FactSet and BMLL Technologies Collaborate to Provide Cloud-Based Granular Historical Tick Data and Analytics

Rhea-AI Summary

FactSet (NYSE:FDS) has announced a collaboration with BMLL Technologies to enhance its cloud-based offerings by integrating BMLL's granular order book history and analytics. This partnership aims to address data quality in Level 2 offerings, delivering a new Level 2 Tick History product to clients for better market insights. The collaboration supports FactSet's strategy to modernize market data technology and improve its real-time data capabilities. Additionally, FactSet co-led a $26 million Series B investment round for BMLL, aiming to provide high-quality data access for informed investment decisions.

Positive

• Collaboration with BMLL to enhance cloud-based analytics and data offerings.
• Launch of new Level 2 Tick History product for improved market insights.
• Strengthens FactSet's commitment to modernize market data technology.
• Co-led a $26 million Series B investment in BMLL, expanding access to high-quality data.

Negative

• None.

NORWALK, Conn., Dec. 06, 2022 (GLOBE NEWSWIRE) -- FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading services, today announced its collaboration with BMLL Technologies (BMLL) to offer the company’s granular order book history and analytics in the cloud.

The initial release of the FactSet-BMLL offering includes “Market by Price” Level 2 Tick History, which addresses the data quality challenges with current industry Level 2 offerings. By building upon BMLL’s leading historic Level 3 data engineering capabilities, FactSet is bringing a best-in-class Level 2 product to market, equipping clients with deep market insights and real-time data.

BMLL’s high-quality, cloud-native data and analytics offer the breadth and depth of venue coverage that seamlessly complement the needs of FactSet clients across a wide range of use cases, including Quant Research, Back Testing, Best Execution, Transaction Cost Analysis (TCA), Compliance, Surveillance and Risk.

The collaboration represents a continuation of FactSet’s strategy to provide innovative cloud solutions that help clients modernize and improve their market data technology and reinforces the company's commitment to expand its real-time data and tick history capabilities.

FactSet recently made its entire global archive of Level 1 Tick History across 300+ venues accessible via a cost-optimized solution in Snowflake, enabling clients to access ready-to-query, normalized data without having to download and store petabytes of data themselves. The tick data can be easily combined with any of FactSet’s other content sets available in Snowflake, such as Corporate Actions, Symbol History, Sentiment Data, Fundamental Data, Event Transcript Data, and more.

Through the joint solution with BMLL, clients can now access Level 2 Data via the same symbology and APIs as the Level 1 Tick History on a common delivery platform to accelerate research, optimize workflow and trading strategies, and generate alpha at speed and scale.

In connection with this collaboration, FactSet co-led BMLL’s latest $26 million Series B investment round to empower the financial community to make more informed investment decisions by accessing high-quality data and analytics.

Paul Humphrey, CEO, BMLL, said: “BMLL is a specialist provider of historic Level 3 Data. Our unique industry-leading normalization and harmonization processes, capturing every message at nanosecond precision timestamps, enable us to deliver the cleanest market data available anywhere in capital markets. We are excited to work with FactSet to offer our products and services to its global client base.”

Jonathan Reeve, EVP, Head of Content and Technology Solutions, FactSet, said: “Through our collaboration and investment in BMLL, FactSet is empowering a broader set of clients and democratizing access to rich insights derived from the full depth of historic order book data, which was previously only available to those with dedicated infrastructure and in-house capabilities to curate this level of data and analytics. We share a common vision with BMLL and look forward to delivering a differentiated advantage to our clients by leveraging the full power of Level 3 granular tick data.”

For more information on FactSet’s Tick History solutions, visit: FactSet Tick History Solutions | FactSet.

About FactSet

FactSet (NYSE:FDS | NASDAQ:FDS) delivers financial data, analytics, and open technology in a digital platform to help approximately 180,000 users see more, think bigger, and do their best work. We empower the financial community to acquire new insights with access to comprehensive and contextualized content, multiply their effectiveness with flexible next-generation workflow solutions powered by innovative technologies, and achieve more with the support of specialist teams committed to client success. As a member of the S&P500, we're committed to sustainable growth, with a company-wide emission reduction target in line with the Science Based Targets Initiative (SBTi), and a score of 100 on the Human Rights Campaign® Corporate Equality Index for our LGBTQ+ inclusive policies and practices. Subscribe to our thought leadership blog at insight.factset.com. Learn more at www.factset.com and follow us on Twitter: www.twitter.com/factset and on LinkedIn: https://www.linkedin.com/company/factset.

About BMLL Technologies 

BMLL Technologies is the leading, independent provider of harmonized, Level 3 historical data and analytics to the world’s most sophisticated capital market participants. BMLL offers banks, brokers, asset managers, hedge funds, and global exchange groups immediate and flexible access to the most granular Level 3, T+1 order book data and advanced analytics, enabling them to accelerate research, optimize trading strategies and generate alpha at unparalleled speed and scale.

Founded in 2014 in the machine learning laboratories of the University of Cambridge, the platform enables researchers and quants across global financial services firms to apply complex statistical techniques to BMLL’s unique big-data sets with applications such as market impact, pre- and post-trade analytics, order book simulation, and compliance. Users no longer need to buy, curate, and harmonize data. With BMLL, they gain cost-effective, instant access to a cloud-native Data Science environment via a single web portal with a long history of the most granular, full order book data across global equities, futures, and ETFs for back-testing and simulation delivered directly into their workflows.

For more information, please visit our website and follow us on Twitter @bmlltech and LinkedIn. 

Investor Relations: 
Kendra Brown 
+1 (203) 810-2684 
kbrown@factset.com

Media Relations: 
Megan Kovach 
+1 (512) 736-2795 
megan.kovach@factset.com

FAQ

What is FactSet's new collaboration with BMLL Technologies about?

FactSet's collaboration with BMLL Technologies focuses on integrating granular order book history and analytics into cloud-based solutions, enhancing market data offerings.

What does the new Level 2 Tick History product by FactSet offer?

The Level 2 Tick History product offers improved data quality and deep market insights, addressing challenges in existing Level 2 offerings.

How much did FactSet invest in BMLL Technologies?

FactSet co-led a $26 million Series B investment round in BMLL Technologies to empower financial community access to high-quality data.

What strategic goals does FactSet's collaboration with BMLL aim to achieve?

The collaboration aims to modernize market data technology and expand real-time data capabilities for FactSet's clients.