Open architecture provides alternative to proprietary securities identifiers, helping Interactive Data ease data mapping and integration costs for its customers
New York, March 11, 2014 - Interactive Data Corporation announced its collaboration with Bloomberg to adopt Bloomberg's Open Symbology (BSYM), a flexible and open system for identifying securities across all global asset classes.
Interactive Data is using BSYM in its financial data products to help reduce the time and effort that its clients devote to data mapping and cross-referencing practices. By using the BSYM library of securities identifiers, in tandem with other standard naming conventions, Interactive Data is enabling clients to adopt a sustainable and transparent system for naming financial securities and reduce operational costs by easing the integration and maintenance of this content.
Jay Nadler, COO at Interactive Data, commented: "This is the latest development in Interactive Data's long standing commitment to help clients ease the burden of instrument cross-referencing in support of operational efficiency across their internal processes. As a result of our collaboration with Bloomberg, we are now integrating BSYM into our Reference Data and Real-Time Feeds offerings. Consequently, we can help to deliver a more flexible approach to support our clients' integration of content across the applications and systems that they currently have in place."
The adoption of Bloomberg's Open Symbology identifiers complements Interactive Data's ongoing work across business entity identification, including ISO 17442-based entity identifiers and pre-LEIs such as the CFTC's Interim Compliant Identifier (CICI). By linking entity hierarchies and their issued securities, the firm can show the inter-relationships between financial instruments, issuers and market data to provide risk managers with the means to identify and manage risk exposure.
"Bloomberg Open Symbology is gaining adoption as a viable and comprehensive alternative to proprietary naming conventions for financial instruments," said Peter Warms, Global Data Manager for entity content, corporate actions and symbology at Bloomberg. "Working with Interactive Data to integrate Bloomberg's global identifiers into its data feeds helps common clients realize the interoperability of enterprise systems and reduce operational costs."
For more information about Bloomberg Open Symbology, please visit:www.openbloomberg.com.
About Interactive Data Corporation
Interactive Data Corporation is a trusted leader in financial information. Thousands of financial institutions and active traders, as well as hundreds of software and service providers, subscribe to our fixed income evaluations, reference data, real-time market data, trading infrastructure services, fixed income analytics, desktop solutions and web-based solutions.
The Company's Pricing and Reference Data business provides global securities pricing, evaluations, and reference data designed to support financial institutions' and investment funds' pricing activities, securities operations, research, and portfolio management. Interactive Data collects, edits, maintains, and delivers data on more than 10 million current and historical securities, including daily evaluations for approximately 2.8 million fixed income and international equity issues. Interactive Data specializes in 'hard-to-get' information and evaluates many 'hard-to value' instruments.
Pricing, evaluations and reference data are provided in the US through Interactive Data Pricing and Reference Data LLC and internationally through Interactive Data (Europe) Ltd. and Interactive Data (Australia) Pty Ltd.
For more information about Interactive Data please visit: www.interactivedata.com.
About Bloomberg Open Symbology
Bloomberg's Open Symbology is a comprehensive, secure and flexible methodology for identifying financial securities across all global asset classes. BSYM is based on the Bloomberg Global ID (BBGID), a 12 digit alpha-numeric identifier that currently covers 170 million active and non-active securities and is available to the capital markets without licensing fees or material restrictions on usage. BSYM provides financial and technology firms with an alternative to using proprietary codes for financial securities, which can eliminate the need for redundant mapping processes, streamline system and data integration tasks and reduce operational risk. For more information, please visit www.openbloomberg.com
For more information, please contact:
Erika Alter, Marketing Director, Pricing and Reference Data