Recently, BMLL announced a significant partnership with Snowflake, marking a substantial step in data democratisation. This collaboration secured an investment for BMLL from Snowflake Ventures and promises the global delivery of granular, Level 3 order book data and analytics. This alliance highlights BMLL’s exceptional capability in managing vast financial market data in the cloud.
In the past year, BMLL has experienced substantial growth. Following their Series B funding, they expanded their geographical coverage to include countries like Japan, Australia, and South Africa. Concurrently, the company strengthened its technical, data, and sales teams, and even established its first office in the USA.
The pressing question was: how could they enhance data accessibility for their growing clientele?
The market demonstrates a growing demand for global content, with participants seeking comprehensive insights into market dynamics, liquidity changes, and opportunities for alpha generation. To satisfy this need, they must not only access impeccable historical data but also integrate it with their proprietary order and trade details. The BMLL-Snowflake collaboration provides clients with control over their data within the secure Snowflake cloud environment.
Introducing BMLL’s market data to the Snowflake Marketplace extends its availability to a more diverse range of capital market entities. Snowflake’s comprehensive cloud-native platform eliminates traditional challenges of data engineering and maintenance costs. Clients can then focus on unlocking the potential of the data rather than managing it. This partnership ensures improved infrastructure readiness, reduced expenses, and faster market entry.
Furthermore, Snowflake Marketplace’s discerning users can now effortlessly share BMLL data within their organizations. This eliminates unnecessary data replication across departments, promoting broader data access. Such collaborations create a cycle of innovation and differentiation. The Snowflake Marketplace serves as an enabler, allowing worldwide users to access curated content, with early adopters already benefiting immensely.
Data democratisation and cost-saving are intrinsically linked.
Given the current financial limitations in the industry, promoting data democratisation is crucial. Traditional infrastructure expenses often inhibit insights and innovation. However, with BMLL data available on the Snowflake Marketplace, these obstacles are diminished. Clients can avoid the significant quantitative resources usually earmarked for data management, aggregation, and storage.
A sentiment expressed in 2020 marked the end of the speed race, ushering in a global pursuit of premier data and analytics. The BMLL-Snowflake partnership, leveraging cloud technology, plays a central role. This dedication to offering market participants diverse data access options underscores the essence of the democratization movement.