Pico introduces real-time execution analytics for Electronic Trading

By Edlyn Cardoza

Pico, a leading provider of mission-critical technology, software, data and analytic services for the financial markets community, continues to enhance the capabilities of its Corvil Analytics product suite with the launch of Corvil Electronic Trading Data Warehouse. The new solution for monitoring strategy execution across the trading infrastructure helps business and operations teams make faster, more effective decisions.

In a competitive trading landscape, where stakeholders need to attract and retain clients, capture more flow and maximize fill rates, the ability to obtain and rapidly action insights into execution quality and efficiency are vital to gaining a trading performance advantage. Corvil Electronic Trading Data Warehouse complements Pico’s commitment to making AI-driven technology easy for the financial markets community while advancing levels of trading performance, agility and outcomes.

With data streamed from Corvil’s network instrumentation, Corvil Electronic Trading Data Warehouse provides visibility into transaction execution quality to correlate client trading behaviour with execution path and counterparty performance. The platform delivers real-time visibility at a granular level from individual trades to aggregate transaction outcomes, providing clients with a lens into technology stack performance and its impact on trading.

Additional benefits from Corvil Electronic Trading Data Warehouse include:

• Aggregate transaction flow monitoring allows isolation for specific clients, strategies, order types and counterparties to reveal how execution path, component latency and market destinations impact trading success.
• Full trade traceability from issuer to market, across every hop, translation and parent/child order relationship to isolate degraded decision and transmission latencies.
• Transaction completeness monitoring and reconciliation across inter and intra-plant to detect lost messages and discrepancies in real-time.
• Live order state monitoring tracks open positions, closes open orders, and reconciles client/market records after a component failure.
• Machine learning and analytic alerts to detect problems in real-time to mitigate the business impact.
• Client-quality reporting to provide brand-aligned execution transparency to clients and internal stakeholders.

“As the de facto standard for real-time performance analytics for capital markets, Corvil Analytics plays a crucial role in providing unique visibility and intelligence to assure the speed, transparency, and compliance of trading infrastructure. As trading systems become more complex and faster, we continue to invest in innovation that meets performance demands and advances our analytics capabilities,” said Roland Hamann, Chief Technology Officer & Head of APAC at Pico. “Corvil’s high throughput, lossless, granularly time-stamped trading data capture provides an incredibly rich data source that can be used for broader analytics and use cases including trade analytics. Corvil Electronic Trading Data Warehouse elevates high-fidelity data to new business stakeholders to deliver precision insights, ultimately helping them realize further value from their Corvil investments.”

Corvil Electronic Trading Data Warehouse is available now as an extendable turn-key solution that utilizes AI-assisted configuration to achieve value in days, not months.

The successful launch of Electronic Trading Data Warehouse follows the release of Corvil’s new flagship 100Gbps capture and analytics appliance in October 2021, which delivers sustained 100Gbps real-time processing to handle the most demanding market data and enterprise network environments. Pico was recently granted a US patent on its turbo capture storage acceleration technology, as used in the Corvil 9000 product. 

Pico’s vision is to become a leading provider of technology, software, data, and analytics solutions to the financial markets. With the continued electronification of markets, the need for global borderless trading and data access and high levels of operational resilience are among the key trends shaping capital markets today. 

Recently, IBS Intelligence reported that Pico announced that it had acquired Redline Trading Solutions, a high-performance trading and market data software solutions provider.