CCData and BMLL join forces for Crypto and FX data solutions: Level 3

Rick Steves

“Digital asset traders are now able to access historical data and analytics for all Crypto ETFs and Futures from all traditional US Equity and Futures venues in a single consistent format via BMLL, enabling them to better understand traditional market microstructure on the Crypto markets.”

CCData, a benchmark administrator authorized by the FCA and a leading provider of digital asset data and settlement indices, has announced a strategic partnership with BMLL Technologies, renowned for its provision of harmonized level 3 historical data and analytics.

This collaboration marks a significant step forward in offering advanced data and metrics across both digital and traditional asset markets, responding to the increasing institutional demand for sophisticated digital asset data solutions.

BMLL for access to Level 3 in digital assets

Level 3 data refers to the most granular data available about a security’s order book. It includes all the bids (buy orders) and offers (sell orders) for a security, showing not only the price and quantity of each order but also the identity of market participants placing those orders.

Providing a complete view of the trading activity and depth of the market for a given security, Level 3 data allows traders and institutions to see where orders are concentrated, understand market sentiment, and make informed decisions based on the depth of market demand and supply at various price levels.

Access to Level 3 data is typically restricted to market makers and participants with direct access to the trading floor or electronic trading systems, giving them an advantage in terms of market insight compared to those with access to Level 1 (best bid and offer prices) and Level 2 (order book data without participant identities) data.

 On the heels of first spot Bitcoin ETFs in the US

The partnership aims to simplify access to essential data solutions by combining CCData’s expertise in digital asset data, including L1/L2 Order Book data, with BMLL’s granular order book data and analytics for ETFs and Futures on digital assets.

Access to such highly accurate and reliable Crypto and FX data solutions, capable of streamlining the process of managing, integrating, and processing vast quantities of data, comes at a crucial time, following the approval of the first spot Bitcoin ETFs in the United States.

VanEck, one of the SEC-authorized spot Bitcoin ETF providers, acquired a stake in CCData last month following the regulatory approval of its product.

BMLL Technologies stands out for its access to Level 3, T+1 order book data and analytics, helping financial market participants, academic institutions, and regulators to dissect and comprehend market behavior comprehensively. Its harmonization of Level 3 Data across Equities, ETFs, and Futures into a consistent format further facilitates seamless analysis of both traditional and digital asset markets.

Historical data and analytics for all Crypto ETFs and Futures

Paul Humphrey, Chief Executive Officer at BMLL, said: “We are seeing increasing customer demand for high quality historical data and analytics in the digital asset markets. We are delighted to partner with CCData to provide institutional clients with institutional-grade Crypto data from traditional and digital asset markets. Digital asset traders are now able to access historical data and analytics for all Crypto ETFs and Futures from all traditional US Equity and Futures venues in a single consistent format via BMLL, enabling them to better understand traditional market microstructure on the Crypto markets.”

Charles Hayter, CEO and Co-Founder of CCData, commented: “This partnership with BMLL Technologies marks a significant milestone for CCData, enhancing our capability to meet the escalating demand for comprehensive and reliable financial market data. By combining CCData’s leading digital asset data solutions with BMLL’s expertise in level three historical data and analytics, we are uniquely positioned to empower our clients with access to the advanced data and metrics necessary for navigating the complexities of both traditional and digital asset markets.”

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