In a move to promote transparency and lower data management costs,NYSE Euronext and Bloomberg Finance L.P. are teaming up to deliver the market data industry's first open-source security identifiers. Beginning in April NYSE Euronext will distribute Bloomberg Open Symbology (BSYM) along with NYSE Euronext's standard security identifiers for New York Stock Exchange listed companies through all of its data products globally.
According to the release, combining Bloomberg BSYM, the only free and open symbology in market data, with NYSE Euronext proprietary data feeds, meets the need for open standards in reference data. The goal is provide standardization and interoperability between NYSE Euronext's data feeds and Bloomberg's value-added content.
NYSE Euronext will distribute BSYM through its data feeds and web sites to ensure availability and access to its global customer base. This gives market participants the flexibility of choice and relieves them of the burden of mapping between different global and local security identifiers, according to NYSE Euronext.
"An open source, truly integrated solution for market data distribution is long overdue NYSE Euronext is pleased to join with Bloomberg in delivering this innovative, market-based approach to benefit our customers and the investing public," commented Larry Leibowitz, Chief Operating Officer, NYSE Euronext, in the release. "Taking the lead in providing a global uniform standard demonstrates our joint commitment to move the industry forward by providing increased transparency and improved access while lowering costs," further stated Leibowitz, in the release.
"Bloomberg has revolutionized the market data industry by creating a free and open standard," according to Mark Pesonen, head of enterprise products and solutions at Bloomberg. BSYM contains the same identifiers used globally in the Bloomberg Professional service, now available to everyone in the investing public," added Pesonen. Emphasizing the information provider's commitment to open standards, Pesonen stated, "We know provide an integrated solution between BSYM and all NYSE Euronext feeds." Citing the increase in cross-border trading, Pesonen said, the solution would "allow for quick integration into user's systems to give the industry even greater flexibility."
NYSE Euronext will offer its data feeds and products for coding and a mapping on the BSYM platform through a tiered rollout that will begin in April with its popular OpenBook product. After Bloomberg completes the mapping process for all NYSE-listed ticker symbols and security identifiers, NYSE Euronext and its affiliates wil globally distribute the new BSYM codes through its data feeds and related products. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio