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.

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SEC Rule 605: BMLL’s SIP Trades Plus and 16 harmonised US data feeds solve new reporting requirements

Rule 605 of Regulation NMS previously required only market centers to publish monthly, in arrears, statistics ...

21 April, 2026

Decoding Geopolitical Risk: A Level 3 Market Microstructure Analysis of Crude Oil at the Start of the Iran War

Geopolitical risk in financial markets is typically understood as a macro phenomenon - stress escalates, supply is threatened, prices spike. But the order book tells a di...

20 April, 2026

From Fragmented Feeds to Strategic Edge: Inside the Exchange Data Revolution

From building self-serve analytics capabilities, to replicating each others' public research papers to launching new products and trading mechanisms, the message to the m...

14 April, 2026

Beyond the Checkbox: Reshaping Sell-Side Execution Analytics

In today’s markets, execution analytics has evolved from a best execution reporting chore into a front-line differentiator. What was once a reactive, box-ticking TCA proc...

23 March, 2026

TabbFORUM at FIA Boca 2026: BMLL’s Paul Humphrey on Data & AI

In this conversation with TABB Group CEO Bruce Morris, Paul Humphrey explains how clients have become more open to discuss how they are using AI in conjunction with his f...

19 March, 2026

How Building an Equities Business Changed Our View of Liquidity

Liquidity isn’t just trading volume—it’s fragmented and often hidden across multiple venues. Building an equities business revealed that relying on traditional data gives...

3 March, 2026

BMLL CLIENT SUMMIT EMEA 2026

This event brought together leading buy-side and sell-side practitioners, exchanges, regulators, academics and industry partners to explore how high-quality historical ma...

24 February 2026

Choosing the Right Market Data for Scalable Insight

While PCAP data provides the most complete record of market activity and is vital for analysing connectivity or protocol-level issues, it’s often unnecessary for most sys...

10 February, 2026

Beyond the Benchmarks: A New Era for the Buy-Side Desk

In this blog, Rob Laible reflects on a buy-side panel at the Equity Leaders Summit that explored how trading infrastructure and data are transforming the modern trading d...

6 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 cl...

29 January, 2026

BMLL’s Rob Laible on how data and analytics are reshaping the buy-side trading desk

Fresh from moderating a panel on the evolving role of data and analytics, Rob Laible, head of Americas at BMLL, explains how buy-side trading workflows are becoming incre...

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 ...

7 January, 2026

The data beneath the surface: what the first month of Reg NMS changes actually revealed

The US equity market is undergoing major structural change, and early analysis of the first Reg NMS updates shows that while reported liquidity metrics have shifted, unde...

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