Deutsche Boerse Systems Deploys Corvil Technology For Latency Transparency

Corvil, a provider of electronic trading and market data latency management systems, announced that Deutsche Brse Systems, the IT subsidiary of Deutsche Brse AG, has deployed a precision latency monitoring and reporting service for Xetra and Eurex market participants that

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Corvil, a provider of electronic trading and market data latency management systems, announced that Deutsche Brse Systems, the IT subsidiary of Deutsche Brse AG, has deployed a precision latency monitoring and reporting service for Xetra and Eurex market participants that provides for the first time a full range of latency statistics based on microsecond distribution measurements for both order and market data on Deutsche Brse’s new data interfaces Enhanced Broadcast Solution and Enhanced Transaction Solution. This latency monitoring and reporting service achieves another industry first by providing normalized latency ranking tables for a specific market participant’s trading session relative to all other peer trading sessions in the same reporting period. The latency distribution measurements underpinning Deutsche Brse’s cash market Xetra and derivatives market Eurex service are based on Corvil’s Latency Management System – CorvilNet 5.2.

“Deutsche Brse Systems is committed to providing our trading members with the highest levels of latency transparency to optimize their trading experience on our platforms,” says Gerhard Lemann, member of the executive board, Deutsche Brse Systems AG. “By leveraging the unique latency measurement and analytics capability of the CorvilNet platform, we have successfully achieved an industry first in low latency monitoring and reporting for high frequency trading.”

The new service provides latency statistics for Enhanced Broadcast Solution market data messages for both streams of the live-live-setup over the entire business day. Historical Information for up to five business days is provided. The contents of the latency information provided include: minimum, average and maximum latency in microseconds, as well as 90 percent and 99.5 percent latency percentiles. Currently the data is published for users of the most latency sensitive Proximity Services. Extension to all other Xetra and Eurex Access Points is in preparation.

For Enhanced Transaction Solution trading sessions, both Xetra and Eurex use CorvilNet to monitor round-trip response times for all member’s trading sessions to the trading gateways. Statistic data is published on all relevant sessions (showing an ample amount of transactions) providing the average, median, 99th percentile, 99.9th percentile, fastest, slowest and overall normalized ranking. The “overall ranking field” provides the relative latency ranking for the given trading session amongst peer trading sessions in the market.

The new latency monitoring and reporting service is accessible to all members via the Xetra member section on the Deutsche Brse web site and in the member section on the Eurex website.

D.C.

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