SIX Swiss Exchange has joined big xyt’s analytics hub in a bid to help traders develop, backtest and evaluate trading and execution strategies.
Traders will gain access to big xyt’s full market depth data sets for various use cases including spread analytics or calculating market depth, backtesting of trading and execution and fulfilling best execution requirements.
The hub - first launched this month - is currently connected to more than 100 trading venues globally across asset classes.
It allows the trading community to integrate tick data and analytics in a more cost-effective way through a single API, big xyt said.
Marc Berthoud, head data strategy at SIX Swiss Exchange, explained the exchange house currently operates the reference market for Swiss equities, and so considers consistent order book quality measurements a vital contribution to market transparency.
“big xyt services will help brokers, algorithmic traders, buy-side firms and academics build a strong view over liquidity pooling efficiency,” he said.
Robin Mess, CEO at big xyt, added: “Easy and cost-effective access to high quality data carry out market impact analysis is key to optimising trading and execution strategies and driving performance.”