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The 2016 Trading Technology 40: Donal Byrne

No. 32 Donal Byrne, Corvil

Donal Byrne
Chief Executive Officer
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
2. Richard Prager
3. Chris Isaacson
BATS Global Markets
4. Jonathan Ross
KCG Holdings
5. Bradley Peterson
6. Brad Levy
7. Dan Keegan
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
19. Robert Cornish
International Securities Exchange
20. Paul Hamill
Citadel Securities
21. Eric Noll
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
28. Robert Sloan
S3 Partners
29. Anton Katz and Stephen Mock
AQR Capital Mgmt
30. Stu Taylor
31. D. Keith Ross Jr.
PDQ Enterprises
32. Donal Byrne
33. Alfred Eskandar
34. R. Cromwell Coulson
OTC Markets Group
35. Masayuki Hosaka
36. Peter Maragos and David Karat
Dash Financial
37. Amar Kuchinad
38. Jennifer Nayar
SR Labs
39. Dave Snowdon
40. Dan Raju

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