Optimizes Electronic Trading Reliability and Transparency for the Most Efficient and Scalable Global Platform with a Big Data IT Environment
First Exchange Group to Deploy Independent Solution to Better Serve Regulatory Functions for Member Firms
NEW YORK, June 4, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today plans to implement CorvilNet, an independent solution for operational performance monitoring that provides a new level of visibility, safeguards and protection for the exchange group's U.S. trading platforms. CorvilNet is powered by Corvil, the leading provider of real-time operational performance monitoring for wire data.
NASDAQ OMX will leverage CorvilNet to better serve member firms that contribute to the exchange group's deeply liquid marketplaces. CorvilNet's operational performance monitoring system provides the exchange group with the ability to simultaneously analyze activity at the network, application and trading layers. The comprehensive information that is captured will allow the exchange group to alert for anomalies in real time and improve technology systems performance. Advanced diagnostic tools may be used to track the full life cycle of a trade, enhancing NASDAQ OMX's ability to respond effectively to member firm queries relating to technical issues, performance levels, or trading outcomes.
In addition, the independently developed tool will strengthen NASDAQ OMX's ability to ensure compliance in a fragmented marketplace with heightened focus on transparency. The exchange group will use CorvilNet to support regulatory functions such as tracking all outbound data feeds to member firms and the Securities Information Processors. With an enhanced view into its system, NASDAQ OMX will continue to optimize its core INET trading engine, which powers 1 in 10 of the world's security transactions.
"Our adoption of Corvil's operational performance monitoring technology demonstrates our commitment to better serve our member firms," said Eric Noll, Executive Vice President of Transaction Services U.S. and U.K. at NASDAQ OMX. "The CorvilNet solution monitors and enhances the trading experience, detects complex anomalous behavior, achieves an additional level of visibility into trading events and intelligently alerts our information technology systems and staff."
"We continue to proactively integrate sophisticated technology solutions as a means to reduce risk exposure in a constantly evolving electronic marketplace. There is a need for greater visibility to deal with competitive and regulatory forces that shape operations," Mr. Noll added.
CorvilNet uses dedicated network-attached data appliances, which acquire data passively from the network wire, thereby avoiding any extra burden on trading system components. After time-stamping all acquired data, the system provides real-time decoding of the content within the data, allowing it to expose all data fields from hundreds of market data, orderflow and middleware protocols. This allows users to search, filter and process captured data based on order IDs, client IDs and other meaningful application-layer data fields, in real-time.
"Many monitoring tools and architectures struggle to deal with the high volume, variety and velocity of data present in the world's leading electronic exchanges," said Donal Byrne, Chief Executive Officer of Corvil. "Tapping into the network wire is the most effective method to achieve this but it requires a sophisticated system than can transform the unstructured wire data into operational context and business intelligence in real-time. This is what our platform provides thus making it possible to build a new generation of independent visibility, detection and control systems that greatly reduce risk and improve the orderly operation of electronic trading systems."
"We are delighted that NASDAQ OMX has chosen Corvil for this important initiative and we look forward to working with them to realize their vision for a faster and safer electronic exchange," Mr. Byrne added.
Approximately 25 billion messages pass through NASDAQ OMX's U.S. equities and options systems on an active day, which amounts to over 1 million transactions per second in a trading day. During volatile periods, peak message traffic can be double. NASDAQ OMX will use Corvil for latency monitoring and performance measurement on its U.S. equities platforms including The NASDAQ Stock Market, NASDAQ OMX BX and NASDAQ OMX PSX; and U.S. options platforms including NASDAQ OMX PHLX, NASDAQ Options Market and NASDAQ OMX BX Options. The Corvil platform maintains a high-velocity data store of approximately 0.5 petabytes containing records of orders, market data and various metadata that provide operational and business context to the data. In 2011, NASDAQ OMX and Corvil partnered to launch the CorvilNet OMnet Module that provides full latency measurement and transaction performance visibility for the NASDAQ OMX Market Technology suite of trading platforms which are used by 70 marketplaces in 50 developed and emerging countries.
Corvil provides Operational Performance Monitoring (OPM) for IT. The Corvil platform extracts real-time operational intelligence from wire data and uses this intelligence to analyse the performance of IT applications and services, detect and alert on events in real-time and export enriched data for business intelligence and risk management analysis. Customers use Corvil to optimise and safeguard the operational performance of their business processes and services. The Corvil platform uniquely handles the demands of high-performance, low-latency and data intensive IT environments. The company was founded in 2000 and operates from New York, London, Singapore, Tokyo and Dublin. For more information on Corvil please visit www.corvil.com.
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets including 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-55 microsecond average speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,300 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's implementation of CorvilNet and NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
CONTACT: Media Contacts: Sheila Carroll Corvil +353 1 859 1040 Sheila.Carroll@Corvil.com Robert Madden NASDAQ OMX +1 646 441 5045 Robert.Madden@NASDAQOMX.com