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Bloomberg overhauls market data system with help of 3,000 developers

Qedward (2499046) writes | more than 2 years ago

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Qedward (2499046) writes "Bloomberg is set to dramatically escalate its ongoing data battle with Thomson Reuters, as it announces a $100 million redesign of its market data services.

The company, which earlier this month said it was opening its data APIs but maintaining regular data subscription fees, is now simplifying its products, the Financial Times reported. It is aiming to cut complication in its widely-used market data system, while improving usability.

The news comes as Thomson Reuters is understood to be taking aggressive steps to open up its market data on its flagship Eikon system. Early troubles with the system, including a difficult speedy migration, are understood to have played a part in the departure of its chief executive, Tom Glocer."

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