Deutsche Borse Systems, the IT subsidiary of Deutsche Borse, has deployed a precision latency monitoring and reporting service for Xetra and Eurex market participants, from Corvil, a provider of electronic trading and market data latency management systems.
The deployment provides a full range of latency statistics based on microsecond distribution measurements for both order and market data on Deutsche Borse’s new data interfaces enhanced broadcast solution (EBS) and enhanced transaction solution (ETS). It provides normalized latency ranking tables for a specific market participant’s trading session relative to all other peer trading sessions in the same reporting period.
For ETS 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 providing the average, median, 99th percentile, 99.9th percentile, and overall normalized ranking.
The new latency monitoring and reporting service is accessible to all members via the Xetra member section on the Deutsche Borse web site and in the member section on the Eurex website.
Gerhard Lessmann, member of the executive board at Deutsche Borse Systems, said: “Deutsche Borse Systems is committed to providing our trading members with the highest levels of latency transparency to optimize their trading experience on our platforms.”
Donal Byrne, CEO of Corvil, said: “This is the first time we have seen a market center offer normalized latency ranking information for a high frequency market. Relative latency information is what is important for traders. It does not matter how fast someone is trading, it only matters how fast they are trading relative to all others in the market at the same time.
This project represents a significant advancement in the state of the art for latency monitoring and transparency and I am delighted to see Deutsche Borse Systems leveraging CorvilNet to achieve this innovative breakthrough.”
