Wamid, the technology arm of Saudi Tadawul Group, has entered a multi-year agreement with BMLL Technologies to introduce Saudi Arabia’s first cloud-based analytics platform tailored for institutional investors and quantitative analysts.
This partnership will give local market participants access to extensive historical order book data and allow them to run advanced financial models using a Python-based environment. The initiative marks a significant advancement for the country’s financial technology landscape, enabling in-depth market behavior analysis and more precise trading strategy development.
The new platform eliminates the need for internal data processing by offering cloud-based tools for data analysis, streamlining workflows for quantitative teams and investors. It will deliver T+1 order book data, as well as pre- and post-trade analytics, supporting applications such as market impact analysis, order simulation, and compliance monitoring.
BMLL Technologies, known for its global coverage of Level 1, 2, and 3 historical market data, contributes data from over 100 trading venues worldwide, including full representation of the MSCI All Country World Index.
This collaboration is part of broader efforts to modernize Saudi Arabia’s capital markets and attract more institutional investment by providing access to analytics capabilities that were previously unavailable in the region.
BMLL, established in 2014 at the University of Cambridge, has secured substantial funding, most recently raising $21 million in a round led by Optiver. The company has accumulated $83 million in total investments, which has supported its global expansion and the growth of its cloud-native data science platform.
Earlier this year, BMLL expanded its partnerships to enhance the integration of historical and real-time data for trading applications, reflecting growing demand for sophisticated analytics in financial markets.