Liquidnet deploys big xyt analytics to monitor execution quality

Big xyt is providing Liquidnet’s execution analysts with access to its Liquidity Cockpit.

Liquidnet has extended its partnership with data and analytics specialist big xyt to monitor its execution quality and cross-check market volumes.

The deal means that Liquidnet has extended the use of big xyt’s Liquidity Cockpit platform, providing the firm’s execution analysts with an interactive application to monitor market data via the Liquidity Cockpit dashboard.

“It is important that we are able to validate venue quality and ultimately deliver best execution to our clients. Big xyt provides support with their complex market analysis capabilities,” said Joe Fields, execution analyst for global execution and quantitative services at Liquidnet.

Big xyt uses data science to capture, normalise, collate and store trade data. Its platform combines scalable analytics engines with interactive dashboards and API services. The Liquidity Cockpit dashboards offer a consolidated view of major regulated markets, multilateral trading facilities and systematic internalisers.

“We are delighted to be able to provide Liquidnet with the ability to interrogate and assess a consolidated view of their market position,” Mark Montgomery, head of strategy and business development at big xyt, said. “Recognising the benefit of outsourced independent, complex data analysis has freed up additional internal resources to concentrate on client focussed initiatives.”

Big xyt added that its data and detailed analysis is providing exchanges, sell-side institutions, industry bodies, analysts and the media to prove and compare execution quality, liquidity, spreads and costs.

Last month, Liquidnet confirmed that it had acquired institutional research marketplace and aggregator RSRCHXchange. The move was made to expand Liquidnet’s platform to provide clients with access to global market research.

RSRCHXchange’s technology, research and distribution will be combined with Liquidnet’s artificial intelligence-based analytics platform to allow buy-side firms to source, access and evaluate market insights.