big xyt has added SIX Swiss Exchange to its xyt hub for tick data distribution and analytics. The hub was introduced earlier this month with Bats signed up as its first exchange partner. SIX Swiss Exchange becomes the second and will offer tick data to its trading participants, enabling them to develop, evaluate and backtest new trading and execution strategies.
The xyt hub is connected to more than 100 trading venues through a partnership with Activ Financial and provides a single application programming interface (API), enabling traders to integrate tick data and analytics conveniently and cost effectively. It incorporates cloud based Data-as-a-Service and Analytics-as-a-Service functionalities allowing firms to consume, analyse and visualise all the data they need.
SIX Swiss Exchange’s connection to the xyt hub supports delivery of full market depth datasets to its trading participants for use cases including analytics, backtesting and best execution.
Marc Berthoud, head of data strategy at SIX Swiss Exchange, explains: “SIX Swiss Exchange operates the reference market for Swiss equities. We consider that consistent order book quality measurement represents a fundamental contribution to market transparency. big xyt services will help brokers, algorithmic traders and buy-side firms build a strong view of liquidity pooling efficiency. Our trading partners will also gain access to off-the-shelf advanced analytics.”