Trading technology involves highly automated decision making, complex inter-connectedness and very high data rates. CorvilNet has traditionally been deployed to help companies manage performance and improve reliability in the trading infrastructure. Now, trading firms and exchanges have started looking at leveraging Corvil technology as an independent and parallel monitoring system to validate that trading behavior is within expected tolerances. Where trading behavior becomes anomalous or unexpected, limits breached, or any of a wide variety of metrics triggered, emergency processes can be alerted. This will happen without relying on the self-reporting of problems from the same erroneously behaving decision making components.
The Corvil solution for Technology Risk Management can augment existing measures already in place in trading organizations with no loss of speed; providing a more complete system overview and potential to reconcile behavior across complex inter-connected systems. The more layers of protection an organization implements, the lower the risk of errors or mistakes leading to material or reputation losses. Crucially it is well recognized that the greater level of independence between the various layers of protection the greater total protection provided.
“Trade technology and operational risk must be managed to avoid financial and reputational damage,” said Corvil CEO, Donal Byrne. “Our customers need a complete overview and must understand what is happening throughout their trading infrastructure. Corvil now offer comprehensive trade monitoring, business level visibility tools and a consulting service to work hand in hand with each customer. This delivers the complete and comprehensive overview required in today’s trading environment.”