BMLL, an independent provider of harmonised, historical Level 3 data and analytics across global equity and futures markets, welcomed the Johannesburg Stock Exchange (JSE), the largest Stock Exchange in Africa as a new client.
BMLL’s data coverage will extend to include JSE data across equities and exchange traded funds (ETFs), while JSE will leverage BMLL’s Level 3 Data and analytics for cross-venue analysis offering market participants market structure and performance metrics insights.
BMLL provides historical Level 3 data and analytics to banks, brokers, asset managers, hedge funds, academics, regulators and global exchanges, helping them understand how markets truly behave.
Following the $26 million Series B investment round in Q4 2022, BMLL set out its strategy to acquire new data sets globally and integrate these into existing products and analytics capabilities for an ever-expanding customer base.
Adding the JSE data sets complements BMLL’s existing coverage of over seven years of data spanning global equities, exchange traded funds (ETFs) and futures across 65+ trading venues.
Using BMLL’s data and analytics capabilities, will enable the JSE to evidence the quality of execution against a global peer set and provide its members with third-party, independent verification on the availability of liquidity in cross-listed securities, American depositary receipts and Global Depositary Receipts on its own venues versus other exchanges.
In addition, by employing BMLL Data Lab, JSE will be able to back-test, analyse, build and test new products and features.
JSE members will also gain granular insights into market structure dynamics, including venue and liquidity quality, to unlock valuable trading opportunities.
“As Africa’s largest stock exchange, analysis of what influences liquidity dynamics and market share across different trading sessions and securities on our exchange is critical,” said Langa Manqele, head of equities & equity derivatives at the JSE.
Paul Humphrey, CEO of BMLL, added, ” Adding the JSE’s data to our offering will help meet these customer needs. At the same time, we are proud to deliver BMLL Level 3 Data and analytics capabilities to JSE to give them a deeper understanding of venue, liquidity or execution quality and unlock new trading opportunities.
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