Data and analytics solutions provider big xyt has partnered with the Johannesburg Stock Exchange (JSE) to launch big xyt ecosystems. This will grant global financial centres access to the Trade Explorer data analytics platform, initially launched in South Africa earlier this year.
Trade Explorer allows trading venues to distribute data analytics solutions to information services customers, with solutions directly delivered to end users through web-hosted services and under a sponsorship venue’s branding.
Using the platform’s analytics tools, clients are able to better understand market liquidity and flows, market share, business concentration and execution performance, the company says. Trading patterns and pre-trade decision support services are also provided. These provisions will reduce time to market and the cost of ownership, big xyt says.
Leila Fourie, JSE Group CEO, says: “Innovative data analytics solutions form a major component of the future growth in this sector. big xyt ecosystems will empower our peers in other financial centres to develop this opportunity.”
Robin Mess, CEO and co-founder of big xyt, comments: “Trading venues can rapidly realise additional revenue streams by leveraging their unique datasets without making heavy investments in new technology. For market participants, this offers greater accessibility to data analytics for firms of all sizes as there is no longer the need to develop such capabilities in-house.”
