Data and analytics company BMLL has partnered with Aquis Exchange to provide its members with insights into market structure dynamics, including venue quality and liquidity analytics.
Leveraging BMLL’s Level 3 data and analytics will enable Aquis 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.
BMLL says that the mandate aims to increase fill probabilities at a better rate and with minimum market impact.
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.
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.
“As Europe’s seventh largest exchange, we are constantly looking to enhance the liquidity and execution opportunities for our members,” says David Stevens, chief revenue officer of Aquis.
He adds, “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.”
Paul Humphrey, CEO of BMLL, says, “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.”
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