Wamid and BMLL Turbocharge Saudi Market with Cutting-Edge Analytics

Saudi Arabia’s financial sector just got a data-driven adrenaline shot—courtesy of Wamid and BMLL’s new analytics play.

No more flying blind: The duo’s platform promises institutional investors the kind of granular market insights usually reserved for Wall Street’s elite.

Because nothing says ’Vision 2030’ like letting algorithms do the heavy lifting while human traders sip Arabic coffee. The Saudis might finally get their money’s worth—assuming the algorithms outperform the usual herd mentality.

Wamid, the technology and innovation arm of Saudi Tadawul Group (STG), has announced a multi-year strategic partnership with BMLL Technologies (BMLL), the leading, independent provider of high-quality, harmonised Level 3, 2 and 1 historical data and analytics to the world’s financial markets. Jointly, they will be launching a suite of white-labelled, cloud-based analytics tools tailored for the Saudi market.

The collaboration brings an innovative solution to the region as the first platform that enables Quant teams, analysts and institutional investors to access deep historical order book data and run advanced models in a Python-native environment. The platform’s analytical depth, flexibility, and technical customisation represent a significant leap forward in market transparency, insight-led decision making, and the development of a more sophisticated market infrastructure in Saudi Arabia.

 “We are thrilled to partner with Wamid and support the Kingdom’s ambition to create a more transparent and advanced market ecosystem. Our mission at BMLL is to democratise access to the most sophisticated market data and analytics of the highest quality, enabling firms to make better-informed decisions. This partnership is a testament to the trust global institutions place in our data and analytics solutions.

We are very excited about this collaboration and believe it will lead to many years of continued success. We are fully committed to supporting Wamid and Saudi Tadawul Group’s wider ambitions for Saudi Arabia and the Gulf.”

The partnership builds on BMLL’s momentum. In Q4 2024, BMLL secured Optiver and CTC Venture Capital as investors, adding to an already diverse investor base including Nasdaq Ventures, FactSet, IQ Capital’s Growth Fund and Snowflake Ventures. In addition, today, BMLL’s historical market data covers 100% of the MSCI All Country World Index, spanning Equities, ETFs, Futures, and US Equity Options across 100+ trading venues globally.

Source: BMLL