TSE to offer Corvil performance management solution to trading network users

26 February 2014   Category: News, Asia, Japan   By Maya Ando

The Tokyo Stock Exchange (TSE) is now offering CorvilClear latency performance management as a service for the users of its arrownet network. CorvilClear was developed by Corvil, which provides operational performance monitoring to financial institutions and enterprises. Through the new service, trading parties on arrownet will have deeper insight into the quality of trade and market data communications between the TSE and their own systems.

Yoshinori Suzuki, managing director and chief information officer of the TSE, said: “Supplying a latency measurement and performance management service that uses industry leader CorvilClear allows us to add value to our network infrastructure and thereby to enhance market user-friendliness, as well as responding to the latency management needs of our market participants. We will continue to strive to build a highly reliable and efficient market infrastructure in order to achieve our aim of becoming the most preferred exchange in Asia.”

Donal Byrne, CEO of Corvil Ltd, added: “We are extremely honoured to be able to supply CorvilClear to the Tokyo Stock Exchange. We will redouble our efforts to expand the Tokyo Stock Exchange’s continuous IT infrastructure and to enhance its presence in Asia.”

CorvilClear is a solution that delivers visibility into the latency and order-to-execution processing performance of electronic trades and market data across interconnected parties in the trading network. With CorvilClear at its core, the new latency performance management service will be offered by the TSE through a menu within arrownet. The service will enhance the efficiency of network operations and increase the transparency of the TSE trading marketplace for users.

The TSE has been utilising Corvil for latency performance management of its arrowhead and Tdex+ trading systems as well as arrownet, which connects these systems to market participants since 2012. Through Corvil, the exchange has benefited from enhanced performance management of its order processing and market data distribution. As of the end of January 2014, the TSE has increased market capitalisation to 450 trillion yen, marking its best performance in the last five-and-a-half years.

Peter O’Connor, Corvil’s vice president for sales in Asia, remarked: “We see continued growth in this region fuelled by the need for exchanges to showcase their technology; global investors seeking higher returns and diversification in an expanding and developing market; as well as local trading firms who are seeking to capitalise on new opportunities and demanding faster technology and lower latencies.”