KCx joins forces with BMLL in accelerating the deployment of their innovative trading platform
In a significant move, Kepler Cheuvreux has joined BMLL's products advisory board, seeking to guide the direction of the firm's data offerings. This alliance has proven fruitful for Kepler Cheuvreux, as their new KCx Spark dark-order placement model has significantly increased the company's market share this year.
Elliot Banks, chief product officer at BMLL, acknowledges the challenges firms face in maintaining the infrastructure to store massive data volumes, especially since data classifications are constantly evolving. He states that by partnering with BMLL, firms like Kepler never have to pause to reengineer their data systems.
BMLL collects raw exchange data directly from trading venues and presents it in a globally harmonized and normalized format. This data is crucial for Kepler Cheuvreux's smart order router, KCx Spark. The detailed insights into trading intentions across markets provided by BMLL's historical Level 3 data enable KCx Spark to intelligently access the right liquidity pools across fragmented European markets, ensuring best execution by understanding precisely when and where to engage specific liquidity.
Robert Miller, head of market structure & liquidity solutions at Kepler Cheuvreux, emphasizes the importance of the execution experience in today's market. He believes that with BMLL's data, Kepler Cheuvreux can optimize the trading experience and improve execution outcomes.
Paul Humphrey, CEO of BMLL, describes the use of historical data as a new paradigm for supplying market data. He is optimistic about the market share of firms like Kepler, as they can be more dynamic in their infrastructure decisions. Humphrey also argues that this partnership provides an opportunity for firms like Kepler to be more dynamic when it comes to competing with the bulge brackets.
Kepler Cheuvreux is steadily expanding KCx Omni, an advanced event-driven equities trading system. The first phase of this project is the implementation of KCx Spark, a new smart order router. With BMLL's data, Kepler Cheuvreux's KCx Spark smart order router is now live and faster, enabling the firm to access more liquidity and choose optimal venues for each strategy.
BMLL also provides access to the BMLL Data Lab, a cloud-based Python environment containing a library of custom-built APIs for large-scale market structure research and algorithm back-testing. This allows Kepler Cheuvreux to focus on value-added analytics rather than collecting and cleaning data. With BMLL handling data, Kepler Cheuvreux's brilliant people can spend more time on innovation rather than data crunching.
Kepler Cheuvreux continues to win new business and is on the radar of many buy-side firms. The company's collaboration with BMLL seems to be a significant factor in this success. Paul Humphrey, CEO of BMLL, is confident that this relationship has contributed to Kepler's growth since 2022.
In conclusion, the partnership between Kepler Cheuvreux and BMLL is proving to be a winning combination. By leveraging BMLL's data-driven solutions, Kepler Cheuvreux is able to focus on its core competencies, innovate, and grow its market share.
- The alliance between Kepler Cheuvreux and BMLL has enabled Kepler Cheuvreux to improve their trading experience and execution outcomes, as seen with the implementation of KCx Spark, their new smart order router.
- BMLL's historical Level 3 data offers detailed insights into trading intentions across markets, which helps KCx Spark to intelligently access the right liquidity pools, ensuring best execution by understanding precisely when and where to engage specific liquidity.
- By partnering with BMLL, firms like Kepler Cheuvreux never have to pause to reengineer their data systems, enabling them to focus on value-added analytics rather than collecting and cleaning data, thanks to the BMLL Data Lab's cloud-based Python environment.
- Kepler Cheuvreux's ongoing collaboration with BMLL seems to be a significant factor in the company's growth since 2022, as it has allowed them to expand their market share and win new business, particularly among buy-side firms.
