Delayed network protocol proxy for packet inspection in a network

An intermediary device, which behaves as a proxy for two entities after the entities have established a connection between themselves, is disclosed, as is a method that may be performed by such a device. The intermediary device can inspect a complete message, whose parts may be spread among multiple separate packets, without engaging in handshake phases with the message's origin or destination. As a first entity negotiates connection parameters with a second entity, the intermediary device stores the connection parameters as the parameters flow through the intermediary device. After the two entities have established an original connection, the intermediary device uses the intercepted parameters to form two separate connections in the place of the original connection: one between the intermediary device and the first entity, and another between the intermediary device and the second entity. To the entities, the newly formed connections appear to be same as the original connection.