Johannesburg Stock Exchange (JSE), the largest stock exchange in Africa, is the first bourse to come to market with a new information service from smart data and analytics provider big xyt.
Leveraging big xyt’s Liquidity Cockpit for security analytics, the new service uses peer group rankings to help trading firms explore their market share, examine how they interact with the order book, and view their trading performance. The tools should assist client-facing staff to discover new and granular information about their trading flows to improve their algorithms and update their trading strategies.
The platform, named JSE Trade Explorer, claims to be the first of its kind in the exchange space. It will be delivered directly to trading participants of the exchange’s cash equity and ETF markets (including the exchange’s members and their clients, and eventually issuers) under a white labelling arrangement.
“Our clients are increasingly aware of the importance of data analytics and are hungry for solutions that can deliver trusted and actionable support to their own bottom line. This is an opportune time to introduce this service to our clients, as we believe it will help our member firms to promote their competitive advantages and unique selling propositions,” said Mark Randall, director of information services at the JSE.
“The increase in the quantity and complexity of data globally is a major challenge for our members and broader participants, both in terms of the cost of development and the delivery to end users. We also know that every exchange has a unique dataset that helps participants to understand their competitive strengths, in terms of liquidity and trading quality. We set ourselves the challenge to make this dataset highly accessible, at an affordable cost and with very fast delivery,” he added.
“At the JSE we see the value that we can bring to our clients by providing high quality and readily accessible market data, particularly through modern cloud channels. We believe that this new service, in collaboration with big xyt, is an innovative but natural progression to providing trusted analytics.”
It’s been a big week for data platform launches. Yesterday, BMLL announced a new collaboration with pan-European equity trading exchanges operator Acquis Exchange to provide insights into market structure dynamics, including venue quality and liquidity dynamics; while on the fixed income side, Deutsche Börse this week partnered with Clearstream to launch a new bond liquidity data platform.