BMLL, a firm specialising in data and analytics for global equity and futures markets, has secured a £16m strategic investment.
According to Business Cloud, leading the investment round was Optiver, alongside new investor CTC Venture Capital, with continued support from existing stakeholders such as Nasdaq Ventures, FactSet, and IQ Capital’s growth fund.
The company offers a unique value proposition by providing clients, including banks, brokers, asset managers, hedge funds, and global exchanges, with deep insights through its order book data and analytics. These tools allow clients to derive predictive insights, backtest strategies, and understand market behaviors effectively.
The new funding will primarily be directed towards expanding BMLL’s data feed business, enhancing futures coverage, and broadening its product offerings on a global scale. Over the past 18 months, BMLL has significantly expanded its datasets, now covering 98% of the MSCI All Country World Index, and recently inaugurated a new office in New York.
In the words of Paul Humphrey, CEO of BMLL, “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. 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.”
Adding to the sentiment, Pat Cooney, managing director of Optiver Europe, stated, “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.”
Reflecting on previous achievements, BMLL announced a £23m Series B investment in 2022, which marked the beginning of its expansion into the US with a new office setup in New York.
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