Connectivity provider Fixnetix is partnering with latency management systems provider Corvil to offer CorvilClear to its global client base of financial institutions, both companies said today.
"Our business is focused on providing market participants with a competitive edge in their electronic trading and market data infrastructure, by providing the most innovative technologies and services that deliver ultra-low latency," said Fixnetix CEO Hugh Hughes, noting that his firm uses Corvil “to ensure our end-to-end latency metrics remain the lowest possible in the industry.”
Launched in April of this year, CorvilClear utilizes peer-to-peer latency sharing technology to exchange precise performance data and analytics among trading partners - market participants, liquidity destinations and market service providers - in a scalable manner. Peering parties mutually agree to the level of transparency, and enforce the latency sharing policy securely without exposing any privileged information.
Fixnetix, which provides connectivity to financial institutions such as investment banks and hedge funds, has been a client since October 2008 when it purchased CorvilNet for latency management of their network.
"This new deal signifies a major expansion by Fixnetix of CorvilNet within their internal infrastructure and a strong commitment to latency transparency via the adoption of CorvilClear," said Corvil CEO, Donal Byrne.
"The deployment of CorvilClear to multiple markets enables Fixnetix to competitively differentiate their low-latency connectivity and market data distribution services to electronic trading clients,” added Byrne. CorvilClear is available immediately via Fixnetix for fourteen markets globally, with plans to augment up to 35 markets in 2010.
Corvil,was founded in 2000 and operates from New York, London and Dublin. The company's global client base includes global banks, high frequency traders, exchanges, and service providers to financial markets.
This article can also be found at SecuritiesIndustry.com.
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