NEW YORK – May 31, 2023 – Pico, a leading global provider of mission-critical technology services, software, data and analytics for the financial markets community, today announced the availability of its Corvil Cloud Analytics solution tailored to maximize performance and provide service assurance visibility in crypto trading environments.
Pico's Corvil Analytics has been a trusted partner in the financial industry for over 20 years, offering unparalleled insights into technology and transaction performance in dynamic network settings. Now, with Corvil Cloud Analytics, we are extending our reach beyond monitoring traditional exchange activities in colocation environments to the crypto exchanges in public cloud environments. Corvil Cloud Analytics can empower crypto traders with high-quality, granular data capture and analytics capabilities, ensuring comprehensive visibility and control without compromising quality or precision.
“A considerable portion of the crypto trading markets, including most exchanges, market makers and institutional investors are hosted in public cloud infrastructure. They run highly optimized workloads where performance or reliability issues directly impact trading outcomes,” said Ken Jinks, Executive Director, Product Management at Pico. “Corvil Cloud Analytics provides the visibility and timestamping of every crypto trade and market data message, which enables all parties to achieve deterministic performance in this highly dynamic environment.”
A critical aspect of the Corvil Cloud Analytics solution for crypto markets is the ability to decrypt the market data and order flow data in real-time. This is particularly challenging because all venues use perfect forward secrecy for encryption. Corvil Cloud Analytics provides a solution for decryption in this environment to enable full visibility of every order and every market data message.
This level of granularity enables Corvil Cloud Analytics to provide the following capabilities for crypto trading:
Connection Drop Analysis: Users can identify the cause of all connection drops using the complete packet record from the connection alongside all handshake and protocol messages.
Order Tracking and Dispute Resolution: With full visibility into the orders, both sent and received, along with the corresponding responses, it eliminates ambiguity and facilitates quick resolution of individual orders.
Latency Measurements: Orders are automatically correlated with responses to measure latency and track the entire lifecycle of the order.
Algo Performance Monitoring: The performance of any workload can be measured; for example, the trading algo decision latency can be measured from market data tick to order execution.
Workload Instrumentation: Corvil AppAgent allows for internal workload instrumentation, facilitating latency measurement for specific stages within a workload, such as market data feed handling, algorithm trading decisions, and order execution.
Microburst Visibility: Leveraging every packet, Corvil Cloud Analytics provides real-time visibility into microbursts causing congestion in public cloud infrastructure and private leased lines between crypto venue locations, aiding the accurate sizing of expensive private lines.
To learn more about the challenges addressed by Corvil Cloud Analytics for crypto trading, click here.
Corvil Analytics is currently used by the world’s largest banks, exchanges, electronic market makers, quantitative hedge funds, data service providers and brokers in the traditional finance market. Now Corvil Cloud Analytics provides the same highly granular visibility for crypto trading businesses to help maximize business outcomes in this emerging market.
Contact Pico now to start your free trial of Corvil Cloud Analytics for crypto trading analytics.
Pico is a leading global provider of technology services for the financial markets community. Pico’s technology and services power mission-critical systems for global banks, exchanges, electronic trading firms, quantitative hedge funds, and financial technology service providers. Pico provides a best-in-class portfolio of innovative, transparent, low-latency markets solutions coupled with an agile and expert service delivery model. Instant access to financial markets is provided via PicoNet™, a globally comprehensive network platform instrumented natively with Corvil to generate analytics and telemetry. Clients choose Pico when they want the freedom to move fast and create an operational edge in the fast-paced world of financial markets.
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