NYSE Euronext and Bloomberg have unveiled plans to launch the market data industry’s first open-source security identifiers, both companies announced Thursday.

Beginning next month, NYSE Euronext will distribute Bloomberg Open Symbology (BSYM) along with NYSE Euronext's standard security identifiers for New York Stock Exchange listed companies through all of its data products globally.

By combining Bloomberg BSYM with NYSE Euronext proprietary data feeds, “this move by NYSE Euronext and Bloomberg meets the need for open standards in reference data,” according to NYSE Euronext, which noted that the new solution provides standardization and interoperability between NYSE Euronext’s data feeds and Bloomberg’s content. NYSE Euronext will distribute BSYM through its data feeds and web sites to ensure optimum availability and access to its global customer base.

In an interview with Securities Industry News, Shawn Edwards, CTO with Bloomberg, noted that around the end of 2008 and beginning of 2009, one of the themes that clients frequently echoed was how the proprietary nature of symbology was “causing a lot of headaches.”

In response, said Edwards, Bloomberg created a web site and placed its symbology in the public domain. Fast forward to now, the new partnership, he explained, takes this to the next level.

“We think this is a great step forward for both of us and is an example of what we were looking for,” he said.

“An open source, truly integrated solution for market data distribution is long overdue. NYSE Euronext is pleased to join with Bloomberg in delivering this innovative, market-based approach to benefit our customers and the investing public,” said Larry Leibowitz, COO at 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.”

Mark Pesonen, head of enterprise products and solutions at Bloomberg, noted that “in an atmosphere of increased cross-border trading, this solution allows for quick integration into users’ systems to give the industry even greater flexibility.”

“BSYM contains the same identifiers used globally in the BLOOMBERG PROFESSIONAL service, now available to everyone in the investing public,” Pesonen added.

Bloomberg and NYSE Euronext said they will collaborate to maintain an open, market-based solution that integrates their core market information services as a vendor and supplier, respectively. 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 OpenBook product.

After Bloomberg completes the mapping process for all New York Stock Exchange-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.

This article can also be found at SecuritiesIndustry.com.

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