BMLL Technologies Raises $21 Million for Market Data Enhancement
In a significant development within the financial and technological landscape, BMLL Technologies has announced a successful funding round aimed at further enhancing its market data capabilities. The latest round raised a substantial $21 million, with Optiver taking the lead as the principal investor. Existing investors, including Nasdaq Ventures, FactSet, and IQ Capital’s Growth Fund, have shown continued support through this round. Additionally, CTC Venture Capital has also joined the ranks of investors for this funding initiative. This collaboration solidifies the commitment to integrate high-quality historical market data into BMLL's existing production-ready environment, which is crucial for the development of advanced trading algorithms.
BMLL, established in 2014 within the machine learning laboratories of the University of Cambridge, excels in providing harmonized historical data.
It covers global equities, ETFs, and futures markets, enriching the analytical capabilities of various market participants, including banks, asset managers, and hedge funds. By offering data granularity at Level 3, BMLL empowers users to better comprehend market behaviors and refine their trading strategies. Their recent achievements include the integration of over 40 new equities and futures datasets, expanding their coverage to accommodate 98% of the MSCI All Country World Index. Notably, BMLL has introduced over five years’ worth of nanosecond unconflated OPRA options data, positioning itself as a leading provider in the historical data landscape.
As part of the investment agreement, Optiver is poised to utilize BMLL’s historical Level 3, 2, and 1 data for driving its algorithmic development, execution analysis, and market validation. This innovative partnership illustrates an evolving approach to market data management, minimizing the need for firms to engineer extensive datasets in-house. Industry experts, like Paul Humphrey, CEO of BMLL, affirm that this cooperation signals a transformative era where the emphasis is placed on the qualitative advantages of providers like BMLL. The involvement of prominent investors, including CTC Venture Capital, reflects confidence in BMLL's unique position and commitment to enhancing market transparency and efficiency. With these developments, BMLL is well-positioned to expand its global presence and product offerings, benefitting an array of participants across the financial sector.
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