Best data analytics provider/vendor—big xyt

Product overview—Liquidity Cockpit and Open TCA suite

big xyt offers the financial services industry a global ecosystem for tick data analytics, covering more than 120 trading venues across equities, exchange-traded funds, foreign exchange and listed derivatives. The firm’s private cloud-based technology normalizes venues’ trading conditions, allowing accurate and transparent aggregations of trading volumes, analysis and delivery of results in flexible and customizable formats. These include web-based dashboards, an application programming interface, file delivery and intraday notifications.

Recent milestones

• In October 2023, big xyt unveiled a real-time data analytics service for a high-quality and normalized dataset of European trades and European Best Bid and Offer benchmark prices. Developed in collaboration with a large US-headquartered investment manager, and leveraging big xyt’s proprietary European tape, it captures billions of messages each day and processes data in less than one second. 
• In December 2023, big xyt launched a portfolio liquidity analysis solution in partnership with London-based investment manager, Baillie Gifford, allowing asset managers to generate accurate and transparent views of the liquidity within their portfolios.

Future objectives 

• Further enhancements to big xyt’s real-time, pre- and post-trade analytics.
• Further expansion of the firm worldwide, with products and services that address clients’ specific needs in each region.
• The firm will continue to add new markets to its Liquidity Cockpit offering for bespoke client evaluations in other international markets.

Secret sauce 

• big xyt’s ability to deliver complex analytics across data-rich financial markets, and hosted in its own private cloud, ensures clients do not need to subscribe to external cloud providers. 
• The firm’s clients can perform their own data analysis and derive the required insights without the need for large overheads. 
• big xyt is 100% independently owned – it has not received any external investment, which means there is minimal potential for conflicts of interest.

Why big xyt won 

big xyt made a bit of history this year by winning its first ever WatersTechnology award. And what a category to win: this year’s Best data analytics provider/vendor category received more entries than any other, making it, statistically, the most difficult category of all 28 to win. Having access to large reams of complex market data doesn’t in itself provide market participants with any tangible benefits. It is only when they are able to interrogate that data and, crucially, identify the hidden signals within it and understand what those signals mean, that genuine value can be realized. This is where big xyt excels, allowing its clients to make the most judicious, transparent and repeatable business and investment decisions, and, by doing so, providing themselves with a competitive advantage over their peers. WatersTechnology’s readers will no doubt hear a lot more about big xyt in the coming months and years.

What’s in a name?

big xyt is a name that some in our industry may not (yet) be familiar with. It’s also an unusual name for a capital markets technology firm, although its origin makes sense: big stands for big data; x and y are variables that represent the firm’s analytics focus; and t stands for time. Looking at a single event in isolation is only one page in a story, according to the Frankfurt-based firm. It is only when we combine the pages and chapters (of the story) that the full narrative emerges, which, in many respects, is what data analytics is all about.