---
title: "Corvil Decoders | Market Data & Order Entry Protocols | Pico"
description: "Decode market-data and order-entry protocols (FIX, Binary, ITCH/OUCH) into searchable intelligence. Bridge the gap between packet evidence and operational insight."
source: https://www.pico.net/products/corvil-analytics/corvil-decoders/
markdown_url: https://www.pico.net/products/corvil-analytics/corvil-decoders.md
---

# Corvil Decoders
Corvil Decoders translate raw market-data and order-entry packets into structured, searchable intelligence, giving your teams the context to investigate, triage, and optimize at the speed of markets.

## What are Corvil Decoders?

Corvil Decoders are specialized software modules that translate raw market data and order entry packets into structured, searchable intelligence. They bridge the gap between binary wire data and operational insight, exposing key fields, message types, and latency context across 600+ decoders at scale.

By the numbers

Decoders out of the box: FIX, ITCH, OUCH, binary feeds and more

Pack types: Transaction, Market Data, Voice Analytics, Enterprise and Beta

Performance overhead: passive tap capture with zero impact on trading latency

Exchange coverage across all major venues and dark pools worldwide

## Protocol coverage

Coverage

### Order Entry

FIX 4.x/5.x and native binary (exchange-specific). Exposes Order IDs, Client IDs, Price, Side, and latency timestamps for complete lifecycle tracking, from new order to execution acknowledgment.

### Market Data

Direct exchange feeds and aggregator feeds including ITCH, OUCH, and binary formats. Exposes sequence numbers, gap detection, and tick-to-trade correlation across venues.

### Custom Protocols

SDK and Plugin architecture for proprietary or internal protocols. Extend coverage without waiting for vendor releases: decoded fields integrate natively with Analytics dashboards.

## Frequently asked questions

Everything you need to know about Corvil Decoders and protocol intelligence.

### What is the difference between raw PCAP and decoder intelligence?

PCAP is raw packet evidence. Decoders translate that evidence into structured fields, allowing teams to search, analyze, and correlate data without manually parsing hex dumps. The result is operational intelligence, not just data.

### Do decoders work with proprietary protocols?

Yes. Corvil provides an SDK and Plugin architecture allowing teams to write custom decoders for proprietary internal protocols. Custom decoders integrate natively with Corvil Analytics dashboards and search.

### Which protocols are supported out of the box?

Corvil supports 600+ decoders including FIX, ITCH, OUCH, native binary feeds from major exchanges, and common network telemetry protocols. Browse the decoder library above for full coverage details.

### How do decoders integrate with Corvil Analytics?

Decoded fields are automatically indexed and surfaced in Corvil Analytics dashboards and search workflows, enabling correlated investigation from protocol-level detail to infrastructure-level context, no additional configuration required.

### Is there a performance impact from running decoders?

No. Corvil Decoders run on dedicated appliances and process data passively from network taps. There is zero impact on your trading infrastructure latency or throughput.

## Ready to decode your trading infrastructure?

Talk to our team to see how Corvil Decoders can turn raw packet data into actionable intelligence for your trading operations.