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

A-Team Insight Blogs

FOW TRADEdata in Dialogue with Bloomberg to Incorporate Identifiers into Xymbology, Says IPUG

Following its letter to petition Bloomberg to allow its symbology to be included in FOW TRADEdata’s service Xymbology, the Information Providers User Group (IPUG) indicates that a dialogue has begun between the two vendors to incorporate both the BUID and the new Bloomberg Global ID (BBGID), which is at the heart of its open symbology initiative, in the service. To this end, FOW TRADEdata is currently seeking further client support to continue down this road and IPUG’s letter is therefore just the beginning.

In its letter to Bloomberg, IPUG describes the Bloomberg Open Symbology (Bsym) initiative, which was launched in November last year, as “very welcome” but notes that the vendor must now follow through with its promise of being “open”.

The Bsym initiative essentially entails the royalty free distribution of Bsym identifiers, which the vendor says is open to all, and the gradual migration from the existing BUID identifier to the new BBGID global identifier. With the aim of proving this openness, Bloomberg signed an agreement in April this year with NYSE Euronext to include its Bsym codes on NYSE’s data feed products globally. NYSE Euronext is initially adding Bloomberg Bsym codes to its OpenBook product and will then move on to distribute Bsym along with its standard security identifiers for New York Stock Exchange-listed companies across all its data products.

IPUG is therefore looking for a similar agreement to be signed with derivatives market specialist FOW TRADEdata. Its Xymbology service carries a number of market and independent software vendors’ symbology at the traded series level, but it does not as yet carry Bloomberg’s.

The industry group highlights in its letter to Bloomberg the challenge a firm faces in “the complex task of managing a wide and diverse universe of identifiers within its trading operation and especially in the area of derivatives”. It therefore asks the vendor to make the lives of its constituents that much simpler by opening up its symbology to another route to market.

The lobbying is reflective of the general desire within the user community for lower costs and easier access to instrument identifiers that have until now been largely proprietary to individual data providers.

Related content

WEBINAR

Recorded Webinar: Market data management, licensing and administration in the post-Covid environment

Market data administration has always been a challenge. For many firms, keeping tabs on permissioning and entitlements, compliance with licensing agreements, and reconciling all that with increasingly complex invoices requires a significant dedicated resource with a clear understanding of the issues involved. As if that weren’t enough, things got more challenging for these teams in...

BLOG

Etrading Releases Digital Token Identifier Registration Service, Initiates Use of Standards Across Digital Token Asset Class

Etrading Software has started Digital Token Identifier (DTI) registration following go live of the DTI registry in July 2021 and recent publication of the ISO standard for digital assets, ISO 24165. With the standard in place, early work by the registry includes coverage of the top 100 cryptocurrencies by market capitalisation – ultimately, all digital...

EVENT

Data Management Summit USA Virtual (Redirected)

Now in its 11th year, the Data Management Summit USA Virtual explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

Regulatory Data Handbook – Fifth Edition

In response to the popularity of the A-Team Regulatory Data Handbook, we have published a fifth edition outlining the essentials of regulations that are likely to have an impact on data and data management at your organisation. New to this edition is a section on RegTech, covering drivers behind the development of innovative regulatory technology,...