Tradition Selects Corvil for Operational Performance Monitoring Across Its Trading Platforms

Tradition, one of the largest inter dealer brokers has selected Corvil for real-time trading visibility and operational performance monitoring of their Trad-X and ParFX platforms.

Through Corvil’s solutions, which include the Trade Lens product, Tradition will measure and assess the visibility of key metrics for their Trad-X and ParFX platforms, these include; latency, fill-rate, order/cancel ratios etc. In addition, multi-hop analysis of latency across their trading infrastructure enables Tradition to proactively manage any threshold violations.

Yann L’Huillier, Group CIO of Tradition spoke about the reasons behind Tradition’s selection of Corvil, and he commented: “There is a growing requirement to deliver transparency and equality for all participants. Our trading platforms offer our customers the very highest performance and efficiency of 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 for all users. With Corvil we have selected the industry leader in performance monitoring to ensure that we continue to meet these demands.”

The Trade Lens solution offers a complete reporting tool for users.Through its dashboard, the Session Table, users will be able to view interactive queries and summaries of session trading activity and performance. This includes summaries of latency, fill-rate, total value offered/filled, ratios of orders/cancels and message counts. Users can define the summary categories of interest including clients, venues, gateways or applications and then pivot, filter and save the session view to provide business level reporting of the trading activity.

“Tradition is at the forefront of technological development to meet the demand in the market to minimize disruptiveness and provide fairer trading environments. We are delighted that they are using Corvil's OPM Platform to ensure the continued success of their ParFX platform and the highest standards of transparency for their clients,” said Corvil CEO, Donal Byrne in the official press briefing.

With new trading strategies coming to light as technology develops, platform providers have been focusing their efforts on particular client segments. ParFX Ams looks to service traders who are open and transparent. Daniel Marcus, Global Head of Strategy and Business Development at Tradition, commented about the ethos behind ParFX and in a statement to the media he said: “The support ParFX has received from some of the biggest spot FX market players in the world, shows the appetite for a platform where all participants can engage on an equal footing. We believe that this, coupled with lower costs and greater transparency, positions ParFX as the premier option for those parties committed to providing clients with superior Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, transparency and execution.”

Tradition's use of Corvil’s products highlights its commitment in ensuring it has the correct tools to monitor and publish its trading metrics.