cause analysis tools for collaborative problem-solving.