BMLL, the leading, independent provider of harmonised, Level 3, 2 and 1 historical data and analytics to the world’s financial markets, today welcomes Five Rings to its Client Product Advisory Board (CPAB). Five Rings is a New York-based proprietary trading firm founded with a vision of combining quantitative expertise, rapid innovation, and highly-scalable technology to succeed in today’s global markets, trading in various domestic and international markets, both established and esoteric. They join the CPAB in support of its mission to elevate the standard of historical market data for the benefit of the entire industry and to offer its breadth of technological and market structure expertise to help shape BMLL’s future product roadmap.Five Rings values BMLL Data Lab, the scalable Python research sandbox that provides access to full-depth, Level 3 order book data; and BMLL Data Feed for flexible data delivery. With experience in quantitative trading across asset classes, Five Rings relies on high-fidelity data to explore new market opportunities, to make effective data-driven decisions, and to enhance its quantitative research and analytics workflows.BMLL added OPRA options data in November 2024, and today, over seven years of historical, nanosecond unconflated OPRA options data are available to market participants globally, complementing BMLL’s existing US equity and futures datasets. OPRA options data is immediately available via BMLL Data Lab and BMLL Data Feed, via AWS S3, and at multiple levels of conflation that suit clients’ individual specific requirements.Parker Lim, Head of Special Projects, Five Rings, said: “We work in teams of quantitative researchers, developers, and traders, continuously seeking new opportunities and deploying our strategies. BMLL’s high-quality data and research environment have become instrumental as we continue to expand into new markets and modes of execution, enabling us to perform reliable quantitative analysis to move quickly from insight to implementation.” BMLL Chief Executive Officer, Paul Humphrey, said: "The CPAB continues to gain strong momentum as a client-led initiative, and we’re delighted to welcome a highly sophisticated firm like Five Rings to the community. Leading firms like theirs are placing trust in our data normalisation capabilities and are increasingly leveraging our historical data to shape their global strategies. While their involvement gives them visibility of and input into the evolution of BMLL’s product offering, their contribution to the CPAB provides us with valuable insight as we look to elevate the standard of historical market data across the industry.”Launched in February 2025, in response to client requests, the CPAB is a forum that aligns the leading sovereign wealth funds, asset managers, banks, liquidity providers, and proprietary trading firms around a common goal: to set the standard of historical data across the industry. Specifically, member firms collaborate and define best-in-class data symbology and normalisation processes and protocols, data delivery methods and coverage needs, and make these available to the wider market. Globally, BMLL’s historical market data now covers more than 100 trading venues, spanning global equities, ETFs, futures and US equity options; its equities offering covers 100% of the MSCI World Index.NoYesData28 May, 2026