Took it upon themselves: Broadridge teaming up with BMLL Technologies for improved financial market data solutions
In a strategic move to bolster its offerings, Broadridge Financial Solutions has partnered with BMLL Technologies. This partnership aims to facilitate new pre-trade analytics capabilities within Broadridge's global sell-side Order Management System (OMS) and Xilix Execution Management System (EMS) for buy-side firms in Japan.
Founded in 2014 out of the University of Cambridge, BMLL Technologies brings advanced pre-trade analytics to the table. The partnership offers real-time, actionable market intelligence and predictive insights directly at the point of order entry, seamlessly incorporated into Broadridge’s existing OMS and Xilix EMS workflows without disrupting user experience.
The pre-trade analytics features include execution time predictions, market impact assessments, participation rate predictions, spread cost analytics, risk exposure metrics, volume-based metrics such as Average Volume At Time (AVAT) and Remaining Volume At Time (RVAT) during trading sessions, and automated order routing capabilities. These capabilities leverage BMLL’s Level 3 historical market data and robust analytics, enabling traders in Japan to better optimize their decisions, improve trading performance, and effectively manage risk.
Brian Pomraning, chief product officer of Broadridge Trading and Connectivity Solutions, commented on the partnership, stating, "This partnership will allow Broadridge to offer pre-trade analytics directly through its EMS and OMS platforms, using BMLL's high-quality historical data."
Elliot Banks, chief product officer at BMLL, expressed excitement about the partnership with Broadridge, adding, "The partnership will not only focus on providing insights but also empowering Broadridge with the tools to dynamically create custom analytics across global markets."
The partnership also aims to further enhance Broadridge's ability to meet its clients' demands and improve trading performance. By providing traders with predictions on execution time, market impact, participation rates, spread costs, and risk exposure, the partnership equips Japanese buy-side users of Xilix EMS and Broadridge’s sell-side clients with tools designed to enhance execution strategy and risk management at the moment of order entry.
Moreover, the partnership will enable Broadridge to provide pre-trade algorithms for its customers at speed and scale. BMLL's data includes harmonized, Level 3, 2, and 1 historical data and analytics, covering global equities, ETFs, futures, and US equity options.
BMLL's mission is to democratize access to its datasets, leading to a shift towards buy-and-build strategies among market participants. The partnership will also provide visual displays of intraday trading patterns to inform decisions before execution. BMLL's infrastructure is ISO27k-certified, ensuring high levels of security and reliability.
Broadridge's technology and platforms support daily trading of over $10 trillion of equities, fixed income, and other securities globally. The partnership aims to empower clients to achieve better outcomes, enhancing trading performance, managing risk, and meeting their own clients' demands.
With the integration of BMLL's advanced pre-trade analytics, Broadridge's clients in Japan can expect improved decision-making capabilities, enhanced trading performance, and better risk management, all within their existing workflows.
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