Data provider BMLL added support for three Asian exchanges

In its recent announcement, an independent provider of historical Level 3 data and analytics, BMLL, revealed that it had made a move to expand its data coverage. The company, which offers data and analytics for global equity and futures markets, has added three new markets in Asia.

The platform now also offers Level 3 data from Singapore Exchange, CBOE Japan, and Japannext as part of the new expansion. The expansion complemented the data from Tokyo Stock Exchange, which was made available previously, covering equities and ETFs.

BML adds data from three major Asian markets

According to BMLL’s CEO, paul Himphrey, the demand for high-quality historic market data is massive. It grew rather exponentially over the years, as participants understood that they have to understand the market and venue behavior across EMEA, US, and APAC. Investors need to have a full picture of different market aspects, including quality, order dynamics, liquidity, and alike, in order to make the best possible decisions when making their moves.

BMLL has been offering its services since 2014 when it was established. So far, it has attracted multiple Tier-1 clients, such as exchanges, investment banks, buy-side companies, and more. Some of the specific clients include the NYU-s Quant Team, the FCA, as well as Kepler Cheuvreux’s teams.

As for its Level 3 data, it comes from 64 different venues, covering 3 different asset classes. With this latest addition, a number of buy-side firms and sell-side execution companies are expected to benefit, particularly when it comes to those that seek to improve their products using Level 3 analytics and data from order books.

Humphrey continued by saying that the company sees it as its personal mission to democratize access to Level 3 data and analytics. This newest move will allow it to widen its data coverage across global jurisdictions.

Further expansions to be expected

Phase one of the firm’s APAC data coverage expansion is complete, and so now, the company is focused on delivering on the strategy that it set out following after the Series B fundraised in October. Of course, the platform does not intend to stop here, and further exchange coverage should be expected in due time. When exactly it might happen and which exchanges will be included will be announced when BMLL decides that the time is right.

For now, the addition of data from the three Asian exchanges comes as only the first step in the firm’s expansion into the Asia Pacific region. There have been no official announcements or even hints regarding where the company might go next. However, it is determined to continue its expansion.

Expansion originally started several months after the firm completed its Series B funding round, as mentioned earlier. The round was very successful, allowing the company to raise $26 million, all of which is meant for expansion across global markets. It was also far more successful than earlier rounds, which only brought $11.7 million to the firm.