We are delighted to announce that BMLL has won ‘Best Alliance or Partnership’ at the Waters Tech Sell-Side Technology Awards 2024 for its collaboration with Snowflake. These awards recognise market-leading technologies developed specifically for use by sell-side firms, as well as innovation and addressing the sell-side’s most pressing business, regulatory, operational and technology needs.
In Q4 2023 BMLL partnered with Snowflake to empower market participants globally with granular data and analytics, and revolutionise the way the market interacts with Level 3 Data. At the same time, Snowflake Ventures joined existing Series B investors Nasdaq Ventures, FactSet and IQ Capital.
In January 2024, BMLL announced the initial historical datasets available via Snowflake Marketplace: Daily Classified Trades, Level 2 Quotes and Millisecond CBBO. This completes the first phase of BMLL’s collaboration with Snowflake and is designed to increase how customers can discover, access and evaluate datasets.
The BMLL / Snowflake partnership delivers granular data and analytics to market participants worldwide. Level 3 order book data stored, curated and harmonised by BMLL, is delivered globally via Snowflake Marketplace, removing the need for costly, in-house storage and data engineering while accelerating time to insights.
The partnership will allow Snowflake’s growing number of capital market clients to access BMLL’s data and analytics, at speed and scale. Clients no longer need to own, store, engineer and manage these data sets, time and time again. Instead, they can concentrate on differentiating themselves by what they do with the data, not by owning it. Essentially, this partnership helps firms leapfrog infrastructure planning and implementation time, lower costs, and accelerate time to market.
Paul Humphrey, CEO of BMLL, said: “We are delighted to have been recognised for the ‘Best Alliance or Partnership’ at the WatersTech Sell-Side Technology Awards 2024. Snowflake is aligned with our mission to democratise access to the most granular order book data and analytics on a global scale by eliminating the need for resource-intensive data engineering.
As a result of the collaboration, financial institutions, including Snowflake’s customers, do not need to dedicate time and precious resources in engineering these large unstructured data sets to make them usable. We make our vast warehouse of curated Level 3 data and analytics available to the market so that all participants can optimise their own capabilities.”
FactSet was the first to access BMLL’s data and analytics via Snowflake’s Marketplace.
