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The integration of Nasdaq Market Replay will take the analytics one step further by allowing clients to click on a trade exception to view the full market context, noted the release. This includes all quotes, trades and consolidated (best bid and offers) NBBO in the market around the execution, plus the ability to visually zoom in and out and navigate forward and backwards in time to better understand surrounding market activity.
"With increasing regulatory scrutiny, the demands of best execution monitoring are growing. Our goal is to make the compliance workflow as comprehensive yet simple for our clients as possible," stated Miftah Khan, global head of transaction analytics at Thomson Reuters. The partnership with Nasdaq OMX, will allow Thomson Reuters to complement its rigorous best execution analytics with the deep market analytics available via Market Replay, added Khan in the release.Nasdaq Market Replay is an in-depth trading and compliance tool, in that it provides access to intra-day and historical Nasdaq-validated data and tools to replay and analyze the market for securities listed on all major U.S. equity markets. Market Replay lets users view the consolidated top-of-book at any point in time as well as the top of file for each exchange, replay the market in simulated real-time or at an accelerated/decelerated speed.
In a statement, Randall Hopkins, SVP, Nasdaq OMX Global Data Product, said, "Nasdaq Market Replay provides a complete view of the market activity in a particular stock — down to the millisecond — and it underscores our commitment to helping market participants fulfill their best execution obligations. The collaboration with Thomson Reuters will bring innovation and increased transparency to the markets, according to Hopkins, in the release.
