Bloomberg: Third-Party Providers Benefit From Bloomberg Open Symbology
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Overview: The financial services industry exchanges information on securities using some 55 symbologies. Third-party providers have had to develop and maintain complex workflows in order to map diverse market identifiers to the business processes that serve their clients. This requirement has become increasingly cumbersome for third-party providers. Bloomberg's Global ID (BBGID), an open symbology system of identifiers for securities is enabling third-party providers to streamline mapping processes, and is available to the public without limitation.
This report explores the opportunities that BBGID creates for third-party providers.