The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Bloomberg Eases Data Access and Reduces Costs with Enterprise Access Point

Bloomberg has responded to customer calls for easier access to data with Enterprise Access Point, an online platform that provides normalised reference, pricing, regulatory and historical datasets to Bloomberg data license holders. Following the launch of the platform last week, we caught up with Gerard Francis, global head of enterprise data at Bloomberg, to find out more about the service and its potential going forward.

He says: “Enterprise Access Point responds to customer challenges of understanding what data they have already licensed and what data would be useful to them, and normalising the data – we do that for them. The platform also makes data directly programmable for developers and data scientists.”

Francis describes Enterprise Access Point as a managed service and notes that it makes no changes to the company’s data license model. It uses open technology standards to encourage adoption, covers all data except real-time data, and is based on the Bloomberg cloud, allowing clients who are permissioned to pull data directly from the platform’s website. Francis comments: “For existing clients, data is easier to access and integration and normalisation costs are reduced, if not completely eliminated. For new clients, the platform makes data very accessible very quickly.” Qualifying cost reduction, he says the industry norm is that every dollar spent on data requires a further $5 to $7 dollars to make the data ready to consume. Enterprise Access Point reduces that cost.

By pre-preparing data, the platform allows users to browse quality data online, examine the metadata, trial sample datasets prior to acquisition, and immediately put them to use. If a user is not licensed to use particular data, the top 10 rows of the data can be accessed to give the user a feel for whether it could be useful and whether to subscribe for the data.

For business users, access to the data is provided by a RESTful API. Francis suggests use cases including improved risk management.

For developers and data scientists, data from Enterprise Access Point is available as CSV data frames and supports multiple technologies including Jupyter and Python Pandas. For professionals leveraging artificial intelligence (AI), the data is also available in a graph format. Web developers using the service can benefits from Bloomberg’s RESTful Hypermedia API, which allows URL consistent data to feed directly into an enterprise’s software components, including machine learning tools.

With historical datasets covering the past 10 years, Francis notes potential use of the platform by not only data scientists, but also quants and compliance teams working on Fundamental Review of the Trading Book (FRTB) regulation.

Matthew Rawlings, chief data officer in Bloomberg’s enterprise data department, says: “Having access to deep data history is critical for any investing or business governance strategy based on data science insights. By providing consistent data feeds along with history through API protocols, Enterprise Access Point allows scientists to apply data models with greater confidence and efficiency.”

Enterprise Access Point initially offers Bloomberg data, including some alternative datasets, but this is expected to change over time as more and different data is added to the platform.

Related content

WEBINAR

Recorded Webinar: Managing culture and conduct: Is your organisation compliant with the Senior Managers and Certification Regime (SMCR)?

The FCA’s Senior Managers and Certification Regime (SMCR) came into play in the UK banking sector in early 2016, with the aim of reducing harm to consumers and strengthening market integrity by creating a system that enables firms and regulators to hold individuals to account – and it is not going away with the FCA...

BLOG

ICE Benchmark Administration Adds ICE Risk Free Rate Indexes for US Dollar, Euro and Japanese Yen

ICE Benchmark Administration has introduced ICE Risk Free Rate (RFR) Indexes in US Dollar (SOFR), Euro (€STR) and Japanese Yen (TONA). The indexes will be used to replace LIBOR rates and include ICE SONIA Indexes for GBP Sterling that the company released in April 2021. “Expanding the ICE Indexes to cover GBP, USD, EUR and...

EVENT

RegTech Summit London

Now in its 7th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...