Montreal, October 13, 2019 —TickSmith announced that its Marketplace Advanced Insights is providing insight into how Nasdaq Basic Canada works in the marketplace. Market participants using Nasdaq Basic Canada can utilize TickSmith data to better understand at a granular level how the product is helping them achieve their goals.
“This new level of analytics against both top of book and market depth enables market participants to easily measure their performance against their peers using the platform’s web dashboard and data access tools,” says Marc-André Hétu, TickSmith Chief Product Officer.
“Nasdaq is dedicated to making Canadian markets more efficient, more accessible and more affordable, and Nasdaq Basic Canada is a large part of that effort,” said Dan Kessous, Vice President of Product Development and Head of Nasdaq Canada. “Our work with TickSmith provides essential Nasdaq Basic Canada analytics that allows users to track market activity by firm, trading venue, instrument, or any combination to evaluate market liquidity. In addition, NBBO metrics let us evaluate the trading efficacy and liquidity of all venues in Canada.”
TickSmith’s Marketplace Advanced Insights is used by trading venues to gain insight on member participation and adapt business strategies to attract market flow. Market Makers also use insights to ensure market participation activity is in line with trading strategies. Advanced Insights is an analytical module of TickSmith’s award-winning enterprise cloud software for managing and leveraging data at scale.
Nasdaq Basic Canada allows users to consume Level 1 market data from Nasdaq CXC, CX2 and CXD trading books in a single market data feed. Nasdaq Basic Canada combines the data from the three books into an easy to consume format, saving firms the cost of stitching these together. The benefits are similar to Nasdaq Basic U.S., which provides investors with access to the full range of U.S. equities at significant cost savings to incumbent providers.
TickSmith has been specializing in big data technology since 2012 and believes the increase in quantity and variety of data is a once-in-a-generation change in Capital Markets infrastructure requirements. TickSmith’s solutions provide cloud-based, ready to use data workflow, management, analytics and delivery at scale and are used by leading financial institutions, exchanges and data providers.