White-Label Solution for
Trading Venues

big xyt hosts analytics solutions under a client’s branding to deliver a rich suite of trading measures that firms can use on a daily basis to help manage their business and enhance the services they deliver to their clients.

Using unique peer group rankings, trading firms can explore their market share, examine how they interact with the order book, and view their trading performance.

As well as enhancing management oversight, the tools enable client-facing staff to discover highly granular information about their trading flows and identify their competitive advantages.

White-labelling also enables clients to monetise their information services further, creating a new revenue stream for the trading venue.

Key benefits to
member firms

fully-hosted-web-based
Fully hosted and web-based, delivered daily to the desktop
granular-information
Enables provision of highly granular information to own clients
management-oversight
Enhances management oversight with peer group rankings
trading-strategies
Supports improvements of trading strategies and algos
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Banks, asset managers, exchanges and market participants across the globe consistently rely on big xyt as an independent reference for equity market structure, providing clarity for decision makers and flexibility for data scientists.

Users of the service

  • Management - can monitor and review business performance over time in terms of the evolution of their volumes and market share.
  • Client-facing sales and sales traders - can use the information to highlight their strengths in providing liquidity to their clients and support them in the trading process.
  • Product managers - can use the service to help improve their algorithms and trading strategies.
  • Compliance staff - can augment their existing monitoring and control systems using the analytics provided.
  • Corporates - the services can also be used by listed company treasurers, e.g. when they are involved in buy-back transactions, and by investor relations to help understand how the company’s shares are trading by comparison to the sector and other listed names.

What data can be provided through the service?

The information below introduces the potential scope of the type of data that can be provided through the service. This is not an exhaustive list and we are interested in other metrics firms may require.

Data is private – a member firm can only view its own data. Peer group and market average comparisons can be provided where there is sufficient aggregation available to the extent that no individual firm can be identified.

Volume History and Trends

  • Value Traded by Firm
  • Average Daily Value, Total Value Traded over time periods
  • Available by Business Sector, Symbol, Index, Client, Trader, Desk
  • Peer Group and Market Share

Market Order Level Execution Metrics

  • Order - Order Sizes; Fill Rates, Fill Ratios, Orders to Trade Ratio; Fill to Unfilled Orders Ratio; Time to First Fill and Time to Complete; Passive/Aggressive Order Ratio
  • Trading Measures - Price Impact at various time offsets; Spread Capture; Best Execution
  • Spread Measures - Quoted Spread (bid-offer) when firm’s orders are present; Effective Spread (spread at time of trade); Realised Spread (spread at time of trade plus offsets)

Client Order Level Execution Metrics
(Trading Cost Analysis)

  • Performance vs Standard Benchmarks including VWAP, Participation, Market on Open, Market on Close, Arrival Price, EBEX, Custom Benchmarks
  • Market orders and trades that make up the execution of a client’s order can be combined to create microscopic order execution audit trails
  • This helps to identify and explain trades that contribute to abnormal results

Accessibility

  • The data can be offered on the basis of T+1, real-time or delayed
  • Users may interact with the data via a flexible range of web-based GUIs using data visualisations, grid layouts and filters to allow ease of navigation
  • Data may be downloaded in PDF, CSV and other formats

Measures

  • Most measures are ‘out of the box’ but can be parameterised or filtered to meet the specific requirements of member firms

Winner of Best Data Provider Overall in the Hedgeweek European Awards 2023
Shortlisted in the UK FinTech Awards 2023 for Data Initiative of the Year
Outstanding Market Data Provider at The TRADE’s Leaders in Trading Awards 2022

Best TCA Tool at A-Team’s TradingTech Insight Awards 2021 and 2022
Shortlisted in The TRADE’s FinTech of the Year Awards 2020
Outstanding TCA Provider at The TRADE’s Leaders in Trading Awards 2019

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