Complex event processing (CEP) solutions vendor Aleri has launched an upgrade to its liquidity analysis tool that will allow clients to view equity prices across Europe’s multilateral trading facilities (MTFs) and exchanges.
The Aleri Market Liquidity Analysis (MLA) engine is typically used by market participants to run automated analytics against a consolidated market view across multiple venues, either to drive trading strategies or perform smart order routing.
Version 3.0 offers consolidation of ‘level 1’ data to produce market quotes containing last trade, best bid, best offer and other summary data across all execution venues. Combined with the ability of users to select venues and symbols for consolidation, this new feature will allow traders in the European equities market to view share prices offered on Europe’s widening range of trading venues. Earlier this month, Equiduct became the latest lit venue to open for business, joining MTFs Chi-X, Turquoise, NYSE Arca Europe, BATS Europe and Nasdaq OMX Europe.
“Aleri originally launched MLA in direct response to the increased need for tools that could analyse full market depth. As markets become more volatile, a growing number of firms are seeking a complete view of the market,” said Don DeLoach, CEO of Aleri, in a statement.
The Aleri MLA engine is implemented on the firm’s CEP platform to enable customisation of the consolidation rules and analytics in a ultra-low-latency, scalable and robust environment, Aleri said.