Independent ETF liquidity intelligence.
Understand, manage, and demonstrate how your ETFs trade across fragmented markets.
ETF trading is fragmented across primary exchanges, MTFs, RFQ platforms, regional exchanges, and off-book liquidity pools — in Europe, the US, and increasingly across APAC. Most issuers only see part of the picture. xyt provides the data infrastructure to see the whole of it.
Trusted by 4 of the 5 largest European ETF issuers, with the same dataset extending across global ETF markets.
Coverage
The full trading landscape — in one dataset.
ETF issuers use xyt
across global ETF markets
trading history
the US, and APAC
What xyt Does for ETF Issuers
Two strategic functions, one platform.
Whether the work is investor-facing or internal, the same underlying data infrastructure supports it.
External Enablement
Communicate liquidity with credibility.
Give your distribution and sales teams independent, defensible analytics they can take into allocator conversations, RFPs, and platform reviews. Investors increasingly evaluate ETFs on tradability — not just TER or performance.
Internal Market Intelligence
Run the ETF ecosystem more effectively.
Give your capital markets team the visibility to manage liquidity proactively — across venues, listings, and market makers. The same data that supports distribution conversations underpins better operational decisions.
Core Use Cases
Six things your team can do — today.
Each grounded in the same independent, normalised dataset.
Distribution Story
Support Distribution with Independent Liquidity Analytics
Give investors, allocators, platforms, and sales teams credible liquidity and execution analytics across every relevant trading venue. Demonstrate how your ETFs actually trade — not just where they're primarily listed.
- Quoted and effective spreads
- On-screen depth and size at best
- Activity across lit, RFQ, and off-book
- Historical liquidity development
- Peer-group positioning
- Cross-venue mechanism analysis
Investors increasingly evaluate ETFs on tradability, not just TER or performance. Independent liquidity analytics help distribution teams communicate execution quality with confidence — in RFP responses, allocator conversations, and platform reviews.
Faster
Monitor and Improve Secondary Market Quality
Understand how your ETFs trade across venues, listings, and market makers — with the precision required to manage liquidity proactively rather than reactively.
- Market maker quoting behaviour
- Spread obligations and breach frequency
- Automated breach alerts
- Venue-by-venue liquidity quality
- Listing effectiveness over time
- Regime shifts in trading behaviour
Capital markets teams need accurate, near-real-time visibility to manage liquidity proactively. Market-maker management is one of the most direct levers issuers have over execution outcomes — and the only way to exercise it credibly is with independent measurement.
Don't React
Connect Primary and Secondary Markets
Combine fund flows, AuM, shares outstanding, and NAV data with secondary trading analytics — and see how the two halves of the market interact in real time.
- Investor demand vs mechanical rebalancing
- How flows impact spreads and depth
- Liquidity improvement and deterioration
- Market structure change effects
Primary and secondary market dynamics are deeply connected. A new allocation shows up in flows and on-screen liquidity. A redemption wave changes spread behaviour. Issuers who see both together anticipate rather than react — and make better listing, pricing, and distribution decisions.
Pay Off
Optimise Listings and Venue Strategy
Evaluate where liquidity is genuinely forming — and where listings create limited investor value. Make venue decisions based on actual trading evidence.
- Real trading activity by venue and region
- Regional exchange contribution
- RFQ vs lit execution behaviour
- Cross-listing effectiveness
- Historical venue trends
- Uneconomic listing detection
Listing decisions carry operational and commercial cost. Venue strategy should be based on actual trading behaviour, supported by analytics that cover where ETFs really trade.
Conviction
Evaluate New Products and Retail Distribution
Two related capabilities that inform what you launch — and how you position it.
- Basket analytics. Evaluate the underlying holdings of any ETF — existing or planned — including ADVT, spreads, volatility, and top positive and negative contributors. Model expected secondary market quality before committing to launch.
- Retail analytics. Identify retail trading volumes and venues. See which products trend with retail investors and how retail execution quality evolves over time.
Better product decisions before launch reduce post-launch surprises. Better visibility into retail flow aligns product strategy with actual demand — not just what worked for someone else last year.
Team's Time
Automate Reporting and Regulatory Outputs
Custom PDF reports, market trend packs, peer-group benchmarking, and standardised regulatory outputs — including PRIIPS transaction cost inputs and withholding tax reporting — all scheduled and delivered automatically.
- Market-maker performance packs
- Peer-group rankings and trend analysis
- Regulatory-grade data outputs
- Custom distribution-ready PDFs
- Automated breach and threshold alerts
- Dashboards and scheduled exports
Capital markets teams should spend their time on analysis, action, and distribution conversations — not on pulling and formatting data.
Why xyt
What sets xyt apart.
Three properties of the platform that determine whether the analytics on the page are usable in production.
01Complete Cross-Venue Coverage
Primary exchanges, MTFs, RFQ platforms, regional exchanges (including German venues), on-book and off-book activity. Meaningful ETF liquidity often exists outside a fund's primary listing — and capturing it requires venue coverage that matches how ETFs actually trade. xyt's dataset is built to reflect that reality.
02Independent, Trusted Analytics
Trade corrections, venue normalisation, late-reported trade handling, RFQ activity, regional exchange data. xyt normalises fragmented market data into a single coherent view. Trusted by 4 of the 5 largest European ETF issuers, with adoption extending to global ETF markets, banks, exchanges, and major data vendors.
03Flexible Integration
Dashboards, Python API, scheduled reports, automated alerts, SFTP/CSV delivery, AI-powered query tools. Designed to integrate into existing capital markets and distribution workflows — not replace them. Each part of the team works in the channel that fits.
Peer Group Benchmarking
When the conversation calls for it — an RFP response, an internal performance review, an allocator question — the same dataset supports peer-group comparison across the metrics that matter. A feature of the platform, not its purpose.
Compare by
- Benchmark
- Asset class
- Exposure
- Domicile
- Listing structure
Apply to
- RFP responses
- Distribution discussions
- Liquidity reviews
- Internal performance monitoring
See Your ETFs Through an Independent Lens
Request your liquidity intelligence report.
A personalised report for your product range — covering venues, mechanisms, market-maker performance, and peer-group context across the markets that matter to your business. No setup, no commitment.