Financial Services

Electronic Trading Risk & Compliance

Real-time risk and compliance monitoring built for electronic trading workflows, continuously observing all trading activity directly from the wire to detect expected and unexpected behavior, enforce pre-trade risk limits, and generate auditable regulatory reports.

Request a demo

Overview

Corvil provides the largest exchanges, banks, and market makers with complete, wire-based monitoring of electronic trading activity. By passively observing all trading and market data traffic directly on the network — without requiring server instrumentation or drop copy subscriptions — Corvil delivers a 100% complete, independent, and authoritative record of every order, quote, and execution. Corvil Discovery automatically identifies all trading traffic without manual configuration, ensuring that both expected and unexpected activity is continuously monitored.

The Challenge

Electronic trading firms face increasing scrutiny from regulators, exchanges, and counterparties — requiring continuous, real-time monitoring of trading activity for risk management, compliance obligations, and operational assurance. Traditional monitoring approaches rely on server logging and exchange drop copy connections that can fail silently, leaving firms with incomplete records and blind spots exactly when they matter most.

Key Capabilities

Monitor

Maintain continuous visibility into trading performance, market data quality, and compliance metrics at all times using passive wire observation that is independent of server logging and exchange connectivity.

Control

Enforce pre-trade and intraday risk limits with low-latency monitoring directly on the network, detecting anomalous trading events in real time without adding overhead to trading infrastructure.

Report

Generate precise, auditable reports aligned to regulatory and business requirements — automatically. Corvil Streams pull key trading events for each session and stream them to compliance systems, order management platforms, and big data infrastructure.

Use Cases

Monitoring 100% of trading activity by observing the network directly between the firm and its counterparties — eliminating the blind spots and failures of server-side logging and drop copy connections.
Performing independent real-time reconciliation between client-side and venue-side trading activity across DMAs to detect discrepancies before they become compliance events.
Getting an accurate view of exact trading state between the firm and its counterparties, even when server logging and exchange drop copy connections fail.
Using Corvil Streams to generate session-level trading event records for network data drop copy servers and real-time streaming to third-party compliance and risk platforms.

Solution Highlights

Corvil discovers, decodes, correlates, captures, and analyzes network data in real time with zero impact on the performance of trading infrastructure.
Simply deploy an appliance at the network perimeter and within hours you have a real-time, 100% complete view of all trading activity — no server changes required.
Network data offers an independent, complete, and authoritative record of all trading and market data activity, unaffected by server failures or exchange connectivity issues.
Corvil Discovery ensures all trading traffic is monitored — whether it was expected or unexpected — without requiring manual configuration of network addresses.

What You Achieve

Eliminate the risk of unmonitored trading by detecting all trading activity — expected and unexpected — directly from the wire with zero blind spots.

Get an accurate view of the exact trading state between the firm and counterparties even when server logging and exchange drop copies fail.

Perform independent real-time reconciliation across DMAs to detect and address discrepancies before they escalate into regulatory events.

Ready to see it in action?

Talk to a Pico specialist about your environment and how Electronic Trading Risk & Compliance fits your needs.

Request a demo All solution sheets