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A-Team Insight Blogs

big xyt Addresses MiFID II Concerns with Liquidity Cockpit Dashboards

Analytics platform provider big xyt has added a set of dashboards to its Liquidity Cockpit that are aimed at discovering high-quality liquidity within the new MiFID II liquidity landscape. The additions take into account the mandatory Systematic Internaliser (SI) regime, introduced on September 1, 2018.

Users of the new visualisation dashboards are able to view and compare reported SI volumes, which can then be filtered by adjusted conditions or analysed by time, by region, or by symbol. Users can also adjust SI volumes and the range of enquiry options and filters available, giving them a more comprehensive view of total reported SI flow. This can facilitate comparisons with other market activity such as Large-in-Scale (LIS) trades and the impact of Double Volume Caps (DVCs) on liquidity dispersion over time.

According to big xyt CEO Robin Mess, the new dashboards are the result of a collaboration with clients and analysts keen to find liquidity in the MiFID II environment.

Mark Montgomery, director of strategy and business development at big xyt, says the dashboards’ capabilities are aimed in part at shedding light on ‘previously hidden trends [that] are emerging over the year since MiFID II was introduced. In particular, Systematic Internaliser volumes above and below Large in Scale look very different to the overall SI volume during 2018’.

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