Plato Partnership Collaborates with BMLL Technologies to Provide Free European Equity Market Quality Metrics to Market Participants

Plato Partnership Collaborates with BMLL Technologies to Provide Free European Equity Market Quality Metrics to Market Participants
04.06.2019 09:11 am

Plato Partnership Collaborates with BMLL Technologies to Provide Free European Equity Market Quality Metrics to Market Participants

Trading Systems

Plato Partnership, the not-for-profit company bringing creative solutions and efficiencies to today’s equity marketplace, is pleased to announce that they are collaborating with BMLL Technologies to provide twelve daily T+1 market quality metrics to enable more transparency and information across the trading landscape in Europe.

This initiative with BMLL will allow market participants access to metrics that will help improve their execution and implementation processes and ultimately improve results for the end investor.

The objective of this collaboration is to improve the overall quality of market transparency, focusing particularly on buy-side participants. This initiative will also provide regulators and policymakers with key information on trading behaviour that is not readily available in order to aid them in making or considering market structure related changes.

The metrics will be accessed via a secure dashboard, where participants can register free of charge to view consolidated volumes for a single stock, aggregate of all stocks or by closing auction (for relevant venues) across all venues. The dashboard will also comprise basic analytics capabilities, allowing market participants to drill down to show metrics by venue, allow a time series over the course of a trading day for certain metrics and comparisons against historical periods, other stocks, sectors and indices.

The product’s scope is Equities and Equity-like instruments (Shares, ETFs, DRs, Certificates) and definitions and basic calculation logic of each metric will be available to users.

Daily metrics will be available to market participants on a T+1 basis and will include (but are not limited to):

  • Addressable versus non-addressable liquidity across venues,
  • EBBO at any given point in time,
  • Closing Auction metrics
  • Intraday volatility
  • Trade-quote ratio over a trading day

Part of this project with BMLL will involve creating industry standards and definitions designed to help provide answers for some of today’s biggest questions, such as classification of addressable and non-addressable liquidity across venues.

The delivery date for the metrics to market participants will be later in 2019.

Mike Bellaro, CEO, Plato Partnership, said:

“Plato is delighted to be working with BMLL in providing metrics that will provide market participants with sophisticated metrics which provide a view of liquidity and execution quality on a consolidated T + 1 basis.

“We started Plato with a clear mission statement: to give something back to the marketplace and improve the market for end investors. This partnership with BMLL is a huge step forward in realising this mission. In facilitating the data provision, particularly for buy-side participants and regulators locked out by high costs, we hope to improve access to information crucial in moving the market forward.”

Ben Collins, Head of Sales, BMLL:

“BMLL is excited to be providing market participants with access to our data provision and analytics capabilities. Broadening access and facilitating improved research on the buy-side and for regulators is core to our company values: we want to expose and interpret data allowing market participants to make more informed decisions.”

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