BMLL, a provider
of historical financial market data and analytics, has secured $21 million in the
latest investment round led by global market maker Optiver. This latest financing
follows BMLL’s $26 million Series B round almost two years ago.
The company has added over 40 equities and futures datasets worldwide during the last 18 months, now covering 98% of the MSCI All Country World Index. BMLL’s data and
analytics, which span more than 100 global trading venues, are utilized by a
diverse range of market participants, brokers, and regulators.
Paul Humphrey, CEO of BMLL.
“We
have an incredibly diverse team of supporting investors, with deep-seated
global market and technology expertise, and we are poised to scale the business
further as we build out and scale our data feed business and futures coverage
and wider product offering globally,” commented Paul Humphrey, the CEO of BMLL.
The funding
round also saw participation from existing investors FactSet, Nasdaq Ventures,
and IQ Capital’s Growth Fund, with CTC Venture Capital joining as a new
investor.
As part of
the investment, Optiver will integrate BMLL’s historical Level 3, 2, and 1 data
into its trading operations, using it to enhance algorithm development,
execution analysis, and market surveillance.
Pat Cooney, Managing Director of Optiver Europe
“The high
quality of BMLL’s data, their advanced analytics tools and their best-in-class
team have together significantly improved our ability to generate insights that
influence our strategies,” Pat Cooney, Managing Director of Optiver Europe, commented.
“We believe these benefits can extend beyond our firm and provide substantial
value to other market participants as well.”
The
investment underscores a growing trend in the financial industry towards a
“buy-to-build” model for market data infrastructure. Rather than
developing and maintaining their own historical data capabilities, firms are
increasingly turning to specialized providers like BMLL for ready-to-use data
sets.
This latest
funding round follows BMLL’s $26 million Series B round in October 2022, which
included investments from FactSet, Nasdaq Ventures, and IQ Capital’s Growth
Fund. Snowflake Ventures later joined that round in September 2023.
We are excited to announce that we have closed our latest funding round securing a $21 million investment. Optiver leads the round, with FactSet, Nasdaq Ventures and IQ Capital’s Growth Fund and Chicago Trading Company Venture Capital also investing.https://t.co/XCW7TYLdbd pic.twitter.com/81OsN3kJLX
— BMLL (@bmlltech) October 1, 2024
BMLL’s Recent Partnerships
and Data Initiatives
BMLL has
been actively expanding its partnerships and data offerings throughout the
year. In June, the company announced a
partnership with INQDATA, a cloud-based data solutions provider. This
collaboration enables financial market participants to access BMLL’s extensive
historical market data within their kdb+ environment.
Earlier in
the year, BMLL joined forces with CCData, an FCA-authorized benchmark
administrator specializing in digital asset data solutions and settlement
indices. This partnership aims to streamline access to data across both
traditional and digital asset markets, providing users with a more
comprehensive view of the financial landscape.
In January,
BMLL completed the first phase of its program to improve customer access to
datasets. The company made three datasets available via the Snowflake
Marketplace, allowing customers to access and analyze BMLL’s data easily.
BMLL, a provider
of historical financial market data and analytics, has secured $21 million in the
latest investment round led by global market maker Optiver. This latest financing
follows BMLL’s $26 million Series B round almost two years ago.
The company has added over 40 equities and futures datasets worldwide during the last 18 months, now covering 98% of the MSCI All Country World Index. BMLL’s data and
analytics, which span more than 100 global trading venues, are utilized by a
diverse range of market participants, brokers, and regulators.
Paul Humphrey, CEO of BMLL.
“We
have an incredibly diverse team of supporting investors, with deep-seated
global market and technology expertise, and we are poised to scale the business
further as we build out and scale our data feed business and futures coverage
and wider product offering globally,” commented Paul Humphrey, the CEO of BMLL.
The funding
round also saw participation from existing investors FactSet, Nasdaq Ventures,
and IQ Capital’s Growth Fund, with CTC Venture Capital joining as a new
investor.
As part of
the investment, Optiver will integrate BMLL’s historical Level 3, 2, and 1 data
into its trading operations, using it to enhance algorithm development,
execution analysis, and market surveillance.
Pat Cooney, Managing Director of Optiver Europe
“The high
quality of BMLL’s data, their advanced analytics tools and their best-in-class
team have together significantly improved our ability to generate insights that
influence our strategies,” Pat Cooney, Managing Director of Optiver Europe, commented.
“We believe these benefits can extend beyond our firm and provide substantial
value to other market participants as well.”
The
investment underscores a growing trend in the financial industry towards a
“buy-to-build” model for market data infrastructure. Rather than
developing and maintaining their own historical data capabilities, firms are
increasingly turning to specialized providers like BMLL for ready-to-use data
sets.
This latest
funding round follows BMLL’s $26 million Series B round in October 2022, which
included investments from FactSet, Nasdaq Ventures, and IQ Capital’s Growth
Fund. Snowflake Ventures later joined that round in September 2023.
We are excited to announce that we have closed our latest funding round securing a $21 million investment. Optiver leads the round, with FactSet, Nasdaq Ventures and IQ Capital’s Growth Fund and Chicago Trading Company Venture Capital also investing.https://t.co/XCW7TYLdbd pic.twitter.com/81OsN3kJLX
— BMLL (@bmlltech) October 1, 2024
BMLL’s Recent Partnerships
and Data Initiatives
BMLL has
been actively expanding its partnerships and data offerings throughout the
year. In June, the company announced a
partnership with INQDATA, a cloud-based data solutions provider. This
collaboration enables financial market participants to access BMLL’s extensive
historical market data within their kdb+ environment.
Earlier in
the year, BMLL joined forces with CCData, an FCA-authorized benchmark
administrator specializing in digital asset data solutions and settlement
indices. This partnership aims to streamline access to data across both
traditional and digital asset markets, providing users with a more
comprehensive view of the financial landscape.
In January,
BMLL completed the first phase of its program to improve customer access to
datasets. The company made three datasets available via the Snowflake
Marketplace, allowing customers to access and analyze BMLL’s data easily.
