Independent market structure analytics.
On demand.
No coding required. Independent market structure analytics. On demand. No coding required.

A visual no-code analytics application for benchmarking liquidity, venue quality and market fragmentation across global equities and ETFs

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BMLL Vantage Factsheet

The Solution How BMLL Vantage accelerates time-to-insight

BMLL Vantage solves the core problems slowing down trading analytics: resource bottlenecks, technical barriers, and credibility gaps.

No-code access to institutional-grade analytics

The intuitive visual interface enables complex market microstructure analysis without requiring data science expertise. This democratises access and empowers trading, execution, and strategy teams to self-serve analytics.

Collaborate & share insights across teams

Built-in collaboration features enable teams to share, comment on, and export charts and data into Excel - supporting seamless research and client reporting workflows. Integrates with BMLL Data Lab and BMLL Data Feed for advanced bespoke analysis.

Independent data that wins trust

Comprehensive order-book and trade-level analytics from an impartial third party - from trade volumes classified by type to market quality indicators.BMLL provides neutral, third-party market structure data trusted across the ecosystem.

Collaborate & share insights across teams

Built for your workflow

Analyse single stocks, custom portfolios of stocks or entire markets. Create and toggle between analytical views and pre-canned reports tailored to your needs. Leverage a library of pre-built views for inspiration across diverse trading and liquidity scenarios.

Use Cases How teams use BMLL Vantage to gain an advantage

For Execution Desks

Route smarter across fragmented markets

The challenge

You need to optimise order routing across dozens of venues, but lack visibility into where liquidity really lies - and how it shifts over time.

How BMLL Vantage helps

Compare historical liquidity across exchanges, alternative trading venues and trade reporting facilities. Split by trading mechanisms (Auctions, Continuous, RFQ, OTC etc), order books, venue type and more.
Identify which venues offer the best fill rates
Track how liquidity migrates between venues around key events (opens, closes, index rebalances)
Analyse aggressive vs. passive flow to predict short-term price impact

What you achieve

Reduce slippage and transaction costs by routing to venues with proven liquidity for your order profile - defend your routing decisions with independent data you can trust.

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For Exchange & Venue Teams

Prove your venue quality to win flow

The challenge

Brokers and buy-side firms demand proof that your venue offers competitive spreads, depth, and execution quality - but in-house analytics can’t provide that comparison.

How BMLL Vantage helps

Prove your venue's quality (e.g. spread, depth, and fill probability) with independent evidence - not internal claims.
Demonstrate improvements in market quality following product launches or fee changes.
Generate client-ready visualisations showing your venue's performance over time
Quantify the impact of maker-taker reforms, tick size pilots, or regulatory changes.

What you achieve

Win trust and onboarding decisions by showing that your venue delivers superior execution, validated by an independent source.

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For Sales & Strategy Teams

Win clients with independent market evidence

The challenge

Clients ask tough questions about market share, venue quality, and execution performance - but you're stuck between anecdotes and internal analytics that lack credibility.

How BMLL Vantage helps

Walk into every client meeting with answers, not anecdotes.
Show how your firm's venues or algos stack up against competitors using neutral, third-party data.
Create custom portfolio-level reports that directly address client concerns.
Export charts and data into pitch decks and client reports in seconds.

What you achieve

Close deals faster by answering client questions with credible, visual evidence - without data science resource bottlenecks.

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For Traders

Time auction execution to minimise slippage

The challenge

Closing auctions and index rebalances create huge liquidity events - but predicting imbalances and price impact requires deep historical analysis you don't have time for.

How BMLL Vantage helps

Analyse excess Close Auction volume and closing spreads for your target stocks.
Track how liquidity shifts from continuous trading into auction mechanisms.
Study past rebalance events to anticipate volume surges and price volatility.
Compare auction performance across exchanges to identify the best execution venue.

What you achieve

Enter auctions with confidence, reduce adverse selection, and capture alpha during high-impact liquidity events.

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For Market Entry & Strategy Teams

Assess new markets before committing resources

The challenge

Expanding into new regions or asset classes is expensive - but you lack visibility into market structure, venue landscapes, and liquidity dynamics before you invest.

How BMLL Vantage helps

Explore unfamiliar markets without building costly data infrastructure
Compare fragmentation levels, venue market share, and trading behaviors across geographies
Evaluate whether onboarding a new venue or connectivity investment will pay off
Benchmark liquidity and execution quality in new asset classes (e.g., ETFs vs. single names)

What you achieve

Make informed go/no-go decisions on market expansion - backed by data, not guesswork.

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For Regulators

Monitor market quality and investigate complaints without building infrastructure

The challenge

You need to assess market quality, evaluate policy impacts, and investigate complaints about venue performance or best execution - but building surveillance systems is resource-intensive and relying on data from regulated entities creates conflicts of interest.

How BMLL Vantage helps

Monitor execution quality metrics across venues such as how often quoted prices are at the best possible price - to identify systemic issues or outliers.
Evaluate the real-world impact of tick size changes, trading halts, or market structure reforms using independent data.
Investigate specific trading periods or venues flagged in complaints with order-book level granularity.
Track fragmentation trends and venue market share shifts to inform policy consultations and impact assessments.
Export evidence-based charts and data into enforcement documentation and regulatory reports.

What you achieve

Make credible policy decisions and conduct independent market oversight using production-ready analytics

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Ready to get market microstructure insights in minutes?

Accelerate insight generation with BMLL’s advanced historical trading analytics, delivering detailed visibility into liquidity and fragmentation dynamics or losing auction performance.

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Independent market structure analytics. On demand. No coding required. Independent market structure analytics. On demand. No coding required.

The Solution How BMLL Vantage accelerates time-to-insight

Use Cases How teams use BMLL Vantage to gain an advantage

For Execution Desks

The challenge

How BMLL Vantage helps

What you achieve

For Exchange & Venue Teams

The challenge

How BMLL Vantage helps

What you achieve

For Sales & Strategy Teams

The challenge

How BMLL Vantage helps

What you achieve

For Traders

The challenge

How BMLL Vantage helps

What you achieve

For Market Entry & Strategy Teams

The challenge

How BMLL Vantage helps

What you achieve

For Regulators

The challenge

How BMLL Vantage helps

What you achieve

Ready to get market microstructure insights in minutes?

Independent market structure analytics.
On demand.
No coding required. Independent market structure analytics. On demand. No coding required.