Data services company FactSet has partnered with data and analytics company BMLL Technologies (BMLL) to offer order book history and analytics in the cloud.
The collaboration is part of Factset’s efforts to provide cloud solutions that help clients modernise and improve their market data technology.
It also reinforces the company’s commitment to expand its real-time data and tick history capabilities.
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 Level 3 data engineering capabilities, Factset aims to bring a Level 2 product to market, equipping clients with market insights and real-time data.
Through the joint solution with BMLL, clients can now access Level 2 data via application programming interfaces to accelerate research, optimise workflow and trading strategies and generate alpha at speed and scale.
“Our normalisation and harmonisation processes enable us to deliver the cleanest market data available. We are excited to work with FactSet to offer our products and services to its global client base,” says Paul Humphrey, CEO of BMLL.
Jonathan Reeve, executive vice president, head of content and technology solutions at FactSet, adds. “Through our collaboration and investment in BMLL, FactSet is empowering a broader set of clients and democratising access to rich insights derived from the full depth of historic order book data.
“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.”
