Global exchange group Nasdaq OMX has launched Market Replay Europe, a tool that allows market participants to replay and analyse equity trading activity across 17 European venues in simulated real time. The group already offers the service in the US market.
Market Replay Europe provides intra-day and historical replays and analysis of European equities trading. According to Nasdaq OMX, the tool gives participants access to a complete view of the market activity in a particular share, down to the millisecond, during the requested replay period. Users are able to review and analyse every reported trade along with the corresponding best bids and offers.
The tool also offers a customisable zoom feature to view events at the millisecond level. Nasdaq OMX said traders and compliance officers would also be able to analyse whether trades achieved best execution and other standard-based requirements.
Market Replay Europe is available to all market participants including institutional and retail investors, professional and non-professional traders and compliance officers.
“With Market Replay Europe, users can discover exactly how orders interacted with the market down to the millisecond at which the trade occurred, all in an easy-to-use visual tool,” said Nasdaq OMX executive vice president Adena Frieman in a statement.
The 17 trading venues covered by the service comprise: the Nasdaq OMX exchanges in Copenhagen, Stockholm and Helsinki; the group’s Nasdaq OMX Europe multilateral trading facility and its peers BATS Europe, Chi-X Europe, Turquoise and Burgundy; the four NYSE Euronext markets (Amsterdam, Brussels, Lisbon and Paris); Borsa Italiana; the London Stock Exchange; the Frankfurt Stock Exchange; Oslo Børs; and the blue-chip segment of SIX Swiss Exchange.
Trading technology firm and agency broker Neonet will provide Nasdaq OMX with the consolidated data feed for Market Replay Europe.