BMLL, the leading, independent provider of harmonised, historical Level 3 Data and analytics, announced a collaboration with Aquis Exchange (Aquis), operator of Pan-European equity trading exchanges, to provide its Members with insights into market structure dynamics, including  venue quality and liquidity analytics. 

Using BMLL’s granular Level 3 Data and analytics, Aquis is able to monitor and evidence liquidity dynamics and provide its Members with third-party, independent verification on the availability of passive liquidity on its own venues versus other European exchanges. This insight helps unlock valuable trading opportunities for Aquis Members, increasing fill probabilities at a better rate and with minimum market impact.

BMLL offers full order book transparency by bringing together granular Level 3 Data from 65 venues across equities, ETFs and futures in one harmonised format. BMLL Level 3 Data captures all individual orders and messages, providing market participants insights into order fill probability; order resting time; and order queue dynamics. What’s more, BMLL’s cloud engineering dramatically improves research and analysis performance: market participants can derive meaningful venue and market quality analytics as well as liquidity and order book dynamic insights to make better informed decisions on the markets they trade and the venues they run.

David Stevens, Chief Revenue Officer of Aquis, said: “As Europe’s 7th largest exchange, we are constantly looking to enhance the liquidity and execution opportunities for our Members. By using BMLL Level 3 Data and advanced analytics we are now able to engage with our Members to compare their trading dynamics on our exchange versus their peer group and to demonstrate that Aquis offers superior trading outcomes for both passive and aggressive strategies. In addition, we are able to evidence our ability to consistently be present at the ‘European Best Bid and Offer’ (EBBO), regularly ranking in the top 2 across European exchanges.”

Paul Humphrey, CEO of BMLL, commented: “We have been collaborating with Aquis Exchange for the last six months and we are delighted to help them showcase the unique strengths of their market model to their Members. Aquis is now able to demonstrate better and deeper liquidity, as well as monitor the performance of the market, improve access to best price and ultimately reduce market impact. We look forward to deepening our collaboration over the coming months.”

BMLL Level 3 Data and analytics are delivered as Data Science as a Service, directly into existing workflows to ensure ease of access and enhanced speed to output.

Source: BMLL