London-based index and data provider Ultumus has selected BMLL as they seek to enhance data and analytics for ETF market participants.
Paul Humphrey
Through the partnership, Ultumus will leverage BMLL data offering to provide insight into the ETF trading efficiency of the firm’s portfolio composition file (PCF) service for clients across the global.
Additionally, the offering is expected to bring tighter spreads, improved pricing precision, trading efficiency and data quality to the ETF market, and will see Ultumus combine its reference and index data with BMLL’s historical level 1,2, and 3 market data and analytics.
BMLL’s global customer base will also now be able to access Ultumus’ ETF reference data, as well as ETF issuer-published metrics.
Paul Humphrey, chief executive of BMLL, said: “We’re very excited to collaborate with Ultumus as our global customer base is now able to use these combined data sets to deepen their understanding of ETF liquidity dynamics, how these shift over time, and gain insights that will help them differentiate themselves in a competitive landscape.”
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As part of the collaboration, the firms have said that a European ETF issuer has already made use of the offering, and through the combined data and analytics, noted a 16% reduction in spread threshold breaches, as well as a 12% performance growth through spread performance analysis.
“By utilising BMLL’s granular Level 3 data and analytics, we’re able to quantify how accurate, timely fund data improves trading outcomes and market efficiency for clients using Ultumus’ Portfolio Composition File (PCF) service,” said Bernie Thurston, chief executive of Ultumus.
“This collaboration underscores our commitment to innovation and to delivering real benefits for ETF issuers and the broader trading ecosystem.”
In June, BMLL announced a multi-year strategic partnership with Wamid, the technology and innovation arm of Saudi Tadawul Group (STG), to offer the market white-labelled cloud analytics tools – aimed at institutional investors, quants and analysts, the first of its kind for the Saudi market.
The firm also enhanced its established partnership with Exegy in March, as part of an effort to deliver a unified data stream for historical OPRA options data.