BMLL Wins ‘Best Data Science Solution Provider’ at the Hedgeweek European Awards 2024
London, New York, 9 February 2024: We are delighted to announce that BMLL has won “Best Data Science Solution Provider” at the annual HedgeWeek European Awards 2024. These awards recognise excellence among fund managers and service providers in Europe across a wide range of categories.
BMLL was awarded “Best Data Science Solution Provider” for providing Level 3 data and analytics to hedge funds, helping them improve predictability, quality and speed of alpha through a scalable, managed data and analytics service.
Specifically, BMLL helps quant teams deliver predictive alphas: using BMLL’s suite of predictive analytics and scalable research, they can unlock patterns in market behaviour, improve signal generation and optimise algorithm performance at a fraction of the cost of building the capabilities in-house.
The award recognises BMLL’s support for start-up hedge funds such as Magma Capital Funds, who leverage BMLL’s data science platform to reduce set-up costs and shorten time to market, as well as its capabilities for supporting large systematic hedge funds with alpha generation and operational needs.
BMLL’s ready-to-use, quant-built data science platform, provides hedge funds with the necessary research infrastructure to support their specific operation and growth from the outset, without the high upfront costs and lengthy timelines normally associated with launching a quantitative or systematic fund.
Paul Humphrey, CEO of BMLL, said: “We are very excited to win the ‘Best Data Science Solution’ category at the HedgeWeek European Awards 2024.
Historically, hedge funds have built the data science capabilities themselves. However, young funds want to focus on the value-add rather than the complexity and cost of the in-house processes associated with curating and cleansing data, or managing and storing multiple copies of historical market data. Their core competency is research and finding an angle to generate alpha, the effort needed for data curation and data engineering is not where they want to spend their time and resources. They turn to us to provide them with historical data packaged with an analytics library and the ability to query and analyse the data to generate trading signals.
My thanks go to our incredibly talented team for their continued dedication towards developing our unrivalled data science capabilities.”
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.