Liquidity Cockpit to track LIS trading activity in line with ESMA thresholds
big xyt, the independent provider of high-volume, smart data and analytics capabilities, today announced the launch of its Liquidity Cockpit, designed to give global trading and investment firms enhanced visibility over dark and lit liquidity, and the ability to navigate and analyse European market share across a fragmented and dynamic market landscape.
With the anticipated MiFID II dark volumes caps coming into force and the rise in Large in Scale (LIS) trading activity, equity market participants need to recognise LIS classified trades, track market share and navigate interactions across different liquidity pools.
The big xyt Liquidity Cockpit provides exchanges, brokers, heads of trading on both buyside and sellside firms with an overview of market share across all major European venues, including LIS categorised trades in line with ESMA thresholds, and the ability to act on changing market dynamics.
The cloud-based big xyt Liquidity Cockpit offers a normalised view of all trading data in tick granularity across European markets. The platform captures all trades across European trading venues and trade reporting facilities, normalises the data while keeping track of changes in trade conditions, and applies custom measures such as LIS classified trades. Data, including master data, trades, quotes and market depth, is available for download, visualisation and analytics.
The highly interactive dashboard uses powerful visualisation tools that enable users to quickly analyse data sets by security, venue, index, trade condition or share of LIS trading across European trading venues. The resulting analytics are available in real time and can be integrated into any existing streaming infrastructure, such as OMS or EMS.
The Liquidity Cockpit is designed to immediately and continuously reflect changes in the trading environment. New logic, proprietary or shared, can be incorporated within hours; by connecting quickly and easily to our cloud-based platform via APIs, trading firms can use their own business logic on our platform to leverage analytics for their business, including data on liquidity, market share or depth of order book.
Robin Mess, CEO at big xyt, said: “We are very excited to launch Liquidity Cockpit to help trading firms navigate and compete in an increasingly fragmented liquidity landscape. We are very encouraged by the interest we have received as the Liquidity Cockpit proves to be an independent, consolidated view of pan-European trading activity instantaneously reflecting the on-going changes
of market structure, e.g. LIS executions.”
He added: “We have set out to build the tools necessary to navigate a data and analytics driven trading environment. We look forward to expanding our collaborations with the industry at large, as we envisage the Liquidity Cockpit becoming an invaluable asset to heads of trading and their teams, for both buyside and sellside firms as well as trading venues.”
big xyt provides independent smart data and analytics solutions to the global trading and investment community, enabling firms to process and normalise large data sets on demand and in real time, in order to comply with regulatory requirements and reduce the complexity of their operations.
The seamless and highly scalable integration of big xyt data aggregation and consolidation capabilities allows buyside and sellside firms to transform into a data-driven business while the innovative analytics capabilities enable them to gain actionable insights, discover alpha and maintain a competitive advantage.
Connecting quickly and easily to our cloud-based platform via APIs, trading firms, ISVs and trading venues can use their own business logic and data sets on our platform to leverage analytics for their business, including liquidity measures such as market share or depth of order book, as well as analytics around market impact. New logic can be incorporated in as little as 24 hours.
big xyt was founded by a team of experts combining more than five decades of experience in risk management, regulatory and financial reporting, analytics solutions arising from regulatory requirements, e.g. MiFID II, and engineering for data management and analytics. The team of seven founders has been working together since 2005 and in 2014 they formally formed big xyt to continue and expand this work.