Operational Impact of Open Symbology on Financial Services
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Overview: Within the securities industry, vendors, markets and financial services companies alike have created hundreds of proprietary symbology sets. Supporting the multitude of identifiers creates cumbersome systems that are expensive to maintain, and diverts resources from innovation that generates alpha. This keeps companies from streamlining operations and realizing efficiencies across business units.
Bloomberg’s Open Symbology provides a comprehensive, secure and flexible system of global identifiers that is available in the public domain. This paper explores the operational impact that firms can expect from adopting open symbology.