BMLL selects INQDATA to deliver BMLL’s industry-leading historical data and analytics directly to kdb+ users
Users can now access BMLL’s high-quality, granular data directly within their kdb+ environment, leading to faster time-to-insights, reduced total cost of ownership, and optimised trading strategies.
London, New York, 11 June 2024: BMLL, the leading, independent provider of harmonised, historical Level 3, 2 and 1 data and analytics across global equity, ETFs and futures markets, today announced a partnership with INQDATA to provide financial market participants with access to the most complete and accurate historical market data within their kdb+ environment. This joint offering will enhance performance and lower the cost of infrastructure ownership for market participants, by removing the need to commit additional data science infrastructure and resources.
BMLL data captures and displays full order book data, at Level 3, 2 and 1 granularity, in one harmonised format, consistent across 100+ trading venues spanning global Equities, ETFs and Futures. BMLL data is used by banks, brokers, asset managers, hedge funds, global exchange groups and academic institutions to derive predictable insights and understand how markets truly behave.
INQDATA is a cloud-based data solutions provider dedicated to the mission of simplifying the ingestion, processing, storage, infrastructure management and access to analytic-ready market data for any financial market use case at the lowest cost. Its high-performance environment, powered by the world’s fastest time-series database kdb+, gives financial institutions the fastest access to cleansed, real-time and historical datasets on demand.
Combining BMLL datasets with INQDATA technology enables users, including data scientists and application developers, to easily access and rapidly explore granular historical market data and analytics derived from Level 3 Data. They can accelerate their speed to insights and better understand trading behaviours, allowing them to optimise trading strategies and test new markets at unprecedented speed. In addition, they gain a deeper understanding of the cost of execution and increase the development speed and efficacy of their quantitative models.
The partnership will bring together BMLL’s data collection, cleansing, curation and analytics generation and INQDATA’s data ingestion, storage, management and distribution capabilities to provide market participants with access to complete, reliable historical market data within their environment, without the engineering requirements to reformat.
Users can leverage the combined, scalable cloud architecture of BMLL and INQDATA on demand to conduct large-scale quantitative and market microstructure analysis.
Paul Humphrey, CEO of BMLL, said: “The level of sophistication across capital markets is constantly increasing, and with it, the demand for high-quality data to understand market behaviour and maintain a competitive edge. This partnership is about making our data available where our clients want it, and in the format that they want.
Our collaboration with INQDATA is another step in our mission to democratise access to data and analytics at scale. Market participants are now able to derive insights by accessing the complete BMLL API library and quantitative analysis tooling within their environment. They no longer need to dedicate precious time, budget and resources to data engineering and infrastructure. Instead, they can focus on conducting large-scale quantitative and market microstructure analyses to enhance trading outcomes.”
Theodore Voegt, CEO of INQDATA, added: “We are very excited about our collaboration with BMLL. Our combined services provide market participants with the necessary tooling to access high-quality historical market data and analytics as well as data management and distribution to enhance decision-making and unlock new opportunities for customers. Users can generate insights and pursue opportunities without the need to commit additional infrastructure and resources, accelerating return on investment and reducing the overall cost of ownership.”
ENDS
About BMLL
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.
About INQDATA
INQDATA is an innovator in cloud-based data solutions that empower financial institutions to focus on adding value to data and drive business growth. The company’s innovative solutions seamlessly integrate data from multiple sources within a highly performant, fully hydrated and managed, cloud based environment powered by kdb+, providing users with a holistic view of their complete market data and data quality landscape through a single, simple service. INQDATA’s commitment to customer success is evident in its unwavering support and dedication to helping clients achieve their goals.
