BMLL Selects INQDATA to Deliver Granular Historical Data to kdb+ Clients

Tuesday, 11/06/2024 | 07:00 GMT by Damian Chmiel
  • The collaboration aims to enhance performance and lower infrastructure costs.
  • It also enables users to derive insights and optimize trading strategies.
big data acuity trading

BMLL Technologies, a provider of harmonized data and analytics for global markets, has announced a partnership with INQDATA, a cloud-based data solutions provider. The collaboration aims to provide financial market participants access to comprehensive historical market data within their kdb+ environment.

BMLL Partners with INQDATA to Deliver Market Data to kdb+ Users

The partnership will enable users, including data scientists and application developers, to easily access and explore granular historical market information and analytics derived from Level 3 data. BMLL's and INQDATA's joint offering is expected to enhance performance and lower the cost of infrastructure ownership for market participants.

“The level of sophistication across capital markets is constantly increasing, and with it, the demand for high-quality data to understand market behavior and maintain a competitive edge,” said Paul Humphrey, the CEO of BMLL. “This partnership is about making our data available where our clients want it, and in the format that they want. “

The collaboration allows users to leverage the combined, scalable cloud architecture of BMLL and INQDATA to conduct large-scale quantitative and market microstructure analysis. This eliminates the need for additional data science infrastructure and resources, ultimately facilitating faster insights, optimizing trading strategies, and reducing overall costs.

BMLL's data captures and displays full order book data at various granularity levels, consistent across over 100 trading venues. The data is used by various financial institutions to derive insights and understand market behavior. INQDATA's high-performance environment, powered by the kdb+ time-series database, provides financial institutions with fast access to cleansed, real-time, and historical datasets on demand.

“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,” added Theodore Voight, the CEO of INQDATA.

BMLL recently secured $26 million in a Series B funding round led by Nasdaq Ventures, FactSet, and IQ Capital's Growth Fund in Q4 2022. Snowflake Ventures joined the investment round in September 2023.

BMLL's Expanding Partnerships and Data Coverage

BMLL has been actively forming partnerships and expanding its data coverage to serve its customers better. In February, BMLL announced a collaboration with CCData, another London-based firm, to streamline access to data across traditional and digital asset markets. This partnership aims to provide users with a more efficient and comprehensive data solution, enabling them to make informed decisions in an increasingly complex financial landscape.

Before the CCData partnership, BMLL had already taken steps to improve customer access to its datasets. In January, the company completed the first phase of its program to enhance data accessibility and evaluation by making three datasets available via the Snowflake Marketplace. This move allows customers to easily access and analyze BMLL's data, facilitating research, market surveillance, trade and execution analysis, and strategy development.

In addition to its partnerships and data accessibility initiatives, BMLL has also expanded its data coverage to include Canadian markets. The company now provides data from multiple Canadian venues, such as the Toronto Stock Exchange, the Canadian Securities Exchange, CBOE Canada, and Omega ATS.

BMLL Technologies, a provider of harmonized data and analytics for global markets, has announced a partnership with INQDATA, a cloud-based data solutions provider. The collaboration aims to provide financial market participants access to comprehensive historical market data within their kdb+ environment.

BMLL Partners with INQDATA to Deliver Market Data to kdb+ Users

The partnership will enable users, including data scientists and application developers, to easily access and explore granular historical market information and analytics derived from Level 3 data. BMLL's and INQDATA's joint offering is expected to enhance performance and lower the cost of infrastructure ownership for market participants.

“The level of sophistication across capital markets is constantly increasing, and with it, the demand for high-quality data to understand market behavior and maintain a competitive edge,” said Paul Humphrey, the CEO of BMLL. “This partnership is about making our data available where our clients want it, and in the format that they want. “

The collaboration allows users to leverage the combined, scalable cloud architecture of BMLL and INQDATA to conduct large-scale quantitative and market microstructure analysis. This eliminates the need for additional data science infrastructure and resources, ultimately facilitating faster insights, optimizing trading strategies, and reducing overall costs.

BMLL's data captures and displays full order book data at various granularity levels, consistent across over 100 trading venues. The data is used by various financial institutions to derive insights and understand market behavior. INQDATA's high-performance environment, powered by the kdb+ time-series database, provides financial institutions with fast access to cleansed, real-time, and historical datasets on demand.

“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,” added Theodore Voight, the CEO of INQDATA.

BMLL recently secured $26 million in a Series B funding round led by Nasdaq Ventures, FactSet, and IQ Capital's Growth Fund in Q4 2022. Snowflake Ventures joined the investment round in September 2023.

BMLL's Expanding Partnerships and Data Coverage

BMLL has been actively forming partnerships and expanding its data coverage to serve its customers better. In February, BMLL announced a collaboration with CCData, another London-based firm, to streamline access to data across traditional and digital asset markets. This partnership aims to provide users with a more efficient and comprehensive data solution, enabling them to make informed decisions in an increasingly complex financial landscape.

Before the CCData partnership, BMLL had already taken steps to improve customer access to its datasets. In January, the company completed the first phase of its program to enhance data accessibility and evaluation by making three datasets available via the Snowflake Marketplace. This move allows customers to easily access and analyze BMLL's data, facilitating research, market surveillance, trade and execution analysis, and strategy development.

In addition to its partnerships and data accessibility initiatives, BMLL has also expanded its data coverage to include Canadian markets. The company now provides data from multiple Canadian venues, such as the Toronto Stock Exchange, the Canadian Securities Exchange, CBOE Canada, and Omega ATS.

About the Author: Damian Chmiel
Damian Chmiel
  • 1495 Articles
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About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1495 Articles
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