BMLL Technologies, a data analytics and engineering firm, made an announcement today. The announcement was its collaboration alongside the OpenFin financial technology provider. Together, these two groups will develop Derived Data, a desktop application within the OpenFin OS.

A New Data Analytics Platform On OpenFin US

The new application will serve buy-side users by providing access to market metrics, which in turn was created via the most granular level 3 order book data. Through this, it will analyze and visualize the user’s portfolio over time.

The firm went into detail, explaining that this will allow portfolio managers, traders, as well as compliance and risk officers, to garner greater insights in regards to the risks of their portfolio and associated trades, as well as their liquidity profile. With this new app, they will be capable of highlighting, comparing, viewing, or otherwise screening for market quality metrics. Through doing so, they will be able to both measure and improve their execution performance, as well as aid in the best execution oversight.

Integration Enabling Exposure

Through building it within the OpenFin OS, BMLL will be able to make its analytics and data offerings available to all the users within the OpenFin Ecosystem. This includes sell-side and buy-side firms, as well as banks, technology vendors, and the fintech community as a whole. At the same time, the Derived Data desktop app of BMLL will be completely interoperable when it comes to any other third-party application built within the OpenFin OS. This way, it’s easy to integrate with existing client workflows without having to redo everything just to make it work.

The Mandatory Good Word

Elliot Banks, the Chief Product Officer of BMLL, gave the mandatory right word about the new arrangement. Banks stated that BMLL is eager to work side-by-side with OpenFin in the development of the Derived Data Application. The reason why they’re building it on the OpenFin OS, is due to the integration ease when it comes to existing desktop environments, as well as the development speed and interoperability with other applications.

According to Banks, this leads to a powerful combination and allows BMLL’s customers to gain quick and easy access to the most granular analytics and data they desire. This, in turn, will be delivered to their respective trading systems, enhancing their workflows at speed and scale.

Paul Humphrey, the CEO of BMLL, chimed in. According to Humphrey, building within the OpenFin OS allows for the firm to provide its analytics and data services to the OpenFin community at large. This strategic decision, according to Humphrey, will help them extract the maximum value out of their consumed data.