Thomson Reuters (NYSE:TRI) has introduced Intraday Market Share Reporter (iMSR), a solution designed to enable traders to quickly find and analyze liquidity by individual stocks across multiple venues. With an intraday view of market flows, iMSR helps improve trading capabilities and analysis by providing fuller transparency of market trends and the ability to assist in predicting the future direction of liquidity.
With iMSR, traders can locate and analyze the liquidity for the individual stock they are trading by providing a summary of intraday volume, turnover and trade count across venues compared with a customizable selection of daily averages. iMSR covers equities, equity-linked instruments, and ETFs. This tool allows traders to view, benchmark and analyze stocks against different historical averages, with an eye toward assisting a future choice of venue execution.
Changing regional and global regulations in the financial markets is leading to liquidity becoming more fragmented, making it more challenging for trading professionals to find and evaluate relative liquidity across different venues. This makes having an intraday liquidity tool more important as a way of identifying where trading liquidity has been and may likely be in the future.
The challenge of finding current and predicting future liquidity is top of the mind for our trading customers, and this challenge will likely only grow as new regulations come into place,” said Phil DeFranceso, head of trading desktop, Thomson Reuters. “By offering an intraday liquidity solution, we are empowering our trading customers with another tool to help them gain an edge in a competitive marketplace. It furthers our commitment to delivering a powerful, integrated and comprehensive set of trading workflow solutions to the financial community.
iMSR utilizes the Thomson Reuters Trade Classification (TRTC), which normalizes all trade types from 150+ trading venues into one of eight categories. This allows traders to compare global trading activity across multiple trading venues, analyzed and monitored in a single view.