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Pico Taps Corvil to Build All-New Trading Platform for European Markets

Pico Expands Relationship with Corvil to meet the New Demands of European Financial Markets

Pico, a group of affiliated managed services providers of multi-asset electronic trading technologies, today announced an expansion of its relationship with Corvil as part of Pico’s continued growth in European markets. Throughout 2016, Pico has rapidly expanded its European presence and solutions offering, creating an advanced network that leverages Corvil technology to provide European customers with granular business intelligence, a fast trading environment, and data which may be used as an added tool for customers seeking to further support their regulatory compliance obligations, such as MiFID II.

Pico’s new European infrastructure includes a substantial investment in time sources that are synchronized to UTC. These time sources are used directly by the Corvil platform to create UTC synchronized monitoring, reporting, surveillance, and order-record data management. By leveraging these technologies and advanced capabilities, Pico is able to provide customers with UTC monitoring and reporting of trade transactions and market data events as part of its portfolio of managed infrastructure services.

“Corvil is an integral part of our business. From our work deploying Corvil technology across all of our U.S. data centers, we knew it would serve as a key component behind our buildout in Europe,” said Jarrod Yuster, co-founder and CEO of Pico. “Integrating Corvil was the best way to improve the speed and accuracy of our trading infrastructure and to provide European customers with access to the level of transparency and data reporting needed to meet the demands of today’s trading business.”

A first-in-class network requires a first-in-class solution to monitor, report and analyze all activity happening in the network and to make sense of this in real-time so that customer issues and queries can be pro-actively managed and answered. Pico utilizes Corvil to deliver this solution as a diagnostic tool to show customers what is happening within their network at certain points in time and as an alerting tool to notify of any issues or problems.

“Corvil has worked with Pico for years to provide the firm’s customers with deeper and more proactive visibility into the network,” said Donal Byrne, CEO of Corvil. “This expanded relationship is built on the trust, reliability and success we have experienced on both sides. We look forward to working further with the Pico team in Europe to help our mutual customers meet the challenges of the upcoming regulations recently published by ESMA.”

The Corvil solution is already deployed and operational in Pico’s European network.