FRANKFURT and LONDON, December 21 /PRNewswire/ -- Corvil, a leading provider of electronic trading and market data latency management systems, announced that Deutsche Borse Systems, the IT subsidiary of Deutsche Borse AG, has successfully deployed a precision latency monitoring and reporting service for Xetra and Eurex market participants that provides for the first time a full range of latency statistics based on microsecond distribution measurements for both order and market data on Deutsche Borse's new data interfaces Enhanced Broadcast Solution and Enhanced Transaction Solution. This latency monitoring and reporting service achieves another industry first by providing normalized latency ranking tables for a specific market participant's trading session relative to all other peer trading sessions in the same reporting period. The latency distribution measurements underpinning Deutsche Borse's cash market Xetra and derivatives market Eurex service are based on Corvil's Latency Management System - CorvilNet 5.2.
Deutsche Borse Systems is committed to providing our trading members with the highest levels of latency transparency to optimize their trading experience on our platforms, said Gerhard Lessmann, Member of the Executive Board, Deutsche Borse Systems AG. By leveraging the unique latency measurement and analytics capability of the CorvilNet platform, we have successfully achieved an industry first in low latency monitoring and reporting for high frequency trading.
The new service provides latency statistics for Enhanced Broadcast Solution market data messages for both streams of the live-live-setup over the entire business day. Historical Information for up to five business days is provided. The contents of the latency information provided include: minimum, average and maximum latency in microseconds, as well as 90 percent and 99.5 percent latency percentiles. Currently the data is published for users of the most latency sensitive Proximity Services. Extension to all other Xetra and Eurex Access Points is in preparation.
For Enhanced Transaction Solution trading sessions, both Xetra and Eurex use CorvilNet to monitor round-trip response times for all member's trading sessions to the trading gateways. Statistic data is published on all relevant sessions (showing an ample amount of transactions) providing the average, median, 99th percentile, 99.9th percentile, fastest, slowest and overall normalized ranking. The overall ranking field provides the relative latency ranking for the given trading session amongst peer trading sessions in the market.
The new latency monitoring and reporting service is accessible to all members via the Xetra member section on the Deutsche Borse web site and in the member section on the Eurex website.
This is the first time we have seen a market center offer normalized latency ranking information for a high frequency market. Relative latency information is what is important for traders. It does not matter how fast someone is trading, it only matters how fast they are trading relative to all others in the market at the same time, said Donal Byrne, CEO of Corvil. This project represents a significant advancement in the state of the art for latency monitoring and transparency and I am delighted to see Deutsche Borse Systems leveraging CorvilNet to achieve this innovative breakthrough.
About Corvil
Corvil, leader in electronic trading and market data latency management, was founded in 2000 and operates from New York, London and Dublin. The company's global client base spans exchanges; high frequency traders; investment banks and market service providers. Recognized as a technology innovator in latency management, Corvil's products offer a complete solution for enhancing electronic trading, execution and market data delivery including SLA (service level agreement) compliance, performance monitoring, event troubleshooting and infrastructure optimization. For more information on Corvil, please visit http://www.corvil.com.
SOURCE: Corvil
CONTACT: Contact: Corvil, Collette Bird, +353-1-859-1000, E-mail:collette.bird@corvil.com
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