BMLL Technologies has entered into an agreement with outsourced market data services provider EOSE to distribute its Derived Data Service to new clients and industry players.
EOSE will act as an outsourced sales resource for BMLL, working with its data product and sales team to reduce the firm’s time to market in a bid to expand its outreach to banks, buy- and sell-side firms, as well as the hedge fund community globally.
“Working with EOSE will complement our efforts to reach a much wider segment of the industry and ensure that our data and analytics tools are made available to market participants as we navigate these increasingly volatile times,” said Paul Humphrey, CEO of BMLL Technologies.
BMLL’s Derived Data Service offers market participants metrics from granular order book data that can be integrated with trading systems. The firm claims this allows clients to use niche techniques alongside machine learning technology for data across market impact, pre- and post-trade analytics, order book simulation, and compliance.
“We provide BMLL with additional resources to bolster their internal sales functions and go-to-market capacity, with the flexibility to expand the team as their needs change. We look forward to working with the BMLL sales team to take their data products to a wider audience,” said Suzanne Lock, the founder of EOSE
Humphrey added that in recent months, with unprecedented spikes in volatility and trading volumes, BMLL has seen a 2.5-3X increase in the quantum of data produced by trading venues.
“It is now more important than ever for trading participants to have a clear view of what is actually happening in the markets and extract the maximum value from the data they consume, in order to make well-informed decisions,” Humphrey said.