Market Insight
Stay ahead of evolving market dynamics with expert perspectives, research and analysis from BMLL.
Our Market Insights bring together observations from across the capital markets ecosystem, helping firms better understand market behaviour, optimise execution strategies and uncover opportunities through high-quality historical data and analytics.
10 September, 2026
BMLL Market Lens: View From The Feed
A selection of 10 aggregated metrics to better understand the market, including Volatility, TWA Spread, Quote to Trade, Mean Resting Time, Notional Liquidity Around BBO, ...
Read more
3 September, 2026
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, Volatilit...
Read more
2 September, 2026
BMLL Market Lens: US Liquidity Maps - August Summer Lull
BMLL Market Lens: US Liquidity Maps provide insight into the US equity markets with a view of the top 500 US stocks across the major trading and execution venues over a 1...
Read more
20 August, 2026
BMLL Market Lens: European Liquidity Maps
European Real economic interest ADV up 53% YoY
Read more
31 July, 2026
SpaceX crashes back to the surface
Options trading shifted from pricing index-inclusion-driven upside demand to a more nuanced view of lock up and earnings risk in early August: Taking a deeper look at wha...
Read more
17 July, 2025
Billion-dollar World Cup Kalshi market ends with Spanish-speaking winner
BMLL Level 2 data shows that $1.16 billion of outright World Cup contract notional traded on Kalshi through 15 July 2026. We explore trading conditions of Kalshi outright...
Read more
26 June, 2026
Measuring ICE Futures Liquidity Beyond the Lit Book
When 39% of cotton futures trading occurs via ICE implied order book, building an exhaustive view of executable liquidity becomes critical.
Read more
16 June, 2026
Beyond the Headlines: The Market Mechanics Behind SpaceX's First Day
SpaceX (SPCX) traded US$85.3 billion on 522 million shares, or 94% of float, during its first trading session. It closed 19.2% above its US$135 offer price and 7.3% above...
Read more
11 June, 2026
BMLL Market Lens: European Liquidity Maps - A Real Economic Interest Viewpoint
How you read the European tape depends on which viewpoint you take. This month only and in the context of ESMA current equity market structure call for evidence, we provi...
Read more
10 June, 2026
The "Buy to Build" Paradigm: Redefining Data Strategy for Buy-Side Execution
Buy-side trading desks are moving away from costly in-house data management toward a "buy to build" model — purchasing clean, normalised data from vendors so teams can fo...
Read more
Receive Market Insight from BMLL: the latest thought leadership and global market microstructure analysis delivered directly to your inbox
