Combining TCA and sophisticated quantitative modelling
Frankfurt, London, 27th February 2020 – big xyt, the independent provider of market data analytics, is pleased to announce that Kepler Cheuvreux, a leading independent European financial services firm specialising in research, execution services and advisory services, is implementing their award-winning Execution Analytics including Transaction Cost Analysis (TCA).
big xyt takes execution analytics beyond Transaction Cost Analysis (TCA), transforming the traditional view of TCA with data science; applying advanced techniques to increase quality and deliver consolidated data views for its clients. TCA has transitioned away from being a routine compliance solution to being a critical business function. big xyt solutions capture, normalise, collate and store trade data at a granularity that has not previously been available in the market.
Kepler Cheuvreux’s quant teams, who are responsible for algo development for their award-winning execution platform as well as execution analysis, took big xyt through a detailed evaluation process and met all requirements at every stage. These included data quality, ease of use, introduction of new custom benchmarks on the fly and client service responsiveness. Delivered via a custom API, the platform enables Kepler Cheuvreux to add their own proprietary data layer, including their trade and order history. All results are then available for download or review using the flexible interactive dashboards in addition to the API.
big xyt’s independent Execution Analysis supports essential TCA requirements – benchmarking trades and orders for best execution, compliance and client reporting, through to providing full API access to the most sophisticated quantitative analytics functions for exchanges and sell-side and buy-side analysts. Being able to immediately access normalised data in order to apply standard and custom benchmarks brings cost and time saving benefits to firms in several areas including sales activity, workflow optimisation, compliance, plus best execution and broker review.
Dan Amara, Head of Trading Expert at Kepler Cheuvreux, commented: “big xyt’s unique approach to Execution Analysis offers us control, flexibility, integration and transparent analysis of our data, which are priorities for both us and our clients.” He continued, “While TCA benchmarking calculations have not radically changed, the technology has and we require increasing levels of flexibility to benchmark our own in-house analytics with an independent smart market source and big xyt can deliver on that. At a time when we are undergoing changes of scale of our own, we are already seeing immediate benefits from big xyt’s accessible analytics platform.”
Mark Montgomery, Head of Strategy and Business Development at big xyt, said “We are delighted to have an award-winning client like Kepler Cheuvreux who is clearly recognised for their quality of European execution.” He added “Our technology and focus enable us to move beyond traditional TCA and provide Kepler Cheuvreux with the ability to integrate their own data with our consolidated view. This in turn can facilitate the interrogation and evolution of liquidity sourcing algorithms, in order to continuously evaluate and enhance their client offering.”
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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 buy-side 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.
For more information visit www.big-xyt.com or follow us on Twitter @bigxyt
About Kepler Cheuvreux
Kepler Cheuvreux is a leading, independent European financial services company that specialises in research, execution, advisory and asset management services.
The group employs a staff of around 600 and is present in 13 major financial centres in Europe and the US: Amsterdam, Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Oslo, Paris, Stockholm, Vienna and Zurich.
Key facts and figures about the group:
- 1st independent European equity broker
- EUR1bn of equities traded daily on average
- Leader in equity research coverage in Continental Europe
- 1st for Equity & Equity-Linked Trading & Execution (Extel 2019)
- Second-best broker for research in Europe (Extel 2019)
- 13 major financial centres in Europe and the US
- 600 employees