BMLL has launched Trades Plus, a new dataset designed to provide global market participants with a single, harmonised feed for detailed trade and execution analysis, which has been developed in consultation with the firm’s Client Product Advisory Board (CPAB).
Trades Plus combines trade-by-trade data with proprietary trade classifications, quote-based analytics, and extensive trade flags, allowing users to conduct transaction cost analysis, backtest execution algorithms, and identify liquidity opportunities without extensive coding or data wrangling.
In a press statement, Dr Elliot Banks, Chief Product Officer at BMLL, said the product eliminates a time-consuming process for traders and analysts. “BMLL Trades Plus is solving a real-world problem,’ he said. “Our CPAB members told us they spend ‘all day long grappling with poor data’ and wanted to be able to get this new dataset off the shelf.”
The dataset provides a comprehensive view of all on- and off-exchange trading activity, including dark pool trades, closing auctions, and other execution types. It also incorporates trade flags such as retail, odd-lot, and block trades, and provides order book analytics to calculate metrics like spread capture, price improvement, and volume- or time-based mark-outs.
Trades Plus is available immediately in Europe through the BMLL Data Lab research environment and the BMLL Data Feed via AWS S3, API, SFTP, and Snowflake, with the US version expected in early Q4 2025.
