St. Louis, MO — September 26, 2023 — Exegy, the expert provider of end-to-end, front-office trading solutions for the capital markets, is today announcing that it has signed a partnership agreement with BMLL Technologies (BMLL), the leading, independent provider of harmonized, Level 3 historical data and analytics to the world’s financial markets. This unique alliance brings a competitive advantage to qualitative traders, enabling clients to manually take granular, historical data from a best-of-breed provider to fine-tune algos and use the data in Exegy’s back-testing and simulation solutions to derive alpha.
Exegy clients will benefit from impeccable quality and depth of data, and unrivalled analytics. BMLL provides normalized historical, T+1 data from over 75 global venues (covering equities, futures and ETFs), with a minimum of 3 years of history, but mostly 6 or 7 years. In addition, the data is cloud-based, making for easy access to data, analysis, and testing. As BMLL is a vendor of record, clients will also be spared the administrative headache and delay of having to manage multiple exchange licenses. BMLL’s unique, industry-leading data engineering processes capture every message with nanosecond timestamp precision, delivering the cleanest and most complete market data available in capital markets.
David Taylor, CEO of Exegy, says: “We looked at a number of historical data vendors, and soon realized BMLL is in a class of its own. Accessing BMLL data now enables our clients to do strategy back-testing on high-fidelity data and execute using our real-time data. What sets BMLL apart is the way the data is sourced, saved and curated.” He adds: “We are always looking to support our clients as they develop their businesses, working with experts in various fields such as BMLL; with the recent announcement of our newest ticker plant, our clients performing quantitative trading strategies have the best available tools for processing real-time market data, now with the possibility of acquiring comprehensive historical data and analytics.”
Typically, up to 80% of a quant’s time is spent on data analysis, and only 20% on developing algos. BMLL frees up the time spent on the analysis process, effectively democratizing access to trading intelligence. For example, BMLL analytics can calculate the percentage probability of buying an asset at the best price—not a trivial task given that a single stock such as IBM generates 6 million messages/day on a single exchange, creating hundreds of millions of data points.
Paul Humphrey, Chief Executive Officer, BMLL, said: “Firms increasingly need a deeper understanding of market shifts, liquidity dynamics and opportunities for alpha. This requires rapid access to full-depth order book historical data engineered and formatted ready for use. BMLL’s Level 3 data and Exegy’s low latency capabilities are built on the same PCAP source data, making it easy for users to access both real-time and historical data sets with the same precision and granularity for their research. We are excited to work with Exegy to offer our products and services to its global client base.”
This announcement is the result of the two companies recognizing each other’s commitment to providing excellent data and services. For Exegy this is another piece in the jigsaw of expanding clients’ access to the data and tools they need in their front-offices. The partnership is especially valuable for trading firms looking for a fast time-to-market in testing and implementing trading strategies, and for firms starting out on their trading journey.
The partnership solidifies Exegy’s dedication to delivering future-proof solutions and services to the industry. Clients from both companies can now leverage top-tier data and technology, backed by a commitment to uncompromising quality.
Alla Lapidus / Chrissa Diakanastasis
Tel: +44 (0) 20 7250 4770
About BMLL Technologies
BMLL Technologies is the leading, independent provider of harmonised, Level 3 historical data and analytics to the world’s most sophisticated capital market participants, covering European and US equities and ETFs as well as global 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, 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 its 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.
For more information please visit our website and follow us on Twitter @bmlltech and LinkedIn. www.bmlltech.com
Exegy is a global leader in intelligent market data, advanced trading and execution systems, and future-proof technology and infrastructure. Backed by Marlin Equity Partners, Exegy serves as a strategic partner to the complete ecosystem of the buy-side, sell-side, exchanges, and ISV/technology firms around the globe.