The US Options Price Reporting Authority (OPRA) has numerous vendors for its real-time and historical vendor, but two new entrants claim to offer value in this crowded space, as retail volumes increase.
The collaboration combines Exegy’s real-time OPRA data with BMLL’s historical datasets, aiming to streamline data alignment and reduce engineering complexity for market participants. The approach allows clients to conduct backtesting and research using BMLL’s historical data and transition to real-time trading environments without the need for complex data mapping or translation processes.
OPRA consolidates and disseminates pricing information for listed options contracts from SEC-registered exchanges in the U.S., including quotes, last sale prices, and volume data. Processing OPRA data presents significant data engineering challenges due to its volume and complexity.
Elliot Banks, Chief Technology Officer at BMLL, highlighted the significance of the integration: “We are taking Exegy’s raw unconflated data and applying the same conflation algorithm used in real-time. This ensures a seamless and consistent experience for clients transitioning between historical analysis and real-time application.”
While other vendors, such as Nasdaq, ICE, and LSEG, also offer OPRA data services, BMLL and Exegy claim that their offering distinguishes itself by providing an integrated environment that bridges historical and real-time data using a consistent conflation algorithm. This integration simplifies the workflow for market participants, enabling more effective strategy development and execution, BMLL and Exegy said.
Elliot Banks further noted: “We feel we’re democratising in the way we’ve done for Level 3 data across asset classes.”
