Plato Partnership and BMLL Technologies have launched Platometrics, a new market quality metrics tool, to provide market participants with a complete picture of trading data and trends from European venues, entirely free of charge.
According to the announcement, all metrics are available on a transaction date plus one day basis with up to six months of historical data, and cover European equities and equity like instruments, including Shares, ETFs, DRs, and Certificates. The interface provides access to consolidated data from across Europe as well as multiple metrics by market, venue or specific security. All market participants are granted free access, including portfolio managers, traders, compliance analysts and risk managers, as well as quant researchers, regulators and academics.
The European equities marketplace will benefit from the team-up between the non-profit firm and the data engineering and analytics firm as users will be able to experience:
– A consolidated overview of liquidity from across Lit, Dark/Grey, Bilateral and Non-Addressable trades;
– The European best bid offer (EBBO) across exchanges at any specific point in time; and
– A range of market quality metrics on a large range of instruments for individual stock analysis and by venues for performance comparison purposes including (but not limited to) market impact, intraday volatility, order fill rates, average resting time of orders, percentage presence time at EBBO and trade-order ratio.
Mike Bellaro, CEO of Plato Partnership, said: ”Plato Partnership is committed to giving something back to the marketplace, and Platometrics will open a wide range of information to market participants who were previously locked out by impenetrable complexity of data and high costs. Whilst trading data from different venues is available, it is disparate and spread across multiple platforms for different exchanges and regions. This makes it challenging to compare and assess disparities and variations between different parts of the marketplace. Platometrics offers the first viable solution to this market-wide challenge, and we are delighted to be able to offer this tool to all participants, free of charge.”
Johannes Sulzberger, CEO of BMLL Technologies commented: “BMLL is very excited to be collaborating with the Plato Partnership, bringing clarity and insight into the complexity of European markets for the first time. Platometrics represents a step-change in the analytics deployed within Europe and we are pleased to be able to provide simple answers to the core challenges faced by market participants, namely; addressable liquidity, cross-venue price formation and execution quality. BMLL provides the data, analytics & compute to be the single source of truth around the consolidated European liquidity landscape, the consolidated best price across venues and execution metrics for different venues and securities.”
Platometrics helps market participants improve best execution and understand liquidity sourcing and price forming dynamics. The scope of the platform also improves analysis of market quality and discussions of policy and strategy.