EDI's Corporate Action Service Adopts Bloomberg Open Symbology.
London, September 24th, 2012 - Exchange Data International (EDI), a premier
back office financial data provider, today announced it adopted
Bloomberg's Global Securities Identifiers (‘BBGID’) to name and track
all equities securities in its Worldwide Corporate Actions service.
EDI is the latest financial data provider to
adopt Bloomberg's Open Symbology (BSYM), an open and free-use system
for naming global securities across all asset classes with a BBGID, a 12
digit alpha-numeric identifier for financial instruments. EDI has
implemented BBGID numbers in its equities reference, pricing and
corporate actions data feeds. Its Worldwide Corporate Actions service
provides detailed information on 50 corporate action event types
affecting equities listed on 160 exchanges.
"EDI decided to integrate Bloomberg's Open
Symbology, as it is easily accessible and has no license fee or
restrictions on usage," said Jonathan Bloch, the Chief Executive Officer
of EDI. "Bloomberg's Symbology also advances straight-through
processing of equity orders, which aids reporting and compliance
management."
Peter Warms, Global Head of Bloomberg Open
Symbology, said: "Existing identifiers that change due to underlying
corporate actions introduce inefficiencies, increase costs and add
complexity to the data management process. Bloomberg and EDI recognise
the importance of comprehensive, open and unchanging identifiers, like
the BBGID, in enabling customers to track unique securities consistently
and to process corporate action data seamlessly. As BSYM grows in
adoption, interoperability across market systems and software using BSYM
will improve steadily and reduce operational costs."
