The mission of the new company is to provide the innovative Trade Explorer data analytics platform, which was launched in South Africa earlier this year, to other financial centres around the world.

The platform enables trading venues to distribute data analytics solutions to their information services customers, including the trading firms, issuers and investors that comprise a finance ecosystem. The solutions are delivered directly to end users through web hosted services under the branding of a sponsoring venue, meaning rapid time to market and low cost of ownership.

Trade Explorer provides sophisticated analytics tools that enable users to understand market liquidity and flows, market share, business concentration, and execution performance. It also delivers tools for analysing trading patterns and for pre-trade decision support. The new company will also offer DataShop and private cloud functionality to help trading venues promote their unique data sets.

Leila Fourie, JSE Group CEO, said; “All trading venues understand the need for a market data business adjacent to the core mission of providing high quality markets. Innovative data analytics solutions form a major component of the future growth in this multi-billion dollar sector. big xyt ecosystems will empower our peers in other financial centres to develop this opportunity.”

Robin Mess, CEO and Co-founder of big xyt, added; “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 substantial capabilities 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.