Aquis Concentration Analytics
Aquis Concentration Analytics
Aquis Concentration Analytics
Aquis Concentration Analytics (ACA) measures how liquidity is distributed across the order book for each Aquis-listed equities, helping users quantify concentration vs. dispersion at and around the top of book. Metrics are intended for market quality monitoring, venue insights, and strategy research (e.g., assessing depth distribution and resiliency), measured by the Herfindahl-Hirschman Index (HHI). SIX Market Signal delivers this product as a historical analytics dataset with daily updates, ready for dashboards and quantitative workflows.
Free Historical Trial Data prospective clients may benefit from a free trial of Aquis Concentration Analytics historical data before onboarding the T+1 product. The historical trial dataset is refreshed quarterly on a rolling basis and maintains a minimum three-month delay from the current date. For complimentary access to the historical trial dataset, please contact marketsignal@six-group.com.
Product Guide
Ordering the trial data or T+1 Products
- Signed SIX Analytics Agreement: For the trial data and/or the Analytics T+1 Product the signed Analytics Agreement is required.
- SIX Analytics General Terms and Conditions
- Order Form: Filled out order form
- Affiliate List: Subsidiaries, and any holding company of the User and any Subsidiary of such holding company. For the purpose of this definition, a subsidiary means a company in which the Distributor owns directly or indirectly more than 50% (fifty percent).
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Use Cases
Member concentration monitoring on Aquis, market-quality and venue surveillance, best-execution analysis, identifying instruments dominated by a few members, comparing customer vs. non-customer and aggressive vs. passive concentration, and quantitative research on pan-European equity trading.
Highlights
Pairs naturally with Aquis Flow Analytics.
Provider
Methods
https://api.marketsignal.six-group.com/v1/data/CORE/AQ_HHI_ANALYTICS?token=<your token>https://api.marketsignal.six-group.com/v1/data/CORE/AQ_HHI_ANALYTICS/:isin?token=<your token>https://api.marketsignal.six-group.com/v1/data/CORE/AQ_HHI_ANALYTICS/:isin/::mic?token=<your token>- https://api.marketsignal.six-group.com/v1/data/CORE/AQ_HHI_ANALYTICS/CH0038863350
- https://api.marketsignal.six-group.com/v1/data/CORE/AQ_HHI_ANALYTICS/CH0038863350?from=2026-07-01&to=2026-07-31&format=csv
Time Series Query Parameters
You can use any time series query parameters with this dataset.
View the full documentation →
Response Attributes
| Key | Type | Description |
|---|---|---|
isin* key | string | ISO 6166 International Securities Identification Number of the instrument. |
mic* subkey | string | Market Identifier Code (ISO 10383) of the trading venue. |
date* index | string | Trading date the metrics are computed for (YYYY-MM-DD). |
| trade_date | string, null | Trading date the metrics are computed for (YYYY-MM-DD). |
| currency | string | Trading currency of the instrument (ISO 4217). |
| group | string | Instrument/trading group the security belongs to. |
| hhi | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members. Higher values indicate more concentrated activity. |
| hhi_buy | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over buy-side volume. Higher values indicate more concentrated activity. |
| hhi_sell | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over sell-side volume. Higher values indicate more concentrated activity. |
| hhi_aggressive | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over aggressive (liquidity-taking) volume. Higher values indicate more concentrated activity. |
| hhi_passive | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over passive (liquidity-providing) volume. Higher values indicate more concentrated activity. |
| trade_volume | integer | Total executed volume for the instrument on the day. |
| aggressive_trade_volume | integer | Executed aggressive (liquidity-taking) volume. |
| passive_trade_volume | integer | Executed passive (liquidity-providing) volume. |
| customer_trade_volume | integer | Executed volume attributed to customer (client) flow. |
| noncustomer_trade_volume | integer | Executed volume attributed to non-customer (proprietary) flow. |
| hhi_aggressive_buy | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over aggressive (liquidity-taking) buy-side volume. Higher values indicate more concentrated activity. |
| hhi_aggressive_sell | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over aggressive (liquidity-taking) sell-side volume. Higher values indicate more concentrated activity. |
| hhi_customer | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members for customer (client) flow. Higher values indicate more concentrated activity. |
| hhi_customer_buy | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over buy-side volume for customer (client) flow. Higher values indicate more concentrated activity. |
| hhi_customer_sell | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over sell-side volume for customer (client) flow. Higher values indicate more concentrated activity. |
| hhi_noncustomer | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members for non-customer (proprietary) flow. Higher values indicate more concentrated activity. |
| hhi_noncustomer_buy | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over buy-side volume for non-customer (proprietary) flow. Higher values indicate more concentrated activity. |
| hhi_noncustomer_sell | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over sell-side volume for non-customer (proprietary) flow. Higher values indicate more concentrated activity. |
| hhi_passive_buy | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over passive (liquidity-providing) buy-side volume. Higher values indicate more concentrated activity. |
| hhi_passive_sell | float64 | Member-concentration Herfindahl-Hirschman Index of trading concentration across members computed over passive (liquidity-providing) sell-side volume. Higher values indicate more concentrated activity. |
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