--- title: "Corvil for Brokers | Execution Transparency | Pico" description: "The gold standard for execution transparency and performance: see every order, every tick, for every client, to every venue in real-time across equities, options, derivatives, FX, and fixed income." source: https://www.pico.net/products/corvil-analytics/broker/ markdown_url: https://www.pico.net/products/corvil-analytics/broker.md --- # Corvil for Brokers The gold standard for execution transparency and performance: see every order, every tick, for every client, to every venue in real-time for equities, options, derivatives, FX, and fixed income in one integrated platform. - Real-time visibility into order execution lifecycle across all hops - Precision transparency from client gateway through SOR to venue - Lower regulatory tail-risk with nanosecond-precision audit data - Reduce MTTR and hold service providers to SLA compliance ## How does Corvil help brokers? Corvil provides precision transparency and real-time analysis of the execution lifecycle through the entire trading loop, from client through to the market. It passively taps into packet data flowing in the network, automatically discovers all trading sessions, extracts trade-relevant intelligence, and correlates all actions across processing hops. Users can monitor, search, query, or investigate any action or event, live or retrospectively, at any point in the trade plant. ## Corvil analytics for broker operations ### Manage Clients Auto-discover new client flows, demonstrate transparency, reduce mean time to resolve queries, and track order lifecycle precisely. ### Manage Venues Analyze exchange latency, balance flows across gateways, monitor connectivity health, and track throttling and fill rates. ### Trading Analytics On-prem, self-managed Corvil Analytics with 600+ decoders, Intelligence Hub, and modular capture-to-intelligence components. ### Corvil Connectors Stream broker analytics to Splunk, Elastic, Kafka, kdb+, and more: integrate with existing compliance tools. ### Corvil APIs & SDK Programmatic access to all analytics, trading messages, and underlying packets for custom reporting and integration. ## Who uses Corvil for broker analytics? ### Equities & Options brokers - Track every order from client gateway through SOR to venue with nanosecond precision - Demonstrate best execution with packet-level evidence for regulatory reporting ### FX Trading desks - Minimize risk of trading off stale quotes across multiple liquidity providers - Reduce blame with counterparties using independent packet-level evidence ### Fixed Income operations - Visibility into RFQ hit rates and counterparty performance analytics - Trade platform analytics to improve execution quality and reduce risk ### Compliance teams - Nanosecond-precision timestamps and comprehensive audit trails for regulatory defense - Trusted forensic data for client dispute resolution and best execution reporting ### Trading operations - Reduce MTTR with real-time monitoring and proactive anomaly detection - Hold service providers to SLA compliance with independent latency data ## Frequently asked questions Everything you need to know about Corvil for brokers. ### How does Corvil provide execution transparency for brokers? Corvil passively taps into the packet data flowing in the network, which contains a highly granular and accurate record of all trading activity. It automatically discovers all trading sessions, extracts trade-relevant intelligence, and correlates all actions and transformations across processing hops, from client gateways through SORs to venue gateways. Everything is time-stamped with nanosecond precision, normalized, stored, and available on-demand. ### What trade performance metrics does Corvil provide? Corvil provides fill rate (percentage of request volume filled), tick-to-order (algorithm response latency), order-to-tick (venue response latency), order response latency, microburst analysis (message volume in short timescales), gap detection (sequence number tracking), relative latency (between two measured events), and bandwidth protection metrics. ### Is Corvil non-intrusive to broker trading systems? Yes. Corvil is deployed as a passive network overlay: it taps into packet data without touching trading systems, adding zero latency to the trade path. This means no configuration changes to existing systems, no software agents on trading servers, and no impact on order processing performance. ### What asset classes does Corvil support for brokers? Corvil supports equities, options, derivatives, FX, and fixed income in one integrated platform. 600+ decoders decode all major trading protocols including FIX, ITCH, OUCH, PITCH, and proprietary formats via the Corvil SDK. ### How does Corvil help brokers with regulatory compliance? Corvil provides nanosecond-precision timestamps, trusted forensic data, and comprehensive audit trails to defend regulatory obligations. Packet-level evidence supports best execution reporting and client dispute resolution. ### How does Corvil reduce MTTR for broker operations? Corvil's real-time monitoring and cross-hop correlation identify infrastructure problems immediately. Global search, side-by-side analytics, and nanosecond drilldown enable rapid root cause analysis across the entire trade plant. ### Can Corvil track orders across multiple hops? Yes. Corvil correlates all actions and transformations across processing hops, from client gateway through SOR to venue gateway. Every order is tracked at each hop with nanosecond precision, providing full end-to-end execution lifecycle visibility. ## Get real-time execution transparency Talk to a Corvil specialist about how packet-level analytics can transform your broker operations.