This content is from: Portfolio
The 2016 Trading Technology 40: Donal Byrne
No. 32 Donal Byrne, Corvil


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.
![]() 2. Richard Prager BlackRock ![]() 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 |