2 Feb 2012
Bloomberg Opens Up Its Market Data API - OpenGamma 1.0 Release Being Prepared
What a day for Open Source and the financial services industry at large: Bloomberg announced yesterday it is opening up its market data API under the open source MIT license - in stark contrast to its competitors.
The implications for OpenGamma users are huge, and positive. We know many of you evaluating the software already have Bloomberg terminals available, yet due to Bloomberg's previous policy have been forced to rely on mock data. We've provided some of you with the integration module for evaluation purposes under a proprietary license, but we also understand that many of you prefer to self-evaluate the product without having to contact us. Bloomberg's announcement will allow us to change that.
We know you've all been anxiously waiting for the 1.0 release of our Platform. It's actually been broadly stable and feature complete for a while now; we already run it internally 24/7 and have firms using it in anger. The few remaining pieces are mostly related to documentation and examples.
After yesterday's announcement, our goal is to go back and amend our 1.0 plans to include the Bloomberg Integration Module - we'd like to ensure there are evaluation tools ready with the upcoming release. As soon as the module is ready to be released open source - assuming this will happen before the 1.0 release - we'll aim to publish it on our GitHub account, as well as make an announcement on the forums. The module will then allow anyone with a valid Bloomberg terminal or Server API instance to directly access Bloomberg data from within the OpenGamma Platform.
We've been working on and with the OpenGamma Bloomberg Integration Module for several years now, and the difference in evaluation will be pretty extreme. Our goal is for you to be able to download the Platform, connect it to a Bloomberg Terminal running on your desktop, and have real-world analytics and risk in a matter of minutes. We think that's worth waiting a few more weeks for! (Want to make it happen faster? We are hiring.)
We are now working on the final preparations, and will be updating you shortly - stay tuned.