Sunday, February 22, 2009

BT and Corvil Offer Low Latency to Global Capital Markets

BT has joined forces with Corvil, a specialist in electronic trading latency management systems, to provide financial institutions with a network latency management solution.

As a part of the agreement, BT will leverage CorvilNet, a leading latency management system developed by Corvil that monitors, analyzes and optimizes electronic trading infrastructures against ultra-low latency objectives encompassing market data feeds and order execution traffic. In addition to CorvilNet, BT will provide a dedicated team of business consultants and IT specialists from its 10,000 strong Global Professional Services division that will analyze the reports, identify the hotspots and make recommendations to optimize a customer's infrastructure.

In addition to expanding its efforts in network latency management, BT also remains committed to its existing low latency connectivity portfolio, which includes Radianz Ultra Access and Radianz Proximity Solution. Radianz Ultra Access enables sub-millisecond connectivity between brokers and execution and market data venues in New York and Chicago and soon London. Radianz Proximity Solution locates trading engines near execution venues to reduce market data and trading latency.

  • In July 2008, Corvil, a start-up based in Dublin, Ireland, secured $12 million in a new round of funding for its work in latency management systems aimed at the financial community. Corvil will use the new financing to expand its capabilities to meet the demands of global investment banks, hedge funds, ECNs, exchanges, and network service providers seeking the lowest possible latency for high performance trading. In the new funding round, Vesbridge Partners joined existing investors ACT Ventures and APAX Partners.

  • In October 2007 Corvil announced that the London Stock Exchange had deployed the CorvilNet solution to help achieve low-latency in LSE's access network and record performance levels for its new trading system, called TradElect. In November, 2007 Corvil announced that Deutsche Borse Systems deployed CorvilNet to ensure the success of Deutsche Borse Group's Eurex market data service to significantly enhance support of algorithmic trading. In June, 2008 Corvil announced that Credit Suisse has selected CorvilNet for a global network deployment. Corvil teamed with BT to deliver a solution for latency management and optimization of the Credit Suisse network.

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