BMLL, the independent provider of financial market data and analytics, has launched BMLL Vantage, a no-code data and analytics visual application that gives market participants visual access to full depth order book data for US and European equities and ETFs.
BMLL has a strong track record in making Level 3 historical data and analytics available to capital markets participants, including banks, brokers, asset managers, hedge funds, academic institutions and exchange groups. Until now however, firms have needed to utilise quant resources to carry out the necessary analysis on that data in order to understand how markets behave.
BMLL Vantage democratises access to Level 3 order book data and analytics through an intuitive visualisation tool, thereby removing the need to code in order to derive meaningful insights. The product is designed to make quant insight available to a broader user base, including sales traders, analysts, and ETF issuers, which then frees up quants’ time to focus on deeper research, according to the firm.
“Historically, our products have been data science products, where users might be coding through Python or some other programming interface,” says Dr. Elliot Banks, Chief Product Officer at BMLL. “With BMLL Vantage, we’ve launched a no-code platform for querying the analytics and datasets derived directly from Level 3 order book data, meaning that anyone can come in and visualise, explore the data, run whatever analysis they want, and at no point do they have to start coding or writing software in order to use it.”
The product comes with a set of pre-defined templates for use cases such as venue comparison, auction analysis, trading & execution optimisation and liquidity discovery. Users can also create their own visualisations and use the built-in collaboration functionality to share their analysis with their teams.
“You get access to a full suite of over 250 different analytics that you can query, run, analyse, chart in different manners, aggregate over different time windows, and so on,” says Banks. “And you can upload your own portfolio and run charts, views and queries, either symbol by symbol or aggregated in any way you want. So you might want to ask, where is there depth of liquidity, where are the shortest resting times, when are spreads narrowest, etc. Having access to full Level 3 data means you can then quickly analyse all of that statistically across the portfolio.”
BMLL Vantage is a web-based platform, UI-driven and accessible via APIs.
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