NYSE Euronext is to use financial data provider Bloomberg’s open source securities identifier codes for New York Stock Exchange-listed companies in all the exchange group’s data products globally.
Bloomberg Open Symbology (BSYM) – a free and open market data symbology – will be distributed alongside NYSE Euronext’s standard security identifiers for NYSE-listed stocks.
Currently, many financial instruments’ identifier codes are proprietary to exchange groups and data providers. Greater interoperability between reference data is expected to lead to greater transparency and lower data management costs for financial market participants.
The two firms said that distributing BSYM through NYSE Euronext’s data feeds and web sites would relieve market participants from the effort of mapping between global and local security identifiers.
“An open source, truly integrated solution for market data distribution is long overdue,” said Larry Leibowitz, chief operating officer, NYSE Euronext. “Taking the lead in providing a global uniform standard demonstrates our joint commitment to move the industry forward by providing increased transparency and improved access while lowering costs.”
“In an atmosphere of increased cross-border trading, this solution allows for quick integration into users’ systems to give the industry even greater flexibility,” added Mark Pesonen, head of enterprise products and solutions at Bloomberg.
Under the initiative, NYSE Euronext will offer its data feeds and products for coding and mapping on the BSYM platform through a tiered rollout that will begin in April with its popular OpenBook product. After Bloomberg completes the mapping process for all NYSE-listed ticker symbols and security identifiers, NYSE Euronext and its affiliates will globally distribute the new BSYM codes through its data feeds and related products.