BMLL, independent provider of historical Level 3 data and analytics, revealed the expansion of its coverage by adding Asian exchanges.
The company added Level 3 data from CBOE Japan, Japannext and Singapore Exchange. The expansion further complements the existing equities and ETF data for Tokyo Stock Exchange within the BMLL product suite.
The addition of coverage of Asian markets benefits buy-side firms, as well as sell-side execution firms, looking to boost their product offering with Level 3 order book data and analytics.
Paul Humphrey, CEO of BMLL, commented
The demand for high quality historic market data has grown exponentially as participants need to understand market or venue behaviour across the US, EMEA and APAC. They need to get the full picture of market quality, liquidity and order dynamics to ultimately make better informed decisions on the markets they trade and the venues they run.
He added:
It is our mission to continue to democratise access to Level 3 data and analytics and widen our data coverage across global jurisdictions. With phase one of our APAC data coverage expansion complete, we are delivering on the strategy we set out following our successful Series B fundraise in October 2022. Further exchange coverage announcements to follow in due course”.
Established in 2014, BMLL offers services to investment banks, exchanges, and buy-side firms. Its platform provides Level 3 data from 65 venues and in 3 asset classes.
Dr Elliot Banks, Chief Product Officer at BMLL, said:
Expanding our data offering to include APAC moves us closer towards our goal of having global coverage to benefit our community of users. Exchanges across APAC, EMEA and the US can carry out venue analytics, compare equities and ETFs, without the need to buy, curate and harmonise data. They can do this across a much larger, global market that now also includes Japan, a fragmented trading environment with multiple venues. What’s more, regulators are now able to not only analyse the European and US markets, but also follow the development of Asia markets, which have different regulatory structures.
The expansion comes after BMLL announced raising $26 million in Series B Funding round for expanding its data coverage across global markets.
