Corvil Transaction Correlation

Does this solution help to correlate individual client or trade desk transactions to infrastructure and venue latency? If yes, how?

Equities158c
EMEA Head of Electronic Trading App Management at a financial services firm with 10,001+ employees
This solution helps to correlate individual client or trade desk transactions to infrastructure and venue latency. It allows us to break down the latency performance at both the venue level and client level. So, we can cut the data different ways to look at it, either from an individual client perspective, trading across multiple venues, or we can target the analysis on a specific venue.
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Kaarthik Elangovan
User at a financial services firm with 10,001+ employees
The solution helps to correlate individual client or trade-desk transactions to infrastructure and venue latency. As long as the client message or the trader message has the relevant information, you decode it and you have that information. So we have statistics based on client. We have statistics based on exchange. With the new introduction of this Intelligence Hub, which we are still reviewing, you can break it down by any number of parameters, like symbol, or site, etc. That is something we are doing at the back end of Corvil. We have all that information. In fact, as I was mentioning, we were able to break down the information by client because we have a particular instance of our process that just handles client traffic. We get multiple clients sending into the same process and we can see, by visualization, that there's one client who seems to have better performance, another client who seems to have a little degraded performance. Why is that the case? We could drill down into it and we saw that it looked like the client who was doing better was trading on a different market which is a particular protocol, a FIX protocol, for example. The other client who's trading on a different market, could be on an OUCH protocol. And his trading behavior is different. All of these patterns of trading from different clients on different markets can be drilled down into. In this scenario, it helped us to look at the protocol implementation of our process and see if we could make improvements to our protocol. It actually did help us and we found that there was an issue with one of our protocol implementations. We had to go and fix it. When you break it down by client or by market you can see which client is performing better, which market is doing better. Then you can drill down into that and see the trading pattern of that client: Why he is doing well, why the other guy seems a little off.
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NetworkOa912
Network Operations at a financial services firm with 1,001-5,000 employees
We break down the latency to each of our clients. It provides the accurate timestamping on most of the sessions that we use for ordering, showing us the time that we send out an order to the time we get our execution report back. So, we can monitor that latency very closely.
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reviewer1020198
User with 10,001+ employees
Corvil helps to correlate individual client or trade desk transactions to infrastructure and venue latency. We are using it for tracking the client round trip times, as well as the venue round trip times. The time it takes when the order comes in from the client to the time that it takes when it goes out. Plus, we are tracking the times when an acknowledgement comes back from the exchange. So, these are the type of statistics that we are using at the moment.
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Srini Venkatesan
Director at a financial services firm with 10,001+ employees
It helps to correlate individual client or trade desk transactions to infrastructure and venue latency. That is what we primarily use it for. We make sure that the fill rates for a certain client are as expected, and the algorithmic trading as well. We look at the way orders get executed in different venues and which venue is giving us better fill rates. It's used for analysis and tweaking. We haven't gone to the extent of tweaking algorithms based on the Corvil analytics, but that will be in the pipeline.
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