Depth of book data provider BMLL and real-time data services provider Quanthouse, part of Iress, have collaborated to expand buy-side data analysis capabilities across equities and futures.
Paul Humphrey
The collaboration will combine BMLL’s historical Level 1, 2 and 3 data with Quanthouse’s real-time service in a bid to allow hedge funds and asset managers to better understand market behaviours and test their investment strategies.
This will help them to achieve alpha “more predictably”, BMLL chief executive Paul Humphrey told The TRADE.
“Making QuantHouse’s real-time and BMLL’s historical data available at the same time is a game-changer because it removes costly and complex data engineering requirements,” he explained.
“Buy-side firms are now able to accelerate time to insights and time to market, helping them maintain a competitive advantage. This partnership delivers the buy-side with both historical and real-time data sets to help them understand how markets truly behave.”
The pair went through a process of “data symbology” prior to announcing their partnership. All data is now harmonised and available in one format across all venues and asset classes, in order to better allow firms to analyse real-time data and historical data simultaneously.
“What we are witnessing across the industry is a rising demand for high-quality datasets to carry out research, understand liquidity dynamics and make better-informed trading decisions,” added Humphrey.
“The challenge is that the data engineering required to harmonise data sets from across different venues and asset classes is often cost-prohibitive. What buy-side firms need is high-quality, granular data, delivered in a harmonised, ready-to-use format.”