Wolverine Chooses Corvil to Assure Execution Performance

Corvil today announced that Wolverine Execution Services (WEX), a leading provider of value added technology and execution services, has selected Corvil to help WEX maneuver an increasingly complex and evolving trading environment that stems from the introduction of new technologies, regulations, and exchanges in today’s market.  Corvil will complement the tools used by WEX to […]

How much does trade execution really cost

Corvil today announced that Wolverine Execution Services (WEX), a leading provider of value added technology and execution services, has selected Corvil to help WEX maneuver an increasingly complex and evolving trading environment that stems from the introduction of new technologies, regulations, and exchanges in today’s market.  Corvil will complement the tools used by WEX to maintain its high standards for client execution, such as a 99% fill rate for marketable options orders, by providing a real-time picture of operations performance across its network of trading venues.

WEX delivers a highly optimized trading platform allowing multiple asset classes to be executed in parallel on disparate execution venues. The growing number of venues for each asset class, has created more complexity and uncertainty in order fulfillment. Corvil’s technology will help WEX mitigate these increased pressures on best execution by providing greater transparency into how client orders are flowing across their entire trading environment.

“WEX has always prioritized execution performance and quality, currently offering our customers a fill rate in the 99 percentile range for marketable options orders,” said Troy Googins, WEX Head of Product and Business Development. “As the market becomes increasingly fragmented it has become even more important for us to be aware of all the factors that could affect execution quality across every exchange. We can utilize Corvil to aid in navigating these challenges and to ensure our system is constantly operating at peak performance.”

With Corvil, WEX can obtain a comprehensive picture of business and infrastructure performance in real-time, which can help to identify and resolve operational issues as they arise. Corvil also offers the ability to continuously monitor and analyze trading activity and system efficiency, and alert against unusual activity and/or traffic volumes that may affect execution outcome.

“We believe that companies with the best understanding of the relationship between speed variability and price certainty across multiple venues will have a significant competitive advantage in managing order performance,” said Donal Byrne, CEO of Corvil. “We are excited to work together with WEX and ensure they retain their already outstanding track record in execution services as market technologies continue to evolve.”

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