Burgundy, the Nordic multilateral trading facility, is distributing ”Liquidity Battlemaps' for Denmark, Finland, Norway and Sweden, which are designed to help trading firms manage execution across these fragmented markets.
The offering, made in conjunction with the LiquidMetrix service of software and market data provider Intelligent Financial Systems (IFS), gives basic equity market share figures, market quality statistics such as bid/offer spreads, order book depths and the percentage of time for which particular venues offer best prices.
Sabine Toulson, managing director at IFS, said that she hoped LiquidMetrix Battlemaps would help identify where opportunities for price improvement and additional trading liquidity exist.
“LiquidMetrix offers a great tool for the Nordic firms to use when analysing post-trade statistics and this can help firms to improve their best execution strategy,” added Olof Neiglick, CEO of Burgundy.
Burgundy has also published Swedish market share figures in cooperation with data provider Thomson Reuters, which showed that 42% of Swedish equity trading took place on alternative marketplaces in February 2011. The figures put Burgundy's own share in Swedish equities stood at 4.4% in February 2011.
The MTF has plans to operate its market as an exchange, allowing the venue to offer trading in derivative instruments, for which it received regulatory approval in January 2011.