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The 2016 Trading Technology 40: Donal Byrne

< The 2016 Trading Technology 4032Donal ByrneChief Executive OfficerCorvilLast 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 40Click below to view profiles
1. Raymond Tierney IIIBloomberg2. Richard PragerBlackRock3. Chris IsaacsonBATS Global Markets4. Jonathan RossKCG Holdings5. Bradley PetersonNasdaq
6. Brad LevyMarkit7. Dan KeeganCiti8. Ronald DePoaloFidelity Institutional9. Raj MahajanGoldman Sachs Group10. Ari StudnitzerCME Group
11. Mayur KapaniIntercontinental Exchange12. Gerald O’ConnellCBOE Holdings13. Nicholas ThemelisMarketAxess Holdings14. Gil MandelzisEBS BrokerTec (ICAP)15. Bill Chow and Richard LeungHong Kong Exchanges and Clearing
16. Rob ParkIEX Group17. Philip WeisbergThomson Reuters18. John Mackay (Mack) GillMillenniumIT19. Robert CornishInternational Securities Exchange20. Paul HamillCitadel Securities
21. Eric NollConvergex22. Tyler Moeller and Joshua WalskyBroadway Technology23. Rishi NangaliaREDI Holdings24. Veronica AugustssonCinnober Financial Technology25. Alasdair HaynesAquis Exchange
26. Manoj NarangMana Partners27. Gaurav SuriArcesium28. Robert SloanS3 Partners29. Anton Katz and Stephen MockAQR Capital Mgmt30. Stu TaylorAlgomi
31. D. Keith Ross Jr.PDQ Enterprises32. Donal ByrneCorvil33. Alfred EskandarPortware34. R. Cromwell CoulsonOTC Markets Group35. Masayuki HosakaRakuten
36. Peter Maragos and David KaratDash Financial37. Amar KuchinadElectronifie38. Jennifer NayarSR Labs39. Dave SnowdonMetamako40. Dan RajuTradier