We are delighted to announce that BMLL won “Most Innovative Cloud-Based Market Data Delivery" at the A-Team Innovation Awards 2024 for its collaboration with Snowflake.
These awards recognise innovative projects and teams across the vendor and practitioner communities that make use of new and emerging technologies to deliver high-value solutions for financial institutions in capital markets.
In Q4 2023, BMLL entered into a strategic partnership with Snowflake to empower market participants globally with granular data and analytics and revolutionise the way the market interacts with historical data.
As a result of the partnership, Level 2 order book data stored, curated and harmonised by BMLL, is delivered globally via the Snowflake Marketplace, removing the need for costly in-house storage and data engineering while accelerating time to insights. Snowflake’s growing number of capital market clients can access BMLL’s data and analytics at speed and scale.
Paul Humphrey, CEO of BMLL, said: “We are thrilled to have been recognised for “Most Innovative Cloud-Based Market Data Delivery" at the A-Team Innovation Awards 2024. Snowflake is aligned with our mission to democratise access to high quality, historical data because BMLL’s data and analytics is one of the best use-cases for large-scale, financial market data in the cloud.
With the collaboration, financial institutions, including Snowflake’s customers, 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, the partnership helps firms leapfrog infrastructure planning and implementation time, lower costs, and accelerate time to market.”
In January 2024, BMLL announced the initial datasets available via the Snowflake Marketplace: Daily Classified Trades, Level 2 Quotes and Millisecond CBBO. This completes the first phase of BMLL’s collaboration with Snowflake created to increase the ways in which customers can discover, access and evaluate datasets.
Snowflake Ventures joined the BMLL Series B $26m investment round in September 2023, at the same time as Snowflake entered into a global data partnership with BMLL.
