A transaction monitoring and tracing system which combines transactional performance monitoring aspects with infrastructure performance and utilization measures, like e.g. used memory or CPU load of transaction executing computing infrastructure. The system uses two types of agents deployed to the monitored system, a transaction and process agent, which is deployed to a process executing monitored transactions, and a host agent, which is deployed to a computer system executing processes monitored by a transaction and process agent. The transaction and process agent provides transaction tracing and process infrastructure measurements, the host agent provides host or operating system infrastructure measurements. All three types of measurements are tagged by the corresponding agent in a way that allows a later correlation of corresponding tracing and measurement data by an external monitoring node. Combining transactional and infrastructure monitoring allows fast detection of non-transactional root causes of monitored transaction performance degradations.