Big xyt, provider of smart data and analytics solutions, has launched its ‘first-to-market’ real-time data analytics services for consistent and normalised dataset of European trades and EBBO (European Best Bid and Offer) benchmark prices.
Leveraging big xyt’s proprietary European consolidated tape, the solution captures billions of messages daily, and processes data in less than a second, with 500 intraday data quality checks daily.
Robin Mess, CEO and co-founder at big xyt, said: “We have established a strong reputation with leading buy-side firms as the ‘Golden Source’ for European securities data. We are delighted to be able to take our proven data analytics expertise to the next level to meet 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.”
Using the solution, trading firms can effectively monitor consolidated liquidity for any security (stock or ETP), including unexpected off-book trading activity, trades of unusually large size, pending trades and sudden increases in OTC volumes. Investors can access and analyse consistent and reliable pre-trade and post-trade information to better understand liquidity and trading conditions at the time it occurs and to support algorithmic strategies. Exchanges can access same-day, consolidated reports on market fragmentation to monitor liquidity and inform participants and internal teams.
The solution is delivered ‘as-a-service’ and is accessible via web-based front-ends and APIs, helping to minimise the burden of resources, time and costs of implementation.
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