Wamid, the
technology division of Saudi Tadawul Group, has formed a multi-year partnership
with BMLL Technologies to deliver the Saudi market’s first white-labeled cloud
analytics platform for institutional investors and quantitative analysts.
The
collaboration will provide market participants in Saudi Arabia with access to
comprehensive historical order book data and the ability to execute complex
financial models through a Python-based environment. This is the first platform
of its kind in Saudi Arabia, representing a major step forward for the region’s
financial technology sector.
It will
enable quantitative teams, analysts, and institutional investors to access
detailed historical trading data while running sophisticated analytical models.
Users will be able to analyze market behavior patterns and optimize trading
strategies through cloud-based tools that eliminate the need for internal data
curation and harmonization.
Paul Humphrey, Chief Executive Officer of BMLL, Source: LinkedIn
“We
are thrilled to partner with Wamid and support the Kingdom’s ambition to create
a more transparent and advanced market ecosystem,” Paul Humphrey, Chief
Executive Officer of BMLL, said. “Our mission at BMLL is to democratize
access to the most sophisticated market data and analytics of the highest
quality, enabling firms to make better-informed decisions.”
BMLL
Technologies, an independent provider of Level 3, 2, and 1 historical market
data, brings extensive global coverage to the partnership. The company’s data
encompasses 100% of the MSCI All Country World Index, including equities, ETFs,
futures, and US equity options across more than 100 trading venues worldwide.
Kingdom’s Capital Markets Get Major Tech Upgrade
The
partnership reflects broader efforts to enhance Saudi Arabia’s capital market
infrastructure and attract institutional investment. By providing access to
advanced analytics tools previously unavailable in the region, the
collaboration aims to support more sophisticated trading strategies and improve
market transparency.
The
platform will deliver T+1 order book data and pre- and post-trade analytics
directly into users’ workflows, enabling applications such as market impact
analysis, order book simulation, and compliance monitoring. This eliminates
traditional barriers associated with data acquisition and processing for
financial institutions operating in the Saudi market.
The
partnership reflects Wamid’s ongoing efforts to bring advanced financial
technology to Saudi Arabia, supporting Saudi Tadawul Group’s broader market
development goals.
BMLL Background and
Funding
BMLL
Technologies, founded in 2014 within the machine learning laboratories of the
University of Cambridge, recently secured $21 million in funding during Q4
2024. The investment round was led by Optiver, with participation from CTC
Venture Capital and existing investors including Nasdaq Ventures, FactSet, IQ
Capital’s Growth Fund, and Snowflake Ventures.
The company
has raised a total of $83 million across multiple funding rounds, including a
$26 million Series B investment in 2022/2023 and $36 million through Series A
and seed rounds. This financial backing has supported BMLL’s expansion across
global financial markets and development of its cloud-native data science
platform.
This Wamid move marks
another collaboration for BMLL this year, following its expanded partnership
with Exegy several months ago, which concentrated on combining historical and
real-time data for U.S. equity options trading.
Earlier,
the company also established a partnership with Pico, a financial markets
technology service provider, designed to address increasing demand for
concurrent access to both real-time and historical data, with objectives of
enhancing research capabilities, liquidity analysis, and trading performance.
Wamid, the
technology division of Saudi Tadawul Group, has formed a multi-year partnership
with BMLL Technologies to deliver the Saudi market’s first white-labeled cloud
analytics platform for institutional investors and quantitative analysts.
The
collaboration will provide market participants in Saudi Arabia with access to
comprehensive historical order book data and the ability to execute complex
financial models through a Python-based environment. This is the first platform
of its kind in Saudi Arabia, representing a major step forward for the region’s
financial technology sector.
It will
enable quantitative teams, analysts, and institutional investors to access
detailed historical trading data while running sophisticated analytical models.
Users will be able to analyze market behavior patterns and optimize trading
strategies through cloud-based tools that eliminate the need for internal data
curation and harmonization.
Paul Humphrey, Chief Executive Officer of BMLL, Source: LinkedIn
“We
are thrilled to partner with Wamid and support the Kingdom’s ambition to create
a more transparent and advanced market ecosystem,” Paul Humphrey, Chief
Executive Officer of BMLL, said. “Our mission at BMLL is to democratize
access to the most sophisticated market data and analytics of the highest
quality, enabling firms to make better-informed decisions.”
BMLL
Technologies, an independent provider of Level 3, 2, and 1 historical market
data, brings extensive global coverage to the partnership. The company’s data
encompasses 100% of the MSCI All Country World Index, including equities, ETFs,
futures, and US equity options across more than 100 trading venues worldwide.
Kingdom’s Capital Markets Get Major Tech Upgrade
The
partnership reflects broader efforts to enhance Saudi Arabia’s capital market
infrastructure and attract institutional investment. By providing access to
advanced analytics tools previously unavailable in the region, the
collaboration aims to support more sophisticated trading strategies and improve
market transparency.
The
platform will deliver T+1 order book data and pre- and post-trade analytics
directly into users’ workflows, enabling applications such as market impact
analysis, order book simulation, and compliance monitoring. This eliminates
traditional barriers associated with data acquisition and processing for
financial institutions operating in the Saudi market.
The
partnership reflects Wamid’s ongoing efforts to bring advanced financial
technology to Saudi Arabia, supporting Saudi Tadawul Group’s broader market
development goals.
BMLL Background and
Funding
BMLL
Technologies, founded in 2014 within the machine learning laboratories of the
University of Cambridge, recently secured $21 million in funding during Q4
2024. The investment round was led by Optiver, with participation from CTC
Venture Capital and existing investors including Nasdaq Ventures, FactSet, IQ
Capital’s Growth Fund, and Snowflake Ventures.
The company
has raised a total of $83 million across multiple funding rounds, including a
$26 million Series B investment in 2022/2023 and $36 million through Series A
and seed rounds. This financial backing has supported BMLL’s expansion across
global financial markets and development of its cloud-native data science
platform.
This Wamid move marks
another collaboration for BMLL this year, following its expanded partnership
with Exegy several months ago, which concentrated on combining historical and
real-time data for U.S. equity options trading.
Earlier,
the company also established a partnership with Pico, a financial markets
technology service provider, designed to address increasing demand for
concurrent access to both real-time and historical data, with objectives of
enhancing research capabilities, liquidity analysis, and trading performance.
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