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, says: “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 (pictured), CEO, big xyt, adds: “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.