Liquidity Cockpit
 for ETFs

We provide the ETF community with reliable market quality metrics for global products, a complete picture on European ETFs including RFQs, and coverage for global markets including the US, Canada and the main regions in APAC.

big xyt’s Liquidity Cockpit for ETFs solution is a consolidated source of security metrics for global exchange traded funds (ETFs), derived from multiple sources, encapsulating national regulated trading venues, multilateral trading facilities (MTFs) including ‘request for quote’ (RFQ) platforms, and OTC/SI reported transactions, all disseminated through a single, standardised data feed or consolidated view.

European market comment “…high demand for consolidated tape data and the benefits of delivering the data clearly outweigh the cost of implementing it…the delivery of Consolidated Tape data for the EU is already long overdue…”
Market partners report for EC (Sep 2020)

ETF Solution

Utilising this core ETF solution alongside the highest quality reference data, big xyt offers four core ETF services

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Peer Group
Selection

For selected instrument(s), identify the peer group using a multitude of fund data characteristics, such as underlying asset class, geographic focus, sector, sub-sector, replication type, fund domicile, income treatment and tracking benchmark.

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Venue
Volumes

For selected instrument(s), reported volume from all regular markets (RMs), multilateral trading facilities (MTFs), incorporating Request for Quote (RFQ) volume along with all trade categories including OTC/SI transactions.

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Venue
Spreads

For selected instruments, various spread metrics (in bps) are available, e.g. ‘At Touch’ best bid offer (BBO), Effective spreads at flexible trade sizes such as 25k EUR, 25kUSD or 100k USD, along with Spread Presence (period of sufficient depth in the order book as %).

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Pre-trade
Analysis

Load equity basket(s) with holdings (or % weighting and NAV), to generate a pre-trade view on basket with individual instrument nominal, price, notional (in local and fund currency), weighting, % ADV and the average spread (bps).

Why does the industry use big xyt?

  • Best data quality for secondary markets (reference for any external communication).
  • Seamless integration with clients, e.g. direct connectivity for Tableau, Power BI or via Python API.
  • Comprehensive functionality, e.g. market share, peer group analysis, market quality, pre-trade and post-trade analytics.
  • Available T+1 or same day (delayed, real-time).
  • Flexible and tailored pricing for any size of business.

Value proposition for ETF issuers

  • Sales and marketing can easily produce high-quality material for external communication.
  • Product development can analyse ETFs across all issuers and listings.
  • Monitoring of Market Quality enables eye-level conversations with market makers and exchanges.
  • Capital markets desks gain granular insights about liquidity, e.g. price movement on lit markets during RFQ trades.

Access to big xyt’s Liquidity Cockpit for ETFs solution is available via a number of established engagement mechanisms:

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Web-based Dashboards

Our dynamic dashboards provide simple, flexible views for interactive use, data download, custom design and white-label solutions.

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Reports and Notifications

Pre-defined / bespoke reports managed directly via our dashboard or configured as scheduled reports, distributed via email and/or SFTP.

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Data Feeds and APIs

Data extract via scheduled file delivery. Transfer batch files using SFTP, or utilise our API connectivity (essential for data science and quant teams).

Subscriptions

LITE

  • GUI access to individual European domiciled ETFs
  • T+1 venue volume and spread data in a single view
  • Insights into ETF liquidity
  • Prior 30 day view

PROFESSIONAL

  • Return multiple ETFs
  • Peer group compare
  • Date range history (to 2 years)
  • Daily volume + trade category
  • Daily spread depth
  • Insights into ETF liquidity

ENTERPRISE

  • As per ‘PROFESSIONAL’ plus
  • Customised/scheduled reports
  • Data/report extraction
  • Data access via API or SFTP
  • Visualisation technology such as Tableau/Power BI
  • Pre-trade basket analysis
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