Data and analytics specialist big xyt has expanded its flagship liquidity tracker tool with the addition of liquidity metrics for the ETF market.
Developed using reference data sourced from ETF composition data provider Ultumus, the upgraded system aims to give users a navigation tool for the fragmented ETF market through key metrics for market share and quality.
The Liquidity Cockpit platform will now cover 7,500 ETF listings across Europe, with liquidity comparisons across issuers, benchmarks and venues, time-weighted spreads, and additional data aggregations based on global daily ETF data from Ultimus.
The solution aims to provide greater transparency into the European cross-border ETF market, where fragmentation occurs due to widely varied spreads, through consolidated reporting of bid/offer spreads and volumes.
“This enhancement to our Liquidity Cockpit suite of solutions to include ETFs follows our recent addition of a Double Volume Cap (DVC) dashboard and demonstrates the ability of our team to innovate to meet the needs of our clients,” said Mark Montgomery, business strategist at big xyt.
Big xyt added data on DVCs under MiFID II in mid-September, allowing users to examine the changes at each of the seven review dates, review patterns of liquidity shifts for suspended and for lifted stocks, and analyse the impact by trade categories including dark or periodic auctions.
All our product enhancements are as a result of extensive discussions with clients and potential users about their requirements and we take great pride in providing solutions to their challenges,” commented Robin Mess, chief executive of big xyt.
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