Algorithmics has reached an agreement with Bloomberg to make Algo Data Loaders for Bloomberg Data available to Algo Suite customers. Algorithmics says that Algo Data Loader users can populate Algo Suite with market and securities data available through Bloomberg’s Data License product.
“Efforts like our Bloomberg alliance help to drive innovation that contributes to our leadership position,” says Michael Zerbs, Chief Operating Officer at Algorithmics. “Algo Data Loaders, along with other advanced data utilities under development consideration, will deliver new business benefits to our clients and further enhance the functionality of our proven Algo Suite of solutions.”
By installing Algo Data Loaders for Bloomberg Data, Algo Suite users can automatically map terms and conditions together with instrument prices, and risk factor data (interest rate curves, index prices, exchange rates) for a wide array of instrument types into Algo Suite. “The Algo Data Loaders utilize state-of-the-art mapping and modeling procedures that have been thoroughly tested in complex production environments and can provide a solid foundation for any Algo Suite implementation,” says the company, somewhat mysteriously.
Part of Algorithmics’ advanced data utilities, the Algo Data Loaders for Bloomberg Data are delivered along with extensive documentation enabling clients to quickly review and understand Algorithmics mapping and modeling methodology. “Algo Data Loaders synthesize Algorithmics’ views of how to optimally map and model instrument and risk factor data into Algo Suite,” explains Benoit Fleury, Algorithmics’ Product Marketing Director responsible for the Bloomberg alliance. “Because they reflect years of experience in developing advanced data utilities for complex risk oversight systems, Algo Data Loaders substantially reduce project complexity, risks and implementation time.”
“Bloomberg’s Data Licensing capabilities offer our clients and development partners a powerful data solution, providing them with flexible access to over 4 million instruments spanning all global capital markets” said Tanys Lancaster, of Bloomberg. “Algo Suite customers can take advantage of the same quality data that is relied upon by over 260,000 financial professionals in more than 126 countries worldwide through the Bloomberg network. The nearly 5,000 unique data elements stored in Bloomberg Data License offers full- universe coverage or customer-specified data.”