Key Takeaways
- • Stockholm-based hedge fund Lynx Asset Management has selected market data analytics provider xyt to deliver independent trading volume and liquidity analysis across global equity markets.
- • The engagement supports Lynx's expanding systematic equities business, giving the firm venue-level and intraday liquidity insight beyond end-of-day or aggregated trading statistics.
- • xyt's analytics will classify trading activity, including trade condition codes, deferred transactions and retail flows, and assess addressable volumes across lit venues, dark venues and systematic internalisers.
- • Andreas Johansson, co-head of systematic equities at Lynx, said the venue-level and time-of-day analysis is already sharpening the firm's liquidity modelling.
- • xyt CEO Robin Mess positioned the offering as explanatory analytics for systematic managers rather than raw market data.
Summary
Lynx Asset Management has selected xyt, a market data analytics provider, to deliver independent trading volume and liquidity analysis across global equity markets. The agreement supports the expansion of Lynx's systematic equities business. Founded in 1999, the Stockholm-based hedge fund invests systematically across equities, fixed income, commodities and currencies. As it builds out its equities capabilities, the firm sought market data more granular and consistent than conventional end-of-day figures or aggregated trading statistics can offer.
According to the announcement, the partnership will give Lynx a detailed view of how liquidity develops through the trading day across different venues and execution mechanisms. xyt's analytics will classify trading activity across markets, covering the treatment of trade condition codes and deferred transactions, the identification of retail trading flows, and the assessment of addressable volumes across lit and dark venues and systematic internalisers. The aim is a consistent, high-resolution view of intraday liquidity across Lynx's global equities universe.
Andreas Johansson, co-head of systematic equities at Lynx Asset Management, said information on where and when liquidity emerges is central to the firm's approach to systematic equity strategies. He added that xyt's venue-level and time-of-day analysis is already helping refine the firm's liquidity modelling.
Robin Mess, chief executive of xyt, said systematic investment managers need analytics that explain the nature and relevance of trading activity rather than simply supplying raw market data. He said xyt's expertise in market structure and its ability to deliver consistent liquidity analysis across venues and trading categories would support Lynx as its systematic equities business grows.
xyt describes itself as an independent trading analytics provider across global financial markets, using Level 3 data capabilities and real-time analysis at nanosecond precision. Its cloud-native platform processes billions of records daily and supports pre- and post-trade analysis as well as regulatory compliance, including under MiFID II. Lynx employs approximately 100 professionals across investment, quantitative research and technology, and has used machine learning in its investment process since 2011.
According to the announcement, the partnership will give Lynx a detailed view of how liquidity develops through the trading day across different venues and execution mechanisms. xyt's analytics will classify trading activity across markets, covering the treatment of trade condition codes and deferred transactions, the identification of retail trading flows, and the assessment of addressable volumes across lit and dark venues and systematic internalisers. The aim is a consistent, high-resolution view of intraday liquidity across Lynx's global equities universe.
Andreas Johansson, co-head of systematic equities at Lynx Asset Management, said information on where and when liquidity emerges is central to the firm's approach to systematic equity strategies. He added that xyt's venue-level and time-of-day analysis is already helping refine the firm's liquidity modelling.
Robin Mess, chief executive of xyt, said systematic investment managers need analytics that explain the nature and relevance of trading activity rather than simply supplying raw market data. He said xyt's expertise in market structure and its ability to deliver consistent liquidity analysis across venues and trading categories would support Lynx as its systematic equities business grows.
xyt describes itself as an independent trading analytics provider across global financial markets, using Level 3 data capabilities and real-time analysis at nanosecond precision. Its cloud-native platform processes billions of records daily and supports pre- and post-trade analysis as well as regulatory compliance, including under MiFID II. Lynx employs approximately 100 professionals across investment, quantitative research and technology, and has used machine learning in its investment process since 2011.
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