NEW YORK, NY – June 25, 2019 - Corvil today announced it has been selected by leading digital asset exchange, Seed CX, to deliver the trusted and timely intelligence required to assure the performance and client experience of its robust service. Built expressly for institutional investors, Seed CX’s execution and settlement ecosystem for trading digital assets seeks to establish a new standard for reliability and performance in this rapidly evolving asset class.
According to new research from Fidelity Investments, institutional investors are increasingly finding appeal in digital assets and many are looking to invest more in the coming five years.
Offering deeper markets, better security, and broader capabilities for settling trades, facilitating cross-border payments, and margin trading, Seed CX is a strong proponent of advancing the role of crypto assets in the financial sector.
Seed CX is committed to providing higher levels of service, trust, customer responsiveness, and flexibility, historically lacking in retail platforms, that enable institutions to more confidently trade cryptocurrencies and other digital assets. Realizing this mission, Seed CX is building the operational excellence, market safeguards, best-in-class FIX infrastructure and dedicated support required to institutionalize this asset class. Corvil’s unique depth and ability to examine the full lifecycle of each client order, analyze client execution and correlate trade outcomes with underlying technology performance serve as foundational elements to deliver a differentiated level of service.
“Corvil’s best-in-class technology provides the insight required to monitor, analyze and optimize our dynamic environment," said Edward Woodford, Co-founder & CEO of Seed CX. “Through this enhanced analysis of orders, execution, infrastructure, and market data, Corvil helps us deliver the performance, responsiveness, and reliability standards our clients now expect."
Corvil provides visibility across Seed CX’s multiple client access options (including colocated cross-connects, VPN access, and web-based access through AWS infrastructure) and proprietary binary protocol. This allows support teams to understand technology infrastructure and trading behavior as it happens, simplifying the process of responding to order related client queries. Through the ability to analyze and tune infrastructure performance as well as stay ahead of issues, Corvil enables more efficient, effective, and proactive operations.
“In deploying Corvil, we are integrating the de facto industry standard technology on which many of our clients already rely, allowing us to focus on delivering new features, stability, and a better quality product instead of developing bespoke internal tools,” said Adam Leaman, Head of Market Operations at Seed CX.
As the leader in execution and infrastructure analytics for financial markets, Corvil is supporting Seed CX to achieve an institutional-grade service experience for existing and future participants amid rapid growth, expansion and heightened industry regulatory oversight. The solution delivers real-time insight into each client’s order execution and latency, searchable by member firm, order type or security, enabling Seed CX to provide an enhanced level of transparency back to its clients.
“We are delighted Seed CX has selected Corvil to assist in meeting institutional investors’ demands for a more evolved digital asset service and client experience,” said David Murray, Chief Marketing and Business Development Officer, at Corvil. “We are proud that Corvil’s unique, real-time analysis of infrastructure, clients, and execution continue to be valuable and vital to the optimal delivery of electronic financial markets transactions across asset classes and investor segments."
About Seed CX
Through its subsidiaries, Seed CX offers a market for institutional trading and settlement of spot digital assets, and plans to offer a separate market for CFTC-regulated derivatives. Seed CX is backed by Bain Capital Ventures. Seed CX wholly owns a number of subsidiaries:
Seed Digital Commodities Market is a spot exchange for digital asset commodities.
Zero Hash is a FinCen-regulated Money Service Business and FX Dealer as well as a Money Transmitter in over 30 States. Zero Hash custodies both fiat and digital assets, with on-chain settlement.
Seed SEF is a CFTC-regulated Swap Execution Facility (SEF) that plans to offer a market for CFTC-regulated digital asset derivatives.
Seed Digital Securities Market is pending registration as a Broker Dealer with FINRA and an ATS with the SEC.
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.
To learn more about Pico, please visit pico.net.
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