Software vendors and end users have welcomed the formalisation of Bloomberg Enterprise Solutions’ vendor partner programme that allows financial software vendors to make their apps ‘Bloomberg ready’ by connecting them to Bloomberg applications and providing access to Bloomberg data.
Bloomberg introduced the programme with 125 financial software partners offering everything from order, execution and risk management systems to portfolio analytics and accounting applications. The company says its commitment to open and standardised integration tools will allow partners to build solutions that synchronise client workflow and enhance the user experience without adding programming complexity.
Among the partners is Imagine Software, a provider of real time portfolio and risk management solutions that has integrated access to Bloomberg live pricing and Open Symbology in its software products.
Lance Smith, CEO and founding partner of Imagine, says: “Data integration has always been a key selling point for us as we offer integrated portfolio and risk management, and have offered data as a component. This relationship with Bloomberg provides more seamless integration and greater operational efficiency. Communication and collaboration between vendors is good in every regard. Clients get more options, they don’t have to compromise and they get the data they want.”
Darren Rodohan, chief technology officer at Imagine Software user Arrowgrass Capital Partners, adds: “Imagine’s support of Bloomberg data will dramatically decrease our overall costs for market data and help us move towards a single symbology.”
SoftSolutions!, an Italian provider of software products and services focused on fixed income, has also passed the Bloomberg test and become a member of the Bloomberg Enterprise Solutions partner programme. Its nexRates trading, quoting, pricing and risk platform, for example, has been integrated with Bloomberg applications and can ingest Bloomberg reference and real-time data products as well as data content from third-party data sources.
CEO Roberto Cocchi, says: “Bloomberg’s programme helps us cut down implementation time and resolve unnecessary complexities when implementing data products in our trading platform. This way we can provide significant value add to our customers.”
The Bloomberg partner programme gives vendors a test package to help them connect to Bloomberg applications and access information, with Bloomberg then reviewing the vendor apps and registering them as Bloomberg ready. This is a free service with application users paying for Bloomberg data in the usual way.
Gerard Francis, global head of Bloomberg’s Enterprise Solutions, says: “The programme gives vendors huge advantage. If they have to integrate Bloomberg data for every software implementation this takes time and resources. Pre-integration and being Bloomberg ready means vendors can more quickly install their solutions at client sites and clients don’t have to spend time getting Bloomberg data into vendor software systems.”