An interesting conversation lead me to looking at the Bloomberg Open Symbology initiative. Essentially the model is one whereby Bloomberg allow firms to license their instrument dataset and use it within applications. So, that answers some of the problems that are raised in the earlier post ISIN+MIC is not enough.
For Bloomberg to do this is a pretty big change from their proprietary, walled-garden approach (it used to be all about the terminals) so of course this spurs further thought and consideration about how to use this. Since a substantial use case for market data can be seen within the Order Management System (OMS), Execution Management System (EMS), Single Dealer Platform (SDP) and Multi Dealer Platform (MDP) this holds a lot of interest for me.
The market data product that the global financial services industry really wants....
ISIN+MIC is not enough
HTML5 postMessage as a "form" constructor - gotcha!
Market data terminals, past, present and future…
Solace Systems & Node.js Market Data Terminal
FIIDL - FIX Interactive Interface Definition Language
FIIDL - FIX Interactive Interface Definition Language (part two)
FIIDL - FIX Interactive Interface Definition Language (part three)
Bootstrapping, FIIDL and the mesh exchange
Google, robots.txt and the “Search for Liquidity”
Google, robots.txt and the “Search for Liquidity”: Fixed Income edition
Buy-side OMS (many posts)
EMS (many posts)