BMLL, a provider of historical financial market data and analytics, has secured $21 million in the latest investment round led by global market maker Optiver. This latest financing follows its $26 million Series B round almost two years ago.
The round saw participation from existing investors FactSet, Nasdaq Ventures and IQ Capital’s Growth Fund, with additional investment from CTC Venture Capital.
In conjunction with the investment, Optiver is now using BMLL’s historical Level 3 Level 2 and 1 data to power its algo development, execution analysis, surveillance, market validation and market structure insights.
Data and analytics provider
Led by CEO Paul Humphrey, BMLL collects raw data from global exchanges, trading venues and trade reporting facilities. As a historical data specialist, it ensures that all raw exchange data it collects, processes and curates is accurate, complete and reliable. BMLL acts as Vendor of Record – clients need no additional data licences to access all its data offerings.
BMLL provides data and analytics to banks, brokers, asset managers, hedge funds, global exchange groups, academic institutions and regulators. It provides 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.
Paul Humphrey, CEO of BMLL, added: “Optiver’s investment and their commitment to integrating our historical market data into their advanced trading environment underscores the quality of BMLL’s market data products as best-in-class.”
Investors’ views
Kerry Baldwin, Co-Founder, Managing Partner of IQ Capital, commented: “Through our Growth Fund, we have a great opportunity to support outperforming companies in our portfolio. We’re proud to have backed BMLL from the start and are impressed with the company’s track record and global footprint to date. We look forward to contributing to its future success as the company expands its data coverage and global product capabilities”.
George Kalant, Venture Capital Lead, Chicago Trading Company added: “As we aim to select investment opportunities that have strategic alignment to existing or prospective business verticals within CTC, we look forward to this new investment partnership. From a trading firm perspective, BMLL is uniquely positioned to offer a strong value proposition given their extensive data warehouse and supporting harmonisation layer.”
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