News, Insight and Events

13 November, 2025

Aggregated metrics to better understand the market

A selection of 7 aggregated metrics to better understand the market, including Volatility, TWA Spread, Quote to Trade, Mean Resting Time, Notional Liquidity Around BBO, Fill Probability and Auction Dislocation.

11 November, 2025

BMLL Selected by EuroCTP to Supply Data Quality Calibration for European Consolidated Tape Initiative

BMLL has been selected by EuroCTP to provide data quality calibration for the European consolidated tape initiative for equities and ETFs. Using its extensive historical market data and analytics, BMLL will help EuroCTP validate data quality controls and calibrate thresholds to ensure accurate and consistent reporting across European trading venues.

10 November, 2025

BMLL Wins ‘Best buy-side data analytics tool’ for BMLL Data Lab at the WatersTechnology Buy-side Technology Awards 2025

We are delighted to announce that BMLL has won ‘Best buy-side data analytics tool’ for BMLL Data Lab at the WatersTechnology Buy-side Technology Awards 2025. These awards recognise market-leading technologies developed specifically for use by buy-side firms. BMLL was awarded “Best buy-side data analytics tool”, for the BMLL Data Lab, its scalable Python research sandbox, a cloud-native environment where users can harness nanosecond, message-by-message data, with unlimited cloud computing power and a full suite of analytics libraries.

7 November, 2025

BMLL wins “Outstanding Market Data Services Provider - Equities” at The TRADE’s Leaders in Trading 2025 awards

We are delighted to announce that BMLL won ‘Outstanding Market Data Services Provider - Equities’ at The TRADE’s Leaders in Trading 2025 awards. These awards recognise the biggest achievers in a series of categories, including Algorithmic Trading; Execution Management; Outsourced Trading; honouring top buy-side traders and other market participants in the Editors’ Choice category.

6 November, 2025

View From The Feed - Futures

Using BMLL’s granular Level 3 Data, explore the micro-structure for a variety of future assets. The metrics used to describe the market state include Liquidity, Volatility, Iceberg order (CME produce only), and more. You can access the full picture of an individual future product, in a six month time span.

28 October, 2025

When size matters in options markets

While traders often compare options markets by number of contracts traded, that metric can be misleading — because the economic value of contracts differs across markets. Instead, you should use notional traded and premium traded to get a clearer picture of market size.

27 October, 2025

Nordic Capital to acquire BMLL, a leading provider of historical trading data and analytics for capital markets

Nordic Capital announces an agreement to acquire BMLL, a leading independent provider of harmonised historical order book data and analytics. The investment will be made in close partnership with the management team of BMLL and minority shareholder Optiver, marking a joint commitment to accelerate the company’s next phase of growth.

27 October, 2025

A New Chapter: Nordic Capital to Accelerate BMLL’s Mission

This is truly a proud day for BMLL, for our clients and our team as we announce that Nordic Capital is acquiring BMLL. Only a few months ago, I talked about the game-changing years we’ve had, but now, we are playing in a different league. Let’s be clear - this is more than just an acquisition; it is a profound partnership built on a joint commitment to accelerate BMLL’s next phase of growth. With Nordic Capital by our side, along with Optiver as a minority shareholder, we are very excited about the future and the impact we will have on the way that the market thinks about and consumes historical market data.

27 October, 2025

(Round) Lots of Change: What the upcoming Reg NMS changes mean for trading

The new rules have the potential to alter order queue dynamics, execution priority, routing decisions and price discovery. Understanding the impact of these changes, and what it means for trading, is critical for market participants in order to manage risk and to continue to trade effectively. In this article, we analyze some of the key Reg NMS changes, and what these might mean for market participants.