About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

BMLL Offers Access to Normalised Level 3 Data and Advanced Analytics at Scale

Subscribe to our newsletter

BMLL Technologies, a cloud-based data-engineering-as-a-service company, has released a derived data service that provides access to normalised, highly granular Level 3 data and advanced analytics. Typically, the company’s derived data capability can process 225 billion messages in a matter of hours rather than days at a significantly reduced cost, allowing market participants to consume bespoke metrics derived from Level 3 message-by-message exchange data without the need to build and maintain internal infrastructure.

Designed in response to specific client requests, the BMLL derived data service provides a collaborative framework for customisable time series datasets and uses the most granular tick-by-tick data from primary equity and derivatives exchanges. This Level 3 data displays all the individual messages in the limit order book (LOB) and provides traders and researchers with extensive visibility into the workings of the market. Elliot Banks, chief product officer at BMLL, claims the service is unique in being able to combine public exchange data with a client’s private data to create bespoke derived data.

Offering point in time information at a very granular level, and analytics at speed and scale, the BMLL service is finding use cases including seeking alpha, working out transaction costs, spotting potential fraud, gaining visibility into order books, and understanding market quality in terms of behaviours, such as predatory trading, across exchanges and other trading venues.

The company says the service has already been adopted by eight Tier 1 organisations  including bulge bracket investment banks, asset managers, hedge funds, exchanges and academic research groups. Typical users are quants trading European equities and futures.

At the moment, users consume data from exchanges and venues across the US and Europe that has been normalised by BMLL in FTP files or on the company’s platform, where they can also access analytical tools. Looking forward, BMLL has plans to offer cloud-to-cloud data transfer and an application programming interface (API).

While BMLL takes the strain and clients can outsource processes of curation, normalisation, and data engineering for derived data, chief operating officer William L’Heveder says BMLL’s key deliverable is its ability to combine analytics with the market’s most granular datasets, do this at speed in the cloud, and deliver results of complex calculations quickly so that clients can make competitive decisions.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unlocking Competitive Edge with Outsourcing and Managed Services in Trading Technology

Outsourcing has emerged as a strategic solution for capital markets firms as trading technology infrastructures become more complex, data volumes grow exponentially, and regulatory pressures intensify. .By leveraging third-party expertise, firms can optimise operations, reduce costs, and focus on innovation in their trading technology stack. Outsourcing potentially enables firms to scale seamlessly, meet regulatory reporting...

BLOG

HERE’s Enterprise Browser Claims Best Desktop Interoperability Framework at TradingTech Insight Awards USA 2025

Desktop interoperability has long been the missing piece in unifying fast-moving, multi-application trading workflows. At this year’s TradingTech Insight Awards USA, HERE – the enterprise browser born from OpenFin’s pioneering container technology – was recognised for closing that gap, capturing the award for Best Desktop Interoperability Framework. TradingTech Insight took the opportunity to sit down...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...