< The 2016 Trading Technology 40

32
Donal Byrne
Chief Executive Officer
Corvil
Last year: 36

With new regulations — notably, the far-reaching, though delayed, update of Europe’s Markets in Financial Instruments Directive — increasing the burdens of compliance and reporting, Corvil is stepping up its data analytics capabilities. “What started out as fundamentally a performance-monitoring solution is now an operational framework for how you monitor, survey and provide the data necessary to operate and run a trading plant,” explains Donal Byrne, CEO of the Dublin-based company, which rose to prominence over the past decade and a half as a provider of latency management solutions to banks, brokerages and exchanges. “The data is the answer to so many things. It is the avenue to transparency.” Corvil Tera, released last fall, is addressing cybersecurity-monitoring requirements as well as scanning for anomalous trading behavior that might require compliance or risk management attention. “The industry has moved on substantially from the Wild West days where all that mattered was speed,” says Byrne, 50. “Today it’s all about the operational correctness and operational efficiency of using technology and trading infrastructures in support of the business.” Last year Corvil grew its revenue by 40 percent, and new-client growth was 400 percent, largely from financial services and capital markets. The company estimates that its systems monitor 90 percent of equity trades on all lit exchanges; Byrne sees much of Corvil’s future growth driven by moves to bring foreign exchange and fixed-income markets into the digital age. “We’re seeing the latest trade infrastructures that were developed for equities being leveraged across other asset classes,” he says.

 

 
2016 Trading Technology 40

1. Raymond Tierney III Bloomberg 2. Richard Prager BlackRock II Communities on Infrastructure Sponsored by IFM Investors May 16, 2025 3. Chris Isaacson BATS Global Markets 4. Jonathan Ross KCG Holdings 5. Bradley Peterson Nasdaq

6. Brad Levy Markit 7. Dan Keegan Citi 8. Ronald DePoalo Fidelity Institutional 9. Raj Mahajan Goldman Sachs Group 10. Ari Studnitzer CME Group

11. Mayur Kapani Intercontinental Exchange 12. Gerald O’Connell CBOE Holdings 13. Nicholas Themelis MarketAxess Holdings 14. Gil Mandelzis EBS BrokerTec (ICAP) 15. Bill Chow and Richard Leung Hong Kong Exchanges and Clearing

16. Rob Park IEX Group 17. Philip Weisberg Thomson Reuters 18. John Mackay (Mack) Gill MillenniumIT 19. Robert Cornish International Securities Exchange 20. Paul Hamill Citadel Securities

21. Eric Noll Convergex 22. Tyler Moeller and Joshua Walsky Broadway Technology 23. Rishi Nangalia REDI Holdings 24. Veronica Augustsson Cinnober Financial Technology 25. Alasdair Haynes Aquis Exchange

26. Manoj Narang Mana Partners 27. Gaurav Suri Arcesium 28. Robert Sloan S3 Partners 29. Anton Katz and Stephen Mock AQR Capital Mgmt 30. Stu Taylor Algomi

31. D. Keith Ross Jr. PDQ Enterprises 32. Donal Byrne Corvil 33. Alfred Eskandar Portware 34. R. Cromwell Coulson OTC Markets Group 35. Masayuki Hosaka Rakuten

36. Peter Maragos and David Karat Dash Financial 37. Amar Kuchinad Electronifie 38. Jennifer Nayar SR Labs 39. Dave Snowdon Metamako 40. Dan Raju Tradier