About BMLL

BMLL allowed us to bypass the complex and costly process of obtaining data from exchanges. As a result, we could focus our efforts on conducting research to determine usefulness and relevance of data to our specific needs. Having immediate access to the data eliminated any delays that would have otherwise hindered our research efforts. By removing these barriers, our team could dive straight into analysing the data and extracting results.

BMLL has mastered the heavy lifting around the data normalisation process. Second, it's a neutral provider which makes our service even more credible, and it's a cost-efficient service from our perspective. Lastly, and I would say most importantly, BMLL provides excellent quality of support. Our clients can easily navigate fragmented markets. SIX gains immediate insight on the performance of the liquidity providers.

As Europe’s 7th largest exchange, we are constantly looking to enhance the liquidity and execution opportunities for our Members. By using BMLL Level 3 Data and advanced analytics we are now able to engage with our Members to compare their trading dynamics on our exchange versus their peer group and to demonstrate that Aquis offers superior trading outcomes for both passive and aggressive strategies. In addition, we are able to evidence our ability to consistently be present at the ‘European Best Bid and Offer’ (EBBO), regularly ranking in the top 2 across European exchanges.

We looked at a number of historical data vendors, and soon realised BMLL is in a class of its own. Accessing BMLL data now enables our clients to do strategy back-testing on high-fidelity data and execute using our real-time data. What sets BMLL apart is the way the data is sourced, saved and curated.

Optiver traders, quantitative researchers and developers rely on historical data to shape our pricing strategies, making data science and research a key part of our mission to improve markets. The high quality of BMLL's data, their advanced analytics tools and their best-in-class team have together significantly improved our ability to generate insights that influence our strategies. We believe these benefits can extend beyond our firm and provide substantial value to other market participants as well.

KCx Spark is the first module launched on KCx Omni, our next-generation, event-driven execution platform integrating algo engines, OMS, EMS, TCA analytics, portfolio optimisation, and IOI workflows. The new SOR also leverages advanced quant models and level 3 data from historical market data and analytics provider, BMLL Technologies, with the aim of enhancing algo performance.

In 2022, we selected BMLL as a partner. By leveraging BMLL’s order book analytics and advanced insights we better understand market microstructure and optimise our trading strategies. Clients will notice improved routing capabilities in the US and EU.

Marcos Carreira, PhD Candidate from the Quantitative Regulation chair at École Polytechnique, and I have worked with many different data providers, and the BMLL Data Lab is one of the cleanest historical data products we have seen. It is very easy to use, and the documentation and support are superb. The book reconstruction will be of great help, especially with all the interruptions to continuous trading that we have seen in the market.

Berenberg’s Data Science and Algorithmic Engineering teams draw on a multitude of sources, including partnering with BMLL, leveraging their Level 3 data to layer market event datasets with client trade data by linking unique order IDs via matching engine timestamps. Level 3 data draws insight into cancellations, amends, quote submissions, order queue details and unfilled orders. This allows Berenberg’s TIA to deliver a robust A|B testing environment across 5 years of market and trade data to efficiently optimise algorithmic performance.

The partnership between Berenberg and BMLL is about democratising access to Europe’s most comprehensive analytics engines and largest data lakes. Overlaying millions of child orders on top of billions of market data points no longer requires an army of quantitative researchers or data engineers. It’s about mapping complex relationships, standardising benchmarks, and giving all market participants, large and small, the chance to produce better outcomes for their clients.

Jefferies has teamed up with analytics provider BMLL Technologies and deploys cloud computing capabilities to carry out detailed analysis, allowing the team to understand on a granular level what happens to the order book when they trade passively or aggressively. We’ve been doing that analysis for a very long time, but it’s now at a far greater level of granularity. We can see which orders move when we cross the spread, for example, rather than knowing that some orders move. We can track those and see where they came from. It enables much smarter decisions, and using that within the algo constructions process is a huge priority for our team.

By partnering with the best content providers like BMLL, we empower firms to access the best, large scale content without the increasingly unnecessary headache of on-premise storage and costly data movement while enabling them to focus resources on value add initiatives.