The move is intended to attract market participants that want affordable OPRA data offerings.
Data and analytics provider BMLL has added Options Price Reporting Authority data to its offerings, a response to market participants that want less expensive, cloud-based solutions to access the OPRA data within their workflows, officials say.
BMLL’s data offerings include historical Level 3, 2, and 1 data and analytics across equity, ETFs, and futures markets.
“Six years of historical, nanosecond unconflated OPRA options data is now available to market participants globally, in addition to conflated datasets, complementing existing US equity and futures datasets,” according to BMLL. OPRA data is used by traders, brokers, institutional investors, and market makers.
BMLL officials say:
- Buy-side firms use OPRA data “to backtest strategies, perform TCA and execution analysis, and generate alpha;”
- Sell-side firms use OPRA data “to backtest execution algorithms, improve smart order routers and demonstrate best execution, track liquidity fragmentation and stay informed of changes to market structure;” and
- Exchanges use OPRA data to “analyze market share across U.S. equity options exchanges and mechanisms.”
“Spiraling data costs and OPRA’s expansion of its data dissemination from 48 to 96 lines in February 2024 have placed a significant burden on market participants, both in terms of managing market data budgets and also the necessary data infrastructure [to handle 4TB of data per day],” says David Robinson, chief technology officer at BMLL in a prepared statement
The provider is also making OPRA data available via BMLL Data Lab and BMLL Data Feed, via Amazon Web Services (AWS) S3, officials say.
OPRA aggregates and disseminates pricing information for listed options contracts in the U.S., “including quotes, last sale prices, and volume data,” officials say.
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