NEW YORK – May 2, 2023 – Pico, a leading global provider of mission-critical technology services, software, data and analytics for the financial markets community, today announced the general availability of its Corvil Cloud Analytics on AWS (Amazon Web Services) public cloud environments.
For over 20 years, Pico's Corvil Analytics has been a trusted partner in the financial services industry, offering unparalleled insight into technology and transaction performance in dynamic network settings. As businesses increasingly migrate to the cloud, Corvil Cloud Analytics now provides the same high-quality, granular data capture and analytics capabilities in a cloud-based solution.
“As more companies transition their real-time applications to the cloud, they encounter serious challenges with the lack of visibility into the public cloud infrastructure performance provided by existing cloud monitoring tools. Corvil Cloud Analytics fills this void by measuring every order, every market data tick and every network packet. This granular view enables clients to run their most critical workloads in the cloud, with confidence.” said Ken Jinks, Executive Director, Product Management at Pico.
Demand for Corvil Analytics in the cloud is being driven by multiple clients and customer segments for several use cases:
Cloud-Hosted Exchanges – Crypto exchanges are already active in the public cloud, and many global exchanges including CME, Nasdaq, LSE and Deutsche Borse, have published plans for leveraging the public cloud. Corvil Cloud Analytics can provide the required visibility to manage cloud infrastructure performance, deliver predictable exchange performance and enhance client support.
Financial Service Providers – Market data distribution in the cloud is accelerating, with many trading clients using it. Corvil Cloud Analytics enables visibility into every market data tick, as well as insights into random disconnects and variable latency and loss on the cloud infrastructure.
Research and Development Challenges – Clients are running large research and back-testing workloads in the cloud and are finding highly variable time to completion between runs, sometimes ranging from one hour to ten hours, with no visibility. This is costing time and driving up cloud costs. Corvil visibility into cloud infrastructure performance can be used to isolate the root cause of this issue.
Security – Corvil Cloud Analytics provides the capture of every packet and analytics on every flow with real-time indexing to enable quick search, filter and export. This log of all activity with maximum granularity has always been leveraged by security on-premises to provide detailed traces of security incidents. Corvil Cloud Analytics now enables the same visibility and capability for the public cloud.
Algo Back-Testing – Many clients archive market data PCAPs to the cloud. Corvil Cloud Analytics enables full decoding of archived market data PCAP files to enable the population of a tick database in the cloud for trading algorithm back-testing.
Real-time Workload Performance Tuning – The Corvil Application Agent enables internal code instrumentation of real-time workloads in the cloud including gateways, matching engines, market data publishers, algo servers, and more. Corvil Cloud Analytics leverages this to enable a consolidated view of internal application performance and cloud infrastructure performance.
Corvil Analytics is currently used by the world’s largest banks, exchanges, electronic market makers, quantitative hedge funds, data service providers and brokers. As exchanges now partner with the major cloud providers, Corvil Cloud Analytics aligns with on-premises Corvil Analytics to provide a like-for-like comparison of Cloud and on-premises deployments. Corvil is continuously expanding its cloud solutions and is now working on further development with Google Cloud Platform (GCP), expected to launch later this year.
Pico is a leading provider of technology services for the financial markets community. 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 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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