BMLL Trades

The BMLL Trades dataset provides the definitive factual record of past trading activity, acting as a granular, chronological record of every single trade executed for a given instrument.
**The Challenge: Incomplete Trading Records** Obtaining a highly detailed and perfectly chronological view of historical trading activity across fragmented lit and dark liquidity sources is a massive data engineering hurdle.
**The Solution: The Most Detailed Historical View** BMLL delivers a normalised view of trade information across major equity venues. By incorporating trade amendments, high-granularity timestamps, and consistent trade condition codes, this dataset offers the clearest picture of historical trading available.

**Key Features & Capabilities:**

- **Comprehensive Records:** Price, volume, and time of execution and publication for every trade in a given market.
- **Enriched Data:** Includes exchange trade condition codes, MMT flags (where available), and amended or cancelled trades.
- **High Precision:** Timestamps at or exceeding venue matching engine precision (nanosecond or microsecond).
- **Aggressor Insights:** Aggressor side identified for lit trading using BMLL Level 3 order book data.to

**Core Benefits:**

- **Buy-Side:** Backtest strategies, perform TCA and execution analysis, and generate alpha.
- **Sell-Side:** Backtest execution algorithms, track liquidity fragmentation, and demonstrate best execution.
- **Exchanges:** Analyse market share across fragmented venues and mechanisms.

**Data / Documentation Specifications:**

- **Factsheet:** [Trades Data Factsheet](https://www.bmlltech.com/files/documents/BMLL-TRADES-DATA-FACT-SHEET.pdf) / [OPRA Data Factsheet](https://www.bmlltech.com/files/documents/OPRA-DATA_FACTSHEET.pdf)
- **Documentation:** [Normalised Trades Documentation](https://www.bmlltech.com/files/documents/BMLL-Normalised-Trades.pdf) / [Trades Futures Documentation](https://www.bmlltech.com/files/documents/BMLL-Trades-Futures.pdf) / [Trades OPRA Documentation](https://www.bmlltech.com/files/documents/BMLL-Trades-OPRA.pdf)
- **Coverage:** [Data Coverage](https://www.bmlltech.com/market-data-coverage)