big-xyt integrates client executions with its consolidated view to create flexible TCA solution
Changing the way data is interrogated and benchmarks viewed
London, Frankfurt, 23 April 2019. big xyt, an independent provider of high-volume smart data and data analytics, is pleased to announce that, following consultation with a number of clients, the big xyt analytics platform has been extended to include Transaction Cost Analysis (TCA).
It is recognised that post-trade TCA is transitioning from just a compliance solution to being seen as a crucial business function and big xyt is transforming the traditional view of TCA with data science; applying advanced techniques to increase quality and deliver flexible consolidated data views.
Whilst TCA benchmarking calculations have not radically changed over the years firms increasingly demand flexibility to benchmark in-house analytics with an independent market source, in a way that better fits their business requirements.
big xyt solutions capture, normalise, collate, and store trade data at a granularity that has not previously been available in the market. Multiple delivery options include dashboard and API solutions which allow clients to add their own proprietary data layer, including their trade history. Clients are able to interrogate the information in multiple ways with an automated ad-hoc reporting facility or integrate this into their own internal applications for analysis such as broker review, sales, workflow optimisation as well as compliance & best execution.
Robin Mess, CEO, said, “Working with our clients has enabled us to evolve our offering to include TCA. The normalised data we provide enables them to analyse the data allowing them to see the full picture and make fully informed comparisons.” he added, “We are delighted to see them quickly benefitting from our unique analytics approach and the flexibility of the output.”
Mark Montgomery, Head of strategy and business development, commented “We are effectively delivering data analytics as a service applied to TCA, enabling firms to ask themselves whether they are applying the right benchmarks and right trading strategies. He continued “By giving clients the ability to interrogate their own data and assess a consolidated view they can validate trends that are fit for their purpose”
The big xyt analytics solutions combine scalable analytics engines with highly interactive dashboards, e.g. the Liquidity Cockpit dashboards provide an independent consolidated, normalised view of all major Regulated Markets, Multi-lateral Trading Facilities (MTF) and SIs. The data and detailed analysis big xyt provide is allowing exchanges, brokers, industry bodies, analysts and media to prove and compare execution quality, liquidity, spreads and costs in a truly like-for-like way.
Media contact for big xyt
The Realization Group
+44 (0)7974 937 970
About big xyt
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 sell-side 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 has created an ecosystem for tick data analytics covering more than 120 trading venues globally. Its technology normalizes trade conditions of all venues allowing consistent aggregations of trading volumes. big xyt’s analytics solutions are relevant for a broad range of use cases including strategy development, back testing and regulatory changes like MiFID II. The platform offers a convenient and interactive user interface that allows users to discover relevant information quickly.
Delivered as a web service, the big xyt solution requires no technical integration.
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.