BMLL Wins ‘Best Alliance or Partnership’ for Snowflake Collaboration at Waters Tech Sell-Side Technology Awards
London, 8th April 2024: We are delighted to announce that BMLL has won ‘Best Alliance or Partnership’ at the Waters Tech Sell-Side Technology Awards 2024 for its collaboration with Snowflake.
These awards recognise market-leading technologies developed specifically for use by sell-side firms, as well as innovation and addressing the sell-side's most pressing business, regulatory, operational and technology needs.
In Q4 2023 BMLL partnered with Snowflake to empower market participants globally with granular data and analytics, and revolutionise the way the market interacts with Level 3 Data. At the same time, Snowflake Ventures joined existing Series B investors Nasdaq Ventures, FactSet and IQ Capital.
In January 2024, BMLL announced the initial historical datasets available via Snowflake Marketplace: Daily Classified Trades, Level 2 Quotes and Millisecond CBBO. This completes the first phase of BMLL’s collaboration with Snowflake and is designed to increase how customers can discover, access and evaluate datasets.
The BMLL / Snowflake partnership delivers granular data and analytics to market participants worldwide. Level 3 order book data stored, curated and harmonised by BMLL, is delivered globally via Snowflake Marketplace, removing the need for costly, in-house storage and data engineering while accelerating time to insights.
The partnership will allow Snowflake’s growing number of capital market clients to access BMLL’s data and analytics, at speed and scale. Clients no longer need to own, store, engineer and manage these data sets, time and time again. Instead, they can concentrate on differentiating themselves by what they do with the data, not by owning it. Essentially, this partnership helps firms leapfrog infrastructure planning and implementation time, lower costs, and accelerate time to market.
Paul Humphrey, CEO of BMLL, said: “We are delighted to have been recognised for the ‘Best Alliance or Partnership’ at the WatersTech Sell-Side Technology Awards 2024. Snowflake is aligned with our mission to democratise access to the most granular order book data and analytics on a global scale by eliminating the need for resource-intensive data engineering.
As a result of the collaboration, financial institutions, including Snowflake’s customers, do not need to dedicate time and precious resources in engineering these large unstructured data sets to make them usable. We make our vast warehouse of curated Level 3 data and analytics available to the market so that all participants can optimise their own capabilities.”
FactSet was the first to access BMLL’s data and analytics via Snowflake’s Marketplace.
About BMLL Technologies
BMLL Technologies is the leading, independent provider of harmonised, Level 3, 2 and 1 historical data and analytics to the world’s most sophisticated capital market participants, covering global equities, ETFs and futures.
BMLL offers banks, brokers, asset managers, hedge funds, global exchange groups, academic institutions and regulators immediate and flexible access to the most granular Level 3, 2 and 1 T+1 order book data and advanced pre and post-trade analytics. BMLL gives users the ability to understand market behaviour, accelerate research, optimise trading strategies and generate alpha more predictably.
Founded in 2014 in the machine learning laboratories of the University of Cambridge, the platform enables researchers and quants across global financial services firms to apply complex statistical techniques to BMLL’s unique big-data sets with applications such as market impact, pre and post trade analytics, order book simulation and compliance. Users no longer need to buy, curate and harmonise data. With BMLL, they gain cost-effective, instant access to a cloud-native Data Science environment via a single web portal, with a long history of the most granular, full order book data across global equities, futures and ETFs for back-testing and simulation, delivered directly into their workflows.
BMLL secured $26 million in their Series B funding round in Q4 2022, led by Nasdaq Ventures, FactSet and IQ Capital’s Growth Fund to fuel further product and geographic expansion. Snowflake Ventures joined the investment round in September 2023.
For more information please explore our website and follow us on X (Twitter) and LinkedIn.
Read BMLL and Snowflake partnership and investment press release.