Princeton Financial has released an enhanced version of its Bloomberg Data License interface in order to automate the request and retrieval of market information by its PAM investment management system users.
The interface, which previously covered only prices and factors for input, now also includes market data information on ratings for fixed income securities, stock dividends, stock-split data for equities, shares of outstanding equities, equities statistics and indicated annual dividends. The enhanced interface will also allow the processing of initial and final factors and will include Beta on pricing records for equities.
"Not only have we expanded the data types, but we've also added some more streamlined processing with these interfaces through automated scheduling," says Susan Eccarius, managing director of product management at Princeton Financial. "It can be a hands-off type of thing, where you schedule everyday to run a job that goes and communicates to Bloomberg Data License, and it takes the request parameters, sends them out and pulls the files back in and loads them into the PAM system."
Users will have a direct interface to Bloomberg's data warehouse, with the requested files communicated back and forth through FTP over an Internet connection. Eccarius explains that the enhanced interface will help clients as T+1 approaches and straight-through processing becomes necessary. "It's important as we get closer to T+1, because there isn't going to be a lot of processing time to do the manual steps to request files from market data vendors at the end of the day," she adds. "It's going to have to be multiple times throughout the day." Princeton currently has 6 users in production with the enhanced Bloomberg interface, which is licensed as an add-on for an annual fee.
In the future, Princeton is looking to expand the feeds from Bloomberg Data License even further across all data types and asset classes. "We've had a lot of clients asking, especially those with a high trading volume that are buying new securities," says Eccarius. "In order to get the trade into the system, they need the descriptive data first." She expects the additional feeds to be rolled out early next year on an ongoing basis.