Derivatives Content Expert

About BMLL:

BMLL is the leading independent provider of harmonised Level 3 2 and 1 historical data and analytics across global equities ETFs futures and US equity options. We provide market participants with immediate access to granular T1 order book data and advanced analytics enabling them to accelerate research optimise trading strategies and better understand market behaviour.

BMLL was acquired in 2025 by Nordic Capital alongside minority shareholder Optiver marking a joint commitment to accelerate the companys next phase of growth.

We offer an inclusive and collaborative culture a hybrid working environment that includes regular days in our London office weekly team lunches and a variety of out-of-hours social activities.

For more information visit our website or follow us on X (@bmlltech) and LinkedIn @BMLL.

About the Role:

BMLL has built the leading historic market data product and quant analytics capabilities for the equities market. The next strategic step is to replicate that success in derivatives initially focusing on futures and very quickly extending into options.

To do this we need a senior deeply experienced derivatives market data SME to:

• Lead the derivatives data content strategy (venue selection & prioritization).
• Own the normalization and documentation for derivatives markets.
• Partner with Engineering to build robust scalable derivatives data processing pipelines.
• Be the internal and external authority on derivatives markets and their microstructure for our clients and teams.

This is a senior highimpact hire into BMLL. The expectation is that this person significantly raises the bar and will be the goto expert for derivatives content.

The Team - Content:

You will join the Content team which sits within the Product Management organization and is responsible for:

• Venue & Market Coverage Strategy
• Maintain a global cross-asset view of how the markets are evolving and what this will mean to our customer base
• Maintain a view of our customers changing needs and interests
• Identifying which venues and datasets to add to our platform as a result
• Market Rules & Microstructure Expertise
• Building documenting and sharing a real detailed understanding of asset class regional and venue specific rules and behaviours
• Normalization Design
• Designing the transformation from raw exchange data into BMLLs normalized format
• Analytics Design
• Identifying & designing both market-standard and new/novel analytics which BMLL can present on its platform to reduce the workload of our quantitative analyst userbase
• Implementation Support
• Working closely with Engineering to guide delivery of the normalization and analytics logic in software.
• Acting as the authority on how each market is represented in our output.
• Content as a product
• Owning clientfacing documentation that explains market specifics and BMLLs normalized fields.
• Acting as the final source of truth for complex client queries
• Engaging directly with clients regarding our content strategy and the presentation of derivatives content within the BMLL product portfolio.
• Supporting and educating internal teams (e.g. Client Support Commercial) so they can resolve most queries escalating only the most complex questions to Content.

Key Responsibilities:

1. Define and execute the roadmap to extend BMLLs deep data coverage across futures & options markets
2. Maintain a detailed understanding of each venues trading/product models structures and mechanisms
3. Maintain a detailed understanding of how derivatives content is used by the growing BMLL customer base
4. Design how raw derivatives exchange feeds (PCAP Level 3/marketbyorder) are transformed into BMLLs normalized derivatives schema
5. Work daytoday with Engineers to guide implementation of the derivatives data processing pipelines
6. Support testing and validation of outputs against venue rules and client expectations and help debug complex data or behaviour issues by applying a deep understanding of the underlying markets and rules
7. Create and maintain clientfacing documentation that explains key marketspecific nuances and describes BMLLs representation of derivatives content
8. Act as the final escalation point for complex client queries around derivatives data and behaviour (typically from senior quants PMs and market structure specialists on the buy side)
9. Set and uphold a very high bar for quality rigour and correctness in derivatives content
10. Contribute to a culture that values substance over shiny deep correct knowledge and the ability to explain it clearly is what matters most.

Essential:

Core Domain Experience

• 10 years of experience working with derivatives markets and data (futures and/or options) in a highly technical content or datafocused role.
• Background likely from:
• Market data vendors / providers (e.g. realtime or historical data/content organisations).
• Exchanges or trading venues.
• Derivatives trading firms & market participants
• Large financial data firms indices or trading technology providers in derivativesheavy businesses.

Content / Product Skills

• Track record of acting as a content specialist or similar (e.g. senior role in an exchangetraded data group derivatives content team etc.).
• Experience:
• Specifying and designing normalized data models and mapping rules.
• Working closely with engineering teams to implement content/normalization logic.
• Supporting clientfacing teams with complex technical queries.

Communication & Documentation

• Strong ability to explain complex market behaviour clearly to:
• Highly quantitative external clients (quants PMs traders).
• Nonspecialist internal stakeholders (Support Commercial etc.).

Mindset & Personal Qualities

• Genuine subject matter expert who is comfortable being the final word on derivatives content.
• Pragmatic collaborative and comfortable working in a smaller fastgrowing organisation.
• Values trust autonomy and outcomes over presenteeism and bureaucracy.
• Enjoys mentoring and educating others and raising the bar around them.

Desirable:

• Direct experience at or with major derivatives exchanges (e.g. LME CME Cboe or similar).
• Experience working with global and/or offshore teams.
• Exposure to both realtime and historical/tick history derivatives data.

• Competitive salary

• 25 days holiday plus bank holidays
• Discretionary Bonus
• Pension Scheme
• Private Medical Insurance
• Work remotely abroad for up to 40 business days each year
• Life Insurance
• Combination of remote and London-based office working with 2 days in the office per week.
• A yearly Well-being Physical Activity budget
• Continuous learning through funded training and challenging projects
• Collaborative culture
• Weekly team lunches
• Free Fruit snacks and drinks provided throughout the day (When office-based)
• Regular Team Socials
• Cycle to Work Scheme

We are an inclusive employer and welcome applicants from all backgrounds. We pride ourselves on our commitment to Equality and Diversity. We are committed to removing barriers throughout our hiring process. If you have any special requirements or require reasonable adjustments to help you access career opportunities at BMLL please do let us know at