Nordic Capital acquires BMLL to boost financial data transparency

By Vriti Gothi

The transaction marks a significant milestone in BMLL’s journey to deliver the market’s trusted, analytics-ready foundation of high-quality historical data across all major exchange-traded asset classes. Through this partnership, Nordic Capital aims to strengthen BMLL’s position as the market’s premier source of harmonised Level 3, 2 and 1 order book data, empowering financial institutions worldwide with richer insight and greater efficiency.

Founded in 2014 by Cambridge academics, BMLL has established itself as a category leader in capital markets data engineering. Its proprietary process cleanses, standardises and unifies raw market data from more than 120 global venues into a single, consistent format—enabling banks, asset managers, hedge funds, exchanges and market operators to gain unparalleled visibility into market dynamics. Delivered via a cloud-native, analytics- and AI-ready platform, BMLL’s product suite eliminates the need for complex in-house data infrastructure, accelerating insight generation, improving trading performance and maximising return on investment.

“We’ve spent the past decade investing in our award-winning data engineering capabilities and building the industry’s foundational layer of harmonised order book data. The greatest testament and validation of our work is the fact that market participants are now building increasingly sophisticated workflows on top of our data. I am extremely proud of everything our team has delivered over the years, cementing our position as the de facto historical data and analytics provider to the capital markets. Their hard work and unwavering commitment to excellence have made us the category creator and leader we are today,” said Paul Humphrey, Chief Executive Officer of BMLL.

The investment from Nordic Capital includes a significant injection of primary capital, providing long-term funding to support continued innovation and client delivery. BMLL will leverage this capital to expand its global venue coverage, extend historical data depth, and enhance multi-asset class capabilities, offering market participants a robust alternative to incumbent market data providers.