Helps trading participants develop, backtest and optimise trading and execution strategies
London, 25 September 2017: big xyt, the independent provider of high-volume, smart data and analytics capabilities, announced today that SIX Swiss Exchange has joined the xyt hub to provide high quality tick data to its trading participants, enabling them to develop, evaluate and backtest new trading and execution strategies while providing greater transparency over trading activity.
Connected to more than 100 venues globally and across asset classes, the xyt hub launched in September 2017 to enable the global trading community to integrate tick data and analytics in a more convenient and cost-effective way, via a single API. The xyt hub allows trading firms to consume, analyse and visualise all the data they require through cloud-based technologies, featuring Data-as-a-Service and Analytics-as-a-Service functionalities.
Connecting to the xyt hub enables SIX Swiss Exchange to deliver full market depth data sets to their trading participants for a variety of use cases including: analytics, such as spread analytics or calculating market depth; backtesting of trading and execution strategies; and fulfilling best execution requirements. SIX and its trading participants can immediately access market-by-order granularity tick data and analytics, without costly and complex investment into in-house data infrastructure, technology or additional staff.
Marc Berthoud, Head Data Strategy, SIX Swiss Exchange, said: “SIX Swiss Exchange operates the reference market for Swiss equities. We consider that consistent order book quality measurement represents a fundamental contribution to market transparency. Big-xyt services will help brokers, algorithmic traders, buy-side firms and academics build a strong view over liquidity pooling efficiency. SIX Swiss Exchange trading participants will gain access to out of the shelf advanced analytics thanks to the big-xyt platform”.
Robin Mess, CEO, big xyt, added: “We are delighted to welcome SIX Swiss Exchange to the xyt hub. Easy and cost-effective access to high quality data carry out market impact analysis is key to optimising trading and execution strategies and driving performance. At the same time, regulatory requirements around reporting or best execution demand independent, full market depth data, with nanosecond precision. We are excited to grow the xyt hub community and look forward to expanding our collaborations in the future.”
The xyt hub Data-as-a-Service functionality allows users to access and visualise raw exchange data, normalised data and reference data via a web interface or API, integrating with any downstream system or programming environment. Users can develop algos using any methodology including Artificial Intelligence and deep learning. Furthermore, they can test and optimise algos in order to improve both execution performance and profitability. Designed to process both historical and real-time data, the Data-as-a-Service offering includes an engine for real-time processing to meet specific user needs. Data can be viewed through flexible business functions, like custom snapshots, auction phases or orderbook replay.
The xyt hub Analytics-as-a-Service functionality enables users to leverage shared analytics functions provided by big xyt, including effective spreads and market impact analysis. The customisation service allows trading firms to develop bespoke business requirements, such as back-testing, TCA, derived market data, and regulatory reporting.
Together, the xyt hub Data-as-a-Service and Analytics-as-a-Service enables clients to focus on their core business, avoid operational complexity and reduce total cost of ownership. The xyt hub is the only solution that provides API access to tick data from varied sources via a common interface, full market depth, timestamps with nanosecond precision, access to normalised data and raw data, and a customisation service for analytics.
More information about the xyt hub can be found at xyt-hub.com.
Sybille Mueller, Matt Fincham – Streets Consulting
Tel: 020 7959 2235
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 sellside 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 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.
SIX Swiss Exchange
SIX Swiss Exchange is one of the leading exchanges in Europe. It connects companies from around the world with international investors and trading participants. It creates particularly market-oriented framework conditions for listing and trading in its highly liquid segments. SIX Swiss Exchange multiplies the locational advantages of the Swiss financial marketplace with first-rate services and is an ideal listing location. It distributes its own range of indices, including Switzerland’s most important blue-chip index SMI®. With the world’s most advanced trading technology X-stream INET it offers excellent trading conditions.
SIX operates the infrastructure underpinning the Swiss financial sector and offers a comprehensive range of services around the world in the fields of securities trading and settlement, financial information and payment transactions. The company is owned by its users (approximately 130 banks of various orientation and size). Its workforce of over 4,000 employees and presence in 25 countries throughout the world generated operating income of CHF 1.8 billion and a Group net profit of CHF 221.1 million in 2016.