Corvil, a specialist in real-time data analytics and regulatory solutions for the financial services industry, has been selected by Wolverine Execution Services (WEX) to help facilitate and support its trading regime, with an emphasis on the implementation of new technologies to the reconciliation of new regulatory measures for clients, per a Corvil statement.
WEX is a provider of value added technology and execution services – the group’s solutions help clients trade options, futures and equities through its proprietary software platform. The selection of Corvil will also help complement its existing client execution services suite, including its 99% fill rate for marketable options orders. In addition, Corvil will help provide real-time picture of operations performance across WEX’s network of trading venues.
Overall, the Corvil partnership will also provide benefits to WEX’s clients in the form of technological solutions, emphasizing best execution and improved transparency measures throughout the entirety of its trading environment.
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According to Troy Googins, WEX’s Head of Product and Business Development, in a recent statement on the partnership, “WEX has always prioritized execution performance and quality, currently offering our customers a fill rate in the 99 percentile range for marketable options orders.”
“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,” he added.
“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. 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,” explained Donal Byrne, Chief Executive Officer of Corvil.