The combination of wares is intended to help market participants measure execution quality against historical baselines.
BMLL, a provider of Level 3, 2 and 1 data and analytics, has partnered with SIGMA AI, a provider of real-time intelligence for financial markets, to build an intelligence layer that will allow market participants to “contextualize live market flow against deep historical benchmarks,” officials say.
“The combination will create a product category that doesn’t exist today and will help market participants measure execution quality against historical baselines. The solution is intended for global trading. It will initially focus on Saudi Arabia, the U.K. and European instruments before expanding to the U.S., bridging the gap between historical reporting and real-time actionable insights,” officials say.
In particular, the partnership will combine BMLL’s historical order book data with SIGMA’s real-time support, officials say.
“BMLL will bring its definitive historical Level 3, 2 and 1 order book data to establish baseline metrics around volatility, liquidity, spread behavior, and auction dynamics. SIGMA AI will add its ‘Quant in the Cloud’ streaming platform, applying continuous real-time computation, machine learning inference, and natural language delivery to live market data,” officials say.
The combined approach is intended to enable SIGMA’s platform users to “detect anomalies, classify market regimes, and generate actionable alerts by continuously comparing live market conditions to the historical context provided by BMLL,” officials say.
“Anticipated users include exchanges and market data providers, low-touch and high-touch buy-side institutions, sell-side brokers and platform vendors, as well as market makers and quantitative firms. Use cases will include execution intelligence and benchmarking, market impact scoring and regime classification,” officials say.
Is your company featured in this article? Contact us about reprints or licensing.
Leave a Reply