Corvil Launches MiFID II-Compliant Latency Monitoring Solution

Corvil, a provider of latency management systems for global financial markets, has announced the launch of its MiFID II solution, a new version of its network monitoring platform, featuring real-time monitoring, surveillance, and precision clock-synchronised record-keeping. The new solution is designed to assist European financial firms with complying to MiFID ll regulations.

Corvil's solution leverages its ability to provide accurate, time-precision transparency to the trade Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term lifecycle, in real-time. It includes the introduction of a lightweight agent which collects time-stamped machine events, integrating with the existing passive, wire-based collection mechanisms of Corvil’s platform.

The Technology

The new mechanisms, combined with Corvil's high-fidelity, nanosecond time-stamping, time synchronization monitoring, and open data streaming, allow customers to produce a time-sequenced record of events without expensive and time-consuming application and database re-architecture.

Corvil utilises a dedicated independent system to gather the precision data needed for MiFID II reporting and forensics. The Corvil platform is deployed non-intrusively as an overlay on existing infrastructure, seeing all trading activity without requiring configuration for systems or flows to opt in while removing the need for trading venues and participants to overhaul internal IT systems.

The wire-based data collection and timestamp measurements drastically reduce the size of the PTP distribution infrastructure required as well as the need for extensive application and database development efforts to support implementation and ongoing maintenance of a home-grown solution.

The new solution greatly reduce the time, cost, and complexity of meeting Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term requirements.

Commenting on its new launch, Donal Byrne, Corvil’s CEO, said: "Accuracy and transparency in Financial Markets have been longstanding goals of the regulatory community and MiFID II requirements are some of the most stringent the European Union has introduced. Corvil provides a novel approach that can greatly reduce the time, cost, and complexity of meeting compliance requirements for today and into the future."

With today’s announcement, Corvil delivers a comprehensive solution for investment firms to get ahead of the problem in their preparation to meet the latest regulatory requirements.