Big xyt, an independent provider of high-volume smart data and data analytics announced 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.