Subscription-based pan-European equities exchange Aquis has adopted the Liquidity Cockpit platform from data analytics specialist big xyt to support market structure analytics both internally and for its clients.
The Liquidity Cockpit solution captures, normalises, collates and stores trade data at a high level of granularity, applying data science and advanced techniques to execution analytics to deliver both market overviews and individualised comparison reports. Delivered through a custom API, it enables the user to query a substantial data set, personalise the results, and then download and review through interactive dashboards.
“big xyt’s unique approach to data analysis allows us the control and flexibility we require to understand and develop our competitive position within the wider European landscape data,” notes Aquis COO Jonathan Clelland.
It’s been a good year for Aquis Exchange, even as the pandemic casts global markets into chaos. Earlier this month, the firm announced that it neared break-even in 2019, despite the coronavirus crisis slowing the growth of new customers in recent months, with its market share in pan-European stocks rising from 3.8% in 2018 to 4.6% in 2019 – and although the firm still made a reported operating loss of £200,000, this was down 93% on the previous year. The company is planning a major £1 million investment in its technology staff this year, according to CEO Alasdair Haynes, which could delay profitability until 2021, but still expects its client base to hit 40 in 2010 (from 30 in 2019), with a target market share of 10%.
The Aquis deal is another achievement for big xyt, and follows hot on the heels of its deal with European agency broker Kepler Cheuvreux back in February to provide execution analytics and transaction cost analysis. It will be counted as the first feather in the cap for newly appointed Richard Hill, the creator of Societe Generale’s equities electronic trading business, who joined the firm at the end of March as Head of Client Engagement with the goal of driving forward client engagement.
““The investment industry is undergoing rapid and fundamental change, driven by greater passive investment, falling fees and more regulation. I see scalable, high performance technology and data driven automation as the key to survival and success,” says Hill.