An independent provider of data and analytics across global equity and futures markets has raised £16 million in strategic investment.
The round into London-based BMLL was led by Optiver and featured new investor CTC Venture Capital, with continued backing from existing investors Nasdaq Ventures, FactSet and IQ Capital’s growth fund.
Its clients include banks, brokers, asset managers, hedge funds and global exchanges. These can access its order book data and analytics to derive predictive insights, backtest strategies and gain an understanding of how markets behave.
In 2022 BMLL announced £23 million Series B investment and the opening of an office in New York. Over the last 18 months, it has added more than 40 equities and futures datasets across the globe and today covers 98% of the MSCI All Country World Index.
“We are thrilled to welcome Optiver as a significant shareholder and are delighted to have the ongoing support from our existing investors who have backed the latest round,” said 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.”
Pat Cooney, managing director of Optiver Europe, said: “Optiver traders, quantitative researchers and developers rely on historical data to shape our pricing strategies, making data science and research a key part of our mission to improve markets.
“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. We believe these benefits can extend beyond our firm and provide substantial value to other market participants as well.”