Data vendor Thomson Reuters is now offering a service that provides equities trade data at T+1, or the next business day, for individual stocks or stocks that make up popular indexes or ETFs on a near global basis.
The service, dubbed Equity Market Share Reporter – EMSR – gathers stock information, such as volume per venue, price and trade size, from all major equity exchanges, alternative trading venues, dark pools, and other over-the-counter reporting services, according to Andy Allwright, European business manager at Thomson Reuters. The service then calculates the percent of the stock that trades in all trading venues.
This provides users with transparency on where a stock or underlying index stock is trading and enables a user to target his orders accordingly. He said this can be valuable to users trading in less liquid stocks or in distant markets.
"We originally brought this out due to the growing amount of fragmentation in the Euro markets, but have expanded it to the U.S.," said Allwright. "It offers full visibility into the equity trading market, thus enabling users to accurately reference company market share or year-on-year trends."
With EMSR, Thomson Reuters’ market data coverage is presented in the form of graphs, charts and tables, so users are able to view the data at a glance. The data is also customizable, allowing users to filter information that is most relevant to their needs.
"We offer the data objectively – we have no broker-dealer interest in where orders are executed or where they are routed," Allwright added.
EMSR currently has 20 firms subscribing globally with the majority in Europe and a handful in both the Asia Pacific and North American regions. Thomson Reuters also plans to provide equities data from Latin American exchanges in the near future.
