The JSE Trade Explorer will be one of the first offerings resulting from a partnership between the Johannesburg Stock Exchange (JSE) and big xyt, a global independent provider of smart data and analytics solutions.
The joint venture entails the formation of a new company: big xyt ecosystems. big xyt ecosystems will deliver the innovative Trade Explorer data analytics solution to global stock exchanges and their ecosystems.
In May 2022, the JSE and big xyt announced that they would be collaborating to launch an analytics offering, aimed at trading participants of the exchange’s cash equity and ETF markets (including the exchange members and their clients, and issuers).
The new platform enables trading venues to distribute data analytics solutions to customers in their respective ecosystems. The service is delivered directly to end users through hosted web services which supports rapid time to market and lower costs. It provides sophisticated analytics tools that enable users to understand market liquidity, quality and flows, market share, business concentration, execution performance, and tools for analysing trading patterns and for pre-trade decision support.
Leila Fourie, JSE Group CEO said, “Exchanges globally understand the need for a quality and user-friendly market data offering. Our analytics solutions will further entrench the JSE’s position as a centre of innovation for financial markets on the African continent and beyond. The collaboration with big xyt also marks an exciting step in our information services strategic journey, supporting growth through innovation.”
Robin Mess, CEO of big xyt, said; “Trading venues can rapidly realise additional revenue streams by leveraging their unique datasets without making heavy investments in new technology. For market participants, this offers greater accessibility to data analytics for firms of all sizes as there is no longer the need to develop such capabilities in-house.”
big xyt ecosystems is an equal investment by the partners, who combined bring a substantial capability to the trading venues marketplace. The new company will benefit from big xyt’s technology stack and considerable experience of providing these solutions to the market, while the JSE brings the innovative culture that resulted in the Trade Explorer concept, proven use cases from its own marketplace, and an extensive peer network within the global exchange community.