Investment Banks & Brokers

Optimising execution, routing, and market insight requires high-quality historical data. But sourcing and standardising fragmented feeds is complex and resource-intensive.

BMLL removes this barrier by delivering harmonised, nanosecond-precision order book data and analytics, enabling trading desks and quant teams to analyse execution quality, refine algorithms, and generate insights without building or maintaining data infrastructure.

KEY CAPABILITIES Optimise Execution and Market Insight

Investment banks and brokers operate in fragmented markets where small inefficiencies materially impact outcomes. BMLL enables precise analysis of market microstructure to improve execution performance.

Transaction Cost Analysis (TCA)

Combine proprietary trade data with high-fidelity market data to measure slippage, impact, and execution quality.

Algorithm & Smart Order Routing Optimisation

Test execution strategies using granular order book dynamics, trade flags, and liquidity signals.

Market Structure Analysis

Understand microstructure behaviour and generate differentiated, client-ready insight.

Market Surveillance

Detect anomalies and behavioural patterns across fragmented venues using pre-computed analytics.

BENEFITS & USE CASES How BMLL Supports Investment Banks & Brokers

Platform	Benefits	Use Case
	A secure cloud-based research environment that enables deep, scalable analysis of harmonised historical market data and pre-computed analytics without infrastructure overhead.	• Ad-hoc market structure research • Algo optimisation and execution logic development • Custom strategy and signal research
	Delivers normalised datasets and pre-computed analytics directly into your environment for seamless integration into existing workflows.	• Automated TCA pipelines • Systematic backtesting and execution models • Surveillance and risk monitoring
	A no-code analytics platform that provides instant visibility into market quality and liquidity dynamics.	• Pre-trade liquidity analysis • Client reporting visuals • Quick market structure diagnostics

BMLL ECOSYSTEM Explore the BMLL Platform

Access to our full range historical harmonised and normalised level 3, equities, futures, options and prediction markets market data, built in analytics and compute that scales across CPU and GPU. Built for alpha, insights, research, development and data science. Designed by quants.

Petabytes of historical market data and derived analytics, securely delivered to your environment by API, files, cloud warehouse or data platform. Level 3 order book granularity, normalised across venues and geographies, research-ready schema.

Intuitive no code visual application bringing all market participants exceptional granular insights over 500 metrics derived from BMLL best in class Level 3.

LATEST INSIGHTS Case Studies and Client Insights

19 May 2026

Webinar - Periodic Auctions

In this session, A2X CEO Kevin Brady will be joined by Roger Ahanonu, Head of Data Science (EMEA and APAC) at BMLL Technologies, to unpack the findings from BMLL’s latest paper on periodic auctions and explore how these developments could apply within the South African context.

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5 February 2026

UK market at close - where does liquidity really lie?

In 2025, UK closing auction activity increased significantly, with volumes rising from 33% to 42% of total lit trading. Although the primary exchange sets the official closing price, up to 20% of close-time trading now takes place on alternative venues such as MTFs and SIs, making visibility into close-price liquidity increasingly important.

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19 January 2026

Periodic auctions: shaping the balance of liquidity for European equities

Periodic auctions (PA) are no longer marginal; they have come to shape European market microstructure and are now both measurable and actionable. In this article you can understand and adapt to these evolving market structural shifts with our insights into the rise of PAs and their impact on market microstructure.

Read the Article

Investment Banks & Brokers

KEY CAPABILITIES Optimise Execution and Market Insight

BENEFITS & USE CASES How BMLL Supports Investment Banks & Brokers

BMLL ECOSYSTEM Explore the BMLL Platform

LATEST INSIGHTS Case Studies and Client Insights

Ready to see the market differently?