BMLL, a provider of historical Level 3 data and analytics across global equity and futures markets, has successfully raised $26 million in a Series B funding round led by Nasdaq Ventures, FactSet, and IQ Capital.
BMLL’s clients, including banks, brokers, asset managers, hedge funds, and global exchanges, can access the company’s order book data and analytics, which enable them to derive predictive insights, backtest strategies for generating alpha, and understand market behavior. Notable clients include the FCA, Kepler Cheuvreux, Jefferies, as well as European exchanges SIX and Aquis.
The new funding will be used to acquire additional global data sets, enhance BMLL’s engineering capabilities, and expand its presence in North America with the opening of a new office in New York.
Paul Humphrey, CEO of BMLL, stated, “The investment is a testament to the increasing need for more sophisticated tools to truly understand how markets behave and drive performance. Our granular Level 3 data and analytics capabilities help market participants unlock the full potential of historic pricing data and make more informed decisions.”