This joint offering will enhance performance and lower the cost of infrastructure ownership for market participants, by removing the need to commit additional data science infrastructure and resources.

BMLL data captures and displays full order book data, at Level 3, 2 and 1 granularity, in one harmonised format, consistent across 100+ trading venues spanning global Equities, ETFs and Futures. BMLL data is used by banks, brokers, asset managers, hedge funds, global exchange groups and academic institutions to derive predictable insights and understand how markets truly behave.

INQDATA is a cloud-based data solutions provider dedicated to the mission of simplifying the ingestion, processing, storage, infrastructure management and access to analytic-ready market data for any financial market use case at the lowest cost. Its high-performance environment, powered by the world’s fastest time-series database kdb+, gives financial institutions the fastest access to cleansed, real-time and historical datasets on demand.

Combining BMLL datasets with INQDATA technology enables users, including data scientists and application developers, to easily access and rapidly explore granular historical market data and analytics derived from Level 3 Data. They can accelerate their speed to insights and better understand trading behaviours, allowing them to optimise trading strategies and test new markets at unprecedented speed. In addition, they gain a deeper understanding of the cost of execution and increase the development speed and efficacy of their quantitative models.

The partnership will bring together BMLL’s data collection, cleansing, curation and analytics generation and INQDATA’s data ingestion, storage, management and distribution capabilities to provide market participants with access to complete, reliable historical market data within their environment, without the engineering requirements to reformat.

Users can leverage the combined, scalable cloud architecture of BMLL and INQDATA on demand to conduct large-scale quantitative and market microstructure analysis.

Paul Humphrey, CEO of BMLL, said: “The level of sophistication across capital markets is constantly increasing, and with it, the demand for high-quality data to understand market behaviour and maintain a competitive edge. This partnership is about making our data available where our clients want it, and in the format that they want.

Our collaboration with INQDATA is another step in our mission to democratise access to data and analytics at scale. Market participants are now able to derive insights by accessing the complete BMLL API library and quantitative analysis tooling within their environment. They no longer need to dedicate precious time, budget and resources to data engineering and infrastructure. Instead, they can focus on conducting large-scale quantitative and market microstructure analyses to enhance trading outcomes.”

Theodore Voegt, CEO of INQDATA, added: “We are very excited about our collaboration with BMLL. Our combined services provide market participants with the necessary tooling to access high-quality historical market data and analytics as well as data management and distribution to enhance decision-making and unlock new opportunities for customers. Users can generate insights and pursue opportunities without the need to commit additional infrastructure and resources, accelerating return on investment and reducing the overall cost of ownership.”