BMLL Technologies has launched its new Derived Data Service, a platform which allows market participants to access data derived from the most granular message-by-message exchange data directly into their trading systems, the company announced this Wednesday.
The Derived Data Service platform uses Level 3 (L3) data, which displays individual messages in the limited order book (LOB). This data gives traders and researches a great insight into the workings of the market, however, these datasets are often large and complex.
Because of this, most firms don’t have the capabilities to derive from these data sets. BMLL Technologies’ new platform delivers analytics on this data in multiple delivery formats in an easily-digestible format directly to a firm’s production environment.
“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.”
BMLL platform can process 225 billion messages in hours
BMLL’s platform can process 225 billion messages in hours, the statement released today said. Furthermore, the platform is customisable and uses tick-by-tick data from primary equity and derivatives exchanges.
“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.”