The partnership brings new insights to the workflows of sell- and buy-side clients.
A provider of systems and services for securities operations, Broadridge Financial Solutions is partnering with BMLL Technologies, a provider of Level 3 historical market data and analytics, to offer pre-trade analytics capabilities for Broadridge’s global sell-side order management system (OMS) and Xilix execution management system (EMS) for buy-side firms in Japan, officials say.
“Working with BMLL, we are optimizing trading and delivering transformation by integrating actionable insights and robust analytics directly into the workflows of both global sell-side and Japanese buy-side clients,” explains Brian Pomraning, chief product officer of Broadridge Trading and Connectivity Solutions, in a prepared statement. By integrating BMLL’s data and analytics, Broadridge intends to enhance trading performance and risk management for its clients, Pomraning says.
The integration will help traders using either Broadridge’s OMS or Japanese buy-side clients using the Xilix EMS, “gain instant access” to analytics at the point of order entry, officials say. The BMLL historical data offers traders predictions on execution time, market impact, participation rates, spread costs, and risk exposure via existing workflows.
In addition, Broadridge’s OMS and Xilix EMS now offer users a suite of “actionable insights,” including average daily volumes by trading session, real-time average volume at time (AVAT), remaining volume at time (RVAT), and dynamic execution timing assessments, officials say.
“Our mission has always been to democratize access to our datasets. As a result, we are increasingly witnessing a shift across market participants towards buy-and-build strategies, cementing the fact that owning or engineering vast amounts of data is no longer what differentiates firms. It’s what they do with the data that matters,” says Dr Elliot Banks, chief product officer at BMLL, in a statement.
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