Nomura has been using Corvil technology in its Equities DMA operations to monitor trade performance and validate latency.
Traditionally, this has been done at millisecond (thousandth of a second) and then microsecond (millionth of a second) granularity. However, as the performance of Nomura’s DMA platform has improved, microseconds are no longer sufficient to track performance.
Latency across the various processes within NXT Direct is now expressed in nanoseconds (billionth of a second).
Corvil partnered with Nomura to achieve this result using the latest version of its CorvilNet technology, which measures and reports latencies with nanosecond resolution in real time.
This is an industry leading initiative that now allows Nomura to monitor nanosecond-level latency for its DMA clients.
The solution is co-located with all the major US equity trading venues, and provides per-client, per venue analysis. Nomura can also view latencies for single orders, acknowledgements, fills and all other order types.
Nomura Securities International co-head of Electronic Product Management for Americas Sanjoy Choudhury said that since the launch of NXT Direct, Nomura has been providing ultra-low latency Direct Market Access services to clients globally below three microseconds latency.
"Now with Corvil technology, we are delighted to be able to independently verify and monitor this performance at nanosecond granularity," Choudhury said.
