The NASDAQ OMX Group(NASDAQ:NDAQ) has announced that it will partner with Corvil to enhance TradeGuard, a full-service risk management suite offering a range of tools to help firms protect against risk in today's complex trading landscape. The TradeGuard platform's RiskWrapper solution will now give clients added protection for risk by monitoring trades at the network level and comparing to trades in the risk system for protection against unwanted activity.
"By partnering with Corvil, we are able to provide our clients with protection against portfolio and market risk. With market services like TradeGuard, we look to support the financial services community by facilitating our customers' growth and alpha generation," said Stacie Swanstrom, Senior Vice-President & Head of Access Services, a division of the Global Trading and Market Services business line, NASDAQ OMX.
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"Corvil's partnership with NASDAQ OMX will provide joint customers with protection and insight into trading activity and risk. Integrating risk data based on network data with existing sources of risk analytics is emerging as a best practice, and the integration between Corvil and TradeGuard will provide customers with a highly accurate view of trading across venue sessions and protocols," said Donal Byrne, CEO, Corvil.
Monitoring trading activity directly from network data provides several advantages. By monitoring network connections right at the entry/exit point of an exchange or firm, users are assured of a more complete record of trading activity. Because data is captured directly off the network, the need to connect additional servers to client or venue trading platforms is eliminated. As a result, risk can be measured without adding latency and firms can continue to use internal risk applications with RiskWrapper acting as a comprehensive monitor of trading activity.
