Pico and ITRS Partner to Bring Network-Derived Observability to Indian Financial Markets

New partnership combines ITRS’ observability platform with Pico’s Corvil Analytics to give firms an independent, high-fidelity view of electronic trading performance, business latency and operational resilience

Pico, a leading provider of mission-critical technology services, software, data, and analytics for the global financial markets community, and ITRS, a global provider of real-time IT observability solutions for financial services and regulated industries, today announced a strategic partnership to give Indian capital markets firms deeper operational visibility across latency-sensitive trading, network infrastructure and critical business services. The partnership brings Pico’s Corvil Analytics network-derived intelligence, generated directly from packet-level network data, into the ITRS observability platform, helping firms resolve issues faster, validate service quality, improve operational visibility and strengthen resilience.

The combined solution integrates the ITRS Geneos observability platform with Corvil Analytics technology, bringing together application, infrastructure, and business service monitoring with independent, packet-based network telemetry and transaction analytics. Corvil Analytics captures trading, network, and application activity directly from packet data without instrumentation or latency overhead. By decoding market data, order entry, execution activity and network infrastructure traffic in real time, Corvil Analytics creates a complete, time-synchronized record of events across the trading lifecycle and critical business services.

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India’s financial markets continue to experience rapid growth in trading volumes, infrastructure modernization, and electronic market participation. As firms scale their environments and increase automation, operational teams face mounting pressure to identify and resolve performance issues across highly distributed trading systems with greater speed and precision.

“India is one of the world’s most dynamic capital markets, where firms are balancing rapid growth, increasing IT complexity, and rising expectations for resilience and market infrastructure performance,” said Ryan Terpstra, CEO of ITRS. “This partnership advances our mission to provide automated and holistic observability that protects critical applications for capital markets firms and enables our clients to accelerate innovation.”

Together, ITRS Geneos and Pico’s Corvil Analytics help Indian capital markets firms establish a trusted operational view of trading performance and business latency, enabling them to:

• Establish an independent source of truth for trading, market data, network infrastructure, and business services.
• Accelerate issue detection, root-cause analysis and service investigations by correlating order flow, market data, network telemetry and application performance in real time.
• Reduce operational risk by detecting latency degradation, packet loss, microbursts, market data gaps, and infrastructure issues, enabling resolution before issues escalate.
• Support compliance and governance initiatives aligned with SEBI risk management frameworks and with exchange colocation and connectivity requirements.
• Extend access to high-fidelity trading and network data across operations, analytics, compliance, quants, and AI-enabled investigation workflows.

“Pico’s Corvil Analytics technology is purpose-built for high-throughput, latency-sensitive and regulated trading environments,” said Jarrod Yuster, Founder and CEO of Pico. “Partnering with ITRS extends Corvil’s network-derived golden source of truth and enhances an observability platform used by top financial firms. Clients need an independent record of trading and business services activity for sharing across teams. This partnership helps make that possible for firms operating in one of the fastest-growing financial markets globally.”

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