Japannext taps Pico’s Corvil Analytics for real-time insights

Rick Steves

“The depth, quality, and immediacy of the intelligence Corvil Analytics provides enables exchanges to optimize their technology performance and client interactions, thereby achieving more efficient and effective operations.”

Pico, a leading global provider of mission-critical technology services, software, data and analytics for the financial markets community, has been selected by

Japannext, the operator of Japan’s largest alternative equity trading venue, has partnered with Pico to integrate its performance monitoring and analytics solution, Corvil Analytics.

The Corvil Analytics solution for exchanges is used by the leading equities, options, derivatives, and commodities exchanges globally.

Corvil Analytics offers depth, quality, and immediacy

With 31 active members from local and global brokerages, Japannext is not only Japan’s oldest but also largest Proprietary Trading Systems (PTS) venue, with roughly 6-7% of the Japanese market share traded on its platform.

The venue has been offering longer trading hours with the night-time session and competitive trading commission, not to mention decimal tick sizes and special order types ahead of the exchange, to the Japanese institutional and retail investors and endeavours to continue spearheading innovations in the Japanese capital market.

Japannext will leverage Corvil Analytics’ granularity, speed, and precision in monitoring and analyzing trading performance and order execution to provide real-time insights into business management and infrastructure performance, supporting client relations, network and application operations, and troubleshooting.

Georgi Georgiev, CIO at Japannext, said: “Performance, reliability, and fairness are an absolute must for our market participants. The Corvil solution provides us with real-time data to monitor the performance of our infrastructure without impacting system performance. Corvil’s support for our trading protocols allows us to correlate data across participants, trading sessions, or market data feeds per our needs. The combination of network and business layer visibility allows us to understand the client experience and how our technology is working to support the business.”

Bo Zhou, Head of APAC at Pico, commented: “We are delighted Japannext has chosen Corvil Analytics to help assure the performance and operation of its trading systems. Excellence in service assurance and performance management is intrinsic to thriving in today’s competitive landscape. The depth, quality, and immediacy of the intelligence Corvil Analytics provides enables exchanges to optimize their technology performance and client interactions, thereby achieving more efficient and effective operations.”

Pico launched Corvil Cloud Analytics in late 2022

In late 2022, Pico launched Corvil Cloud Analytics to expand the reach and visibility of Corvil Analytics into the cloud, with an offering that is simple to scale, easy to deploy and can be up and running in hours.

Corvil Cloud Analytics measures every order, every market data tick, and every packet needed to manage real-time performance in public cloud environments. Its granular, real-time visibility allows users to understand the cause of variable performance that impacts real-time applications running in public cloud.

With cloud applications, there are no hardware CapEx costs, lead times, or shipping and installation challenges. The offering is available for businesses wanting a competitive edge in the cloud.

Pico is a privately held company with a consortium of investors holding a minority ownership position, many of which are also clients, including Goldman Sachs, J.P. Morgan, UBS, and Wells Fargo. The firm first announced the deal to acquire Corvil in mid-2019.

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