BMLL Technologies Launches Derived Data Service Platform

BMLL Technologies has launched its new Derived Data Service, a platform which allows market participants to access data derived from the most granular message-by-message exchange data directly into their trading systems, the company announced this Wednesday.

The Derived Data Service platform uses Level 3 (L3) data, which displays individual messages in the limited order book (LOB). This data gives traders and researches a great insight into the workings of the market; however, these datasets are often large and complex.

Because of this, most firms don’t have the capabilities to derive meaningful analytics from these data sets. BMLL Technologies’ new platform delivers Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term on this data in multiple delivery formats in an easily-digestible format directly to a firm's production environment.

Commenting on the new platform, Ben Collins, Head of Sales at BMLL Technologies said: “Our goal is to democratise and broaden access to derived metrics and analytics from Level 3 data for market participants, their research and quant teams. We have already carried out the hugely complex engineering tasks necessary to integrate data, hardware and analytics into a single managed platform that operates both at scale and at speed."

“Our clients can outsource the processes of data curation, normalisation, and data engineering for derived data to us, allowing them to make more informed decisions and focus on alpha generation and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term efficiency.”

BMLL platform can process 225 billion messages in hours

BMLL’s platform can process 225 billion messages in hours, the statement released today said. Furthermore, the platform is customizable and uses tick-by-tick data from primary equity and derivatives exchanges.

“What is unique to the service is that public exchange data can be combined with a client’s private data to create bespoke derived data,” added Elliot Banks, Chief Product Officer at BMLL Technologies.

“This derived data can support decisions throughout the trade lifecycle, including pre-trade decisions, real-time feedback, and post-trade reporting. Built by world-class data scientists, the platform is flexible and scalable, allowing a client’s data strategy to be enhanced or accelerated at relatively low cost.”