BMLL Technology

BMLL Trades provides a complete trade-by-trade view of the market, capturing every trade across multiple execution venues and trading mechanisms (including OTC, dark, and continuous trading). By incorporating trade amendments, using the highest-granularity exchange timestamps, and providing consistent trade condition codes, the BMLL Trades product provides the most detailed view of historical trading activity available. Use cases: Buy-side - backtest strategies, generate alpha and perform TCA and execution analysis Sell-side - backtest execution algorithms, improve smart order routers and demonstrate best execution Exchanges - analyse market share across fragmented venues and mechanisms What’s Included: A normalised view of trade information across all major European equity venues MMT flags (where available) and exchange trade condition codes included Nanosecond or microsecond precision timestamps, based on order-matching engines.

Both time of trade and publication are included for delayed trade reporting Amended or cancelled trades included Aggressor side identified for lit trading using BMLL’s Level 3 order book data Coverage includes all European primary and secondary markets plus trade reporting facilities, including off-book, conditional and periodic auction mechanisms Sample Dataset: Trainline PLC (TRN) across January 03 2023. All sample fields are featured in the data dictionary. Custom Datasets: Custom BMLL market datasets are also available (based on instrument, MIC, or region).