Analytics specialist big xyt launches large-in-scale liquidity tracker

Liquidity Cockpit uses tick data to aid in search for block liquidity.

A data analytics specialist has launched a tool to track large-in-scale (LIS) trading activity to help market participants find liquidity in the post-MiFID II world.

big xyt, which has been providing data analytics to banks, clearing houses and trading venues since its founding three years ago, has today launched the Liquidity Cockpit to help buy-side traders get better visibility of dark and lit liquidity.

Restrictions on trading in the dark are expected to increase the reliance on trading under the LIS waiver, which is exempt from MiFID II’s dark trading caps. The caps are seen as being so onerous that a significant portion of stocks that make up major indices like the FTSE 100 will not be tradeable in the dark for a period beginning in January 2018.

The Liqudity Cockpit will provide a normalied view of trading in tick granularity across Europe’s markets, capturing trades from venues and reporting facilities. Data can be downloaded or processed by visualisation and analytics tools to help the trader better investigate market activity.

Robin Mess, CEO of big xyt, said: “We have set out to build the tools necessary to navigate a data and analytics driven trading environment. We look forward to expanding our collaborations with the industry at large, as we envisage the Liquidity Cockpit becoming an invaluable asset to heads of trading and their teams, for both buyside and sellside firms as well as trading venues.”