BMLL, the award-winning data and analytics provider, today announced a collaboration with Data In Harmony (DIH), a data provider and data consultancy covering global financial markets, to make BMLL’s Data Lab and Data Feed available to US-based market participants, helping them unlock the predictive power of order book data.

The collaboration comes following the announcement in October 2020 that BMLL is now providing five years of granular, Level 3 order book data for US markets. This data gives systematic hedge funds, quants and algo traders the ability to gain insights, backtest their trading strategies over a sufficiently long time horizon to capture a wide spectrum of market scenarios and improve alpha generation.

The BMLL Data Lab takes BMLL’s granular Level 3 order book data and combines it with easy-to-use APIs and analytics libraries in a secure cloud environment, allowing quants to perform scalable research without the burden of data curation or engineering. The LAB seamlessly integrates with production tools and workflows, allowing users to efficiently turn research into actionable results.

The BMLL Data Feed provides users with the full power of the BMLL Data Lake and Data Lab’s  analytics capabilities, delivered in the form of derived data feeds. BMLL’s Data Feeds are pre-computed from the most granular, full-depth order book data, giving participants actionable insight on the markets they trade. These analytics are used by leading buy-side and sell-side institutions as well as major exchange groups and trading venues to better understand and analyse trading behaviour on their venues.

The distribution agreement with DIH brings BMLL’s data and analytics capabilities to US capital markets participants through DIH’s extensive network of buy-side players and service providers.

“We are excited to add BMLL’s Level 3 depth of book data solutions to our offering,” says Tom Myers, founder of DIH Solutions. “Prior to founding DIH, I spent a good part of my career providing high-frequency tick-by-tick data to the buy- and sell-side. However, depth of book data just wasn’t feasible to make commercially available given its storage challenges and the lack of tools available to analyze it. BMLL has built what I and so many market participants have wanted — access to Level 3 data and analysis tools without all the headaches (and costs) of maintaining such a large data set.”

DIH helps firms, including investment banks and hedge funds, to find and on-board the reliable financial and alternative data they need, helping them improve data quality and reduce data costs. In an environment of growing emphasis on data quality, and a push by management to hold down costs, DIH was founded to offer an alternative to legacy data vendors whose data is often incomplete and inaccurate, expensive and licensed under restrictive terms and conditions.

Paul Humphrey, CEO of BMLL Technologies, said: “We are delighted to collaborate with Data In Harmony and make our data and analytics available to clients and market participants via their US-based ecosystem. It is now more important than ever to harness the power of the full-depth order book and scalable cloud compute to provide relevant insights and deep analytics to our clients, helping them to truly understand how markets behave.”