BMLL Technologies launches Derived Data Service
Data engineering-as-a-service firm, BMLL Technologies, is offering access to normalised Level 3 (L3) data with its new service for bespoke trading analytics, reports Jane Connolly.
The Derived Data Service solves the technical challenges faced by traders trying to derive meaningful analytics from large, highly complex L3 data sets. The company claims it is democratising access and offering traders and researchers “unparalleled visibility” into the market’s workings.
Now firms can receive analytics in multiple delivery formats and directly to their production environment.
“Our goal is to democratise and broaden access to derived metrics and analytics from Level 3 data for market participants, their research and quant teams,” says BMLL’s head of sales, Ben Collins. “We have already carried out the hugely complex engineering tasks necessary to integrate data, hardware and analytics into a single managed platform that operates both at scale and at speed.”
He adds: “Our clients can outsource the processes of data curation, normalisation and data engineering for derived data to us, allowing them to make more informed decisions and focus on alpha generation and execution efficiency.”
Elliot Banks, BMLL’s chief product officer, says public exchange data can be combined with clients’ private data.
Banks adds: “This derived data can support decisions throughout the trade lifecycle, including pre-trade decisions, real-time feedback and post-trade reporting. Built by world-class data scientists, the platform is flexible and scalable, allowing a client’s data strategy to be enhanced or accelerated at relatively low cost.”
The BMLL Derived Data capability can typically process 225 billion messages in just hours, rather than days.