Smart data and analytics provider big xyt has launched a real-time data analytics service, granting users access to a consistent, normalised and high-quality dataset of European trades and European Best Bid and Offer benchmark prices.
The product allows investors to analyse consistent, reliable pre- and post-trade information, facilitating a more informed view of liquidity and trading conditions at a particular moment and enhancing algorithmic strategies.
Data is processed in less than a second, with 500 daily intraday data quality checks performed on the platform. It uses big xyt’s proprietary European consolidated tape, and can capture billions of messages daily, the company says.
As a turnkey solution, the product is accessible through web-based front-ends and APIs. This reduces the time, cost and resources required for implementation, big xyt says.
For exchanges, the platform grants access to same-day, consolidated reports on market fragmentation, allowing for the monitoring of market fragmentation and improvements in the information available to participants and internal teams.
Users can monitor securities’ consolidated liquidity through the service, including unexpected off-book trading, pending or unusually large trades and sudden over-the-counter volume increases.
Robin Mess, CEO and co-founder of big xyt, says: “We have established a strong reputation with leading buy-side firms as the ‘Golden Source’ for European securities data. We [are meeting] growing industry demand for consolidated, normalised and real-time data analytics on European markets liquidity, particularly with respect to off-book volumes.
“Moving from overnight to real-time data processing reduces the complexity of market fragmentation in a cost-effective way, and will enhance the attractiveness of European markets to issuers and investors alike.”
