26 July 2023: London and Johannesburg big xyt, the independent provider of smart data and analytics solutions to the financial community, and the Johannesburg Stock Exchange (JSE), the largest stock exchange in Africa, today announced the launch of big xyt ecosystems. The mission of the new company is to provide the innovative Trade Explorer data analytics platform, which was launched in South Africa earlier this year, to other financial centres around the world.
The platform enables trading venues to distribute data analytics solutions to their information services customers, including the trading firms, issuers and investors that comprise a finance ecosystem. The solutions are delivered directly to end users through web hosted services under the branding of a sponsoring venue, meaning rapid time to market and low cost of ownership.
Trade Explorer provides sophisticated analytics tools that enable users to understand market liquidity and flows, market share, business concentration, and execution performance. It also delivers tools for analysing trading patterns and for pre-trade decision support. The new company will also offer DataShop and private cloud functionality to help trading venues promote their unique data sets.
Leila Fourie, JSE Group CEO, said, “All trading venues understand the need for a market data business adjacent to the core mission of providing high quality markets. Innovative data analytics solutions form a major component of the future growth in this multi-billion dollar sector. big xyt ecosystems will empower our peers in other financial centres to develop this opportunity.”
Robin Mess, CEO and Co-founder of big xyt, added; “Trading venues can rapidly realise additional revenue streams by leveraging their unique datasets without making heavy investments in new technology. For market participants, this offers greater accessibility to data analytics for firms of all sizes as there is no longer the need to develop such capabilities in-house.”
big xyt ecosystems is an equal investment by the partners, who combined bring substantial capabilities to the trading venues marketplace. The new company will benefit from big xyt’s technology stack and considerable experience of providing these solutions to the market, while the JSE brings the innovative culture that resulted in the Trade Explorer concept, proven use cases from its own marketplace, and an extensive peer network within the global exchange community.
About the Trade Explorer
The Trade Explorer is a new concept for data analytics in the exchange space, whereby the exchange provides data analytics directly to their membership, corporate issuers and other market users (their ecosystems) through a white labelled platform to improve the services its member firms can offer to their clients.
Using unique peer group rankings, trading firms can explore their market share, examine how they interact with the order book, and view their trading performance. As well as enhancing management oversight, the tools enable client-facing staff to discover highly granular information about their trading flows and identify competitive advantages. Product managers can use the service to help improve their algorithms and trading strategies.
As the tools are fully hosted and web-based, the service is delivered directly to users’ desktops, making it highly accessible without the need for IT integration or support by end users.
Users of the service
- Management - can monitor and review business performance over time in terms of the evolution of their volumes and market share.
- Client-facing sales and sales traders - can use the information to highlight their strengths in providing liquidity to their clients and support them in the trading process.
- Product managers - can use the service to help improve their algorithms and trading strategies.
- Compliance staff - can augment their existing monitoring and control systems using the analytics provided.
- Corporates - the services can also be used by listed company treasurers, e.g. when they are involved in buy-back transactions, and by investor relations to help understand how the company’s shares are trading in comparison to the sector and other listed names.
About the JSE
The Johannesburg Stock Exchange (JSE) has a well-established history operating as a regulated marketplace for trading listed securities. The JSE is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for over 134 years.
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About big xyt
big xyt’s independent analytics tools provide unrivalled data accuracy and enable users to transform data into decisions and to observations for their audience.
big xyt has created a global ecosystem for tick data analytics covering more than 120 trading venues, across equities, ETFs, FX, and listed derivatives (futures and options). Our clients include major global investment banks, asset managers, leading exchanges and trading venues, ETF issuers, and regulatory bodies.
big xyt’s unique private cloud-based technology normalises trade conditions of venues allowing accurate and transparent aggregations of trading volumes, comprehensive analysis, and delivery of results in flexible and customisable formats. Our APIs support more in-depth quantitative research and feed dependent systems such as algorithms and decision support tools, essential for data science and quant teams.
Firms across the financial services industry choose big xyt as their data analytics partner due to its independence and ability to provide the best quality normalised data, our capability to deliver complex security and execution analytics in sophisticated and data-rich financial markets, as well as the in-depth domain experience and agile responsiveness of the big xyt team in setting up, running and maintaining data analytics environments for tick data in highly secure environments.