BMLL Technologies, a provider of historical market data and analytics, announced today (Tuesday) the integration of comprehensive US equity options data into its platform, expanding its market intelligence offerings.

BMLL Expands Market Data Suite with US Options Coverage

The company is now providing six years of historical Options Price Reporting Authority (OPRA) data at nanosecond precision, available through its cloud-based services. This addition follows BMLL's recent expansion of equities coverage to 98% of the MSCI All-Country World Index.

OPRA is a securities information processor that consolidates and disseminates real-time trading and quotation information for all US exchange-listed options contracts. It collects and distributes complete trading data from all 16 US options exchanges, including last sale prices, quotations, and trading volume, making it the authoritative source for options market data in the United States

"Adding OPRA options data is another significant milestone in our data coverage expansion strategy," said Paul Humphrey, Chief Executive Officer of BMLL. "Including OPRA options in our data and analytics capabilities is a natural evolution for BMLL, driven by customer demand for a best-in-class product."

The timing of this launch is particularly relevant as market participants grapple with increasing data costs and OPRA's planned expansion of data dissemination from 48 to 96 lines in February 2024. The new offering aims to address these challenges by providing cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-based access to approximately 4 terabytes of daily options market data.

"Spiralling data costs and OPRA's expansion have placed a significant burden on market participants, both in terms of managing market data budgets and the necessary data infrastructure," David Robinson, Chief Technology Officer at BMLL, said. “As a result, firms are looking for cloud-based OPRA data services that are easy to access, within their existing workflows.”

The move will help in democratizing market data access and providing institutional investors with tools previously available only to the largest market participants.

BMLL Raises $21 Million as Optiver Takes Stake

The dataset, accessible through BMLL Data Lab and BMLL Data Feed via AWS S3, consolidates information from all major US options exchanges, including BOX, Cboe exchanges, Miami International Securities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, and various Nasdaq venues. Market participants can access the data at multiple levels of conflation to suit their specific requirements.

This expansion comes on the heels of BMLL's recent $21 million strategic investment led by Optiver in October 2024. This latest financing follows BMLL’s $26 million Series B round almost two years ago.

“We have an incredibly diverse team of supporting investors, with deep-seated global market and technology expertise, and we are poised to scale the business further as we build out and scale our data feed business and futures coverage and wider product offering globally,” added Humphrey.

Optiver plans to incorporate BMLL's historical Level 1, 2, and 3 data into its trading operations to improve algorithm development, execution analysis, and market surveillance.

We are excited to announce that we have closed our latest funding round securing a $21 million investment. Optiver leads the round, with FactSet, Nasdaq Ventures and IQ Capital’s Growth Fund and Chicago Trading Company Venture Capital also investing.https://t.co/XCW7TYLdbd pic.twitter.com/81OsN3kJLX

— BMLL (@bmlltech) October 1, 2024

BMLL's Recent Partnerships

Throughout the year, BMLL has also expanded its partnerships and data offerings to enhance data accessibility and integration for financial market participants.

In June, BMLL partnered with INQDATA, a cloud-based data solutions provider, to enable financial market participants to access BMLL's extensive historical market data within their kdb+ environment. This collaboration allows users, including data scientists and application developers, to efficiently access and explore granular historical market data and analytics derived from Level 3 data.

Earlier in the year, BMLL joined forces with CCData, an FCA-authorized benchmark administrator specializing in digital asset data solutions and settlement indices. By combining CCData's digital asset data solutions with BMLL's order book data and pre- and post-trade analytics for ETFs and futures on digital assets, market participants can access accurate crypto and FX data solutions.

In January, BMLL completed the first phase of its program to improve customer access to datasets by making three datasets available via the Snowflake Marketplace.