Until now, market participants could only navigate fragmented markets by using a variety of complex mechanisms. European trades have multiple regimes and ways to trade with no consistent way to report. Complexities such as periodic auctions and transparency waivers must be considered. Off book trade reporting can be slow, delayed or difficult to aggregate.
BMLL provides a granular, historical consolidated tape of all European liquidity. Market participants can query individual stocks, indices or the entire portfolio to map every execution venue and every trading mechanism.
The BMLL Data Feed Trade Classification: Granular Trades is a new API that provides trade information across all equity exchanges, MTFs and Approved Publication Arrangements (APAs) in a simple, normalised format aggregated on a daily basis per symbol.
Sell-side — Understand trading landscape and market structure to drive algorithm performance.
Exchanges — Track regulatory changes, monitor peers and analyse market share.
- Full coverage across all EU trade reports, APAs, MTFs and equity venues.
- Built from raw granular data - taken directly from source PCAPs and Exchanges.
- A normalised single, consistent view of all trades from all venues across EU equities.
- Corrections, amendments and cancellations are incorporated.
- You always see the true view. Simple query function - highly performant query across instruments, over time.
- Ease of use and integration with other products, including the BMLL Data Lab.
- Query on individual symbols to multiple stocks to get a detailed breakdown by execution venue, trade mechanisms.
- Data available 4+ years of history in Europe
BMLL metrics are derived from every single insert, modify, execute or delete order message across every venue, available at daily and intraday resolution.
Contact us to produce custom Level 3 data bundles to fit your specific needs.