Asia Awards 2023: Best market data provider—Bloomberg

Product: B-Pipe

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Overview

Bloomberg focuses on helping its clients align data usage across the organization from the front to the back office. Typically, heads of trading who have a Bloomberg Terminal on their desk would want to see the same data points on the Terminal reflected in their OMS or back-office reports to streamline workflow and transparency. Historically, this has not been prevalent in Asia as the domains and workflows were seen to be quite disparate. 

“In our transformation journey, one of our largest challenges to tackle has been enhancing our data capabilities, given the increasingly important role that data access and delivery speed plays in the decision-making process. Bloomberg has been an important partner for us. We are excited to onboard its industry-leading data feed and management tools, which will meet these needs while minimizing overall cost.”
Andreas Behmann, head of the market data optimization project, Norddeutsche Landesbank

The solution

Bloomberg has increased its presence over the years and is undoubtedly one of the leaders in the global market data and terminal desktop space. One of its key solutions, B-Pipe, delivers consolidated and normalized real-time streaming prices to service the full spectrum of front-office use-cases. It provides low-latency access to 35 million instruments across all asset classes, aggregated data from over 330 exchanges and more than 5,000 contributors, as well as proprietary Bloomberg pricing sources and index solutions. 

Secret sauce

B-Pipe differentiates itself through data quality, reliability, the fact that it’s a fully managed service, and because Bloomberg supplements market data with its own unique content. B-Pipe’s real-time content is accessible globally on each of the three major public clouds. In Asia-Pacific, Bloomberg is seen as a one-stop platform amid increased digitization across the buy side and sell side. Clients see B-Pipe as a consolidated feed provider for all their real-time requirements. 

Recent milestones

From a technology perspective, Bloomberg continues to add cloud-native end points to offer low-latency market data in the cloud. On the content side, fixed-income automation continues to drive enhancements with additional real-time content, including a New Issues Feed, Bloomberg Indices, and an enhanced MSG1 service that uses a proprietary algorithm to extract fixed-income quotes and related information from Bloomberg messages and Instant Bloomberg chat.   

Future objectives

Bloomberg’s near-term roadmap focuses on innovation around expanding its market data content, supplementing its market data feed with additional data services to help solve specific business workflows, offering a managed technology that allows customers to run their applications anywhere with a consistent experience, and providing tools to help reduce the operational burden of managing feeds and automating internal workstreams. 

“Bloomberg continues to be an industry leader in real-time content, technology, and service delivery. We continuously enhance our real-time platform enabling customers to automate more of their workflows with the highest quality data, while benefiting from our flexible and scalable delivery options, whether that’s deployed or in the cloud.” 
Cory Albert, global head of cloud strategy, enterprise data, Bloomberg

Why they won

It is no surprise whenever the Bloomberg name makes it into the winners’ circle of these awards or any of the other awards programs run by WatersTechnology. And for good reason: Bloomberg continues to set the bar across the financial services industry when it comes to the development, delivery and provision of technology and data, as evidenced by its outstanding B-Pipe offering, a market data feed that provides user-firms with global connectivity to consolidated, normalized market data in real time, featuring the same asset classes as its ubiquitous Bloomberg Terminal. 

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