Industry Reports & Articles

Access a curated collection of industry reports, expert articles and independent research exploring the evolution of market structure, trading performance and capital markets technology.

Bringing together insights from BMLL, industry leaders and respected publications, these resources provide valuable perspectives on the opportunities and challenges facing market participants today. From regulatory change and execution quality to data analytics and market transparency, discover the research and thought leadership shaping the future of financial markets.

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The Tick of It: Assessing the impact of recent tick size changes on spread and liquidity across the FTSE 100

LSEG latest report 'The Tick of It' takes a closer look at the recent tick size changes across FTSE 100 stocks...

5 April, 2023

Cboe Europe demonstrates big gains in liquidity and price formation

Selin Duz Tan, Head of Execution Consulting, Cboe Europe, discusses the exchange's recent market share growth and uses BMLL Data to demonstrate Cboe Europe's price qualit...

23 March, 2023

The Data and Analytics Race: How to win in a future determined by historic data

In this webinar, Dr Elliot Banks and industry leaders examined the strategies the sell side is deploying, and how the buy side is developing its approach.

9 March, 2022

Why Physics Makes a Pre-trade Tape Impossible

Exploring the challenges of a European consolidated tape, Nasdaq uses BMLL data to examine the percentage of the time European stocks would have a stale EBBO.

6 March, 2023

SIX Infosnack 12: Cancel Culture

Using BMLL data, this InfoSnack looks at order cancellations as a key driver of the order book shape, across the most liquid European equities.

17 February, 2023

Nasdaq Analysis in Response to SEC Market Structure Proposals

Phil Mackintosh, Chief Economist, Nasdaq, recently conducted an analysis using data from BMLL to examine the optimal ticket size for tighter spreads in US securities trad...

24 January, 2023

Going for growth to democratise Level 3 data

Best Execution caught up with Paul Humphrey, CEO of BMLL, which recently secured $26m of Series B investment to support the firm’s growth strategy.

9 January, 2023

Cboe Europe Equities Yearly Recap and Look Ahead

Using BMLL harmonised data Natan Tiefenbrun, President, Cboe Europe, compares time at EBBO, across the FTSE100, with Cboe's competitor venues.

22 December, 2022

The TRADE predictions series 2023: Data

Paul Humphrey, CEO, BMLL Technologies: 'Firms that realise the predictive power of Level 3 data will understand their markets better, derive more predictive analytics, an...

8 December, 2022

Tight NBBO Matter to Off-exchange Trades Too

Using BMLL Data, Phil Mackintosh, Chief Economist, Nasdaq, explore the differences in price between odd NBBO and the NBBO-midpoint for the same stock and highlights why t...

14 November, 2022

IEX ‘Boxes and Lines’ market structure podcast

IEX’s Ronan Ryan and John Ramsay talk with BMLL’s Paul Humphrey and Dr Elliot Banks in Ep. 72 ‘What’s historical data anyway?’.

11 October, 2022

BMLL Launches Data Visualisation Tool for Equities & ETFs

BMLL Vantage democratises access to Level 3 order book data and analytics through an intuitive visualisation tool, thereby removing the need to code in order to derive me...

6 October, 2022

What Makes Other Countries’ Trading Tick?

Using BMLL Data, Phil Mackintosh, Chief Economist, Nasdaq, examines how the system of round lots and 1-cent ticks in the U.S. creates inefficiency as stock prices rise an...

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