Nyse Euronext is to join with Bloomberg in promoting the market data vendor's open source securities identifier initiative.
Beginning next month, Nyse Euronext says it will distribute Bloomberg Open Symbology (BSYM) along with the Exchange's standard security identifiers for New York Stock Exchange listed companies through all of its data products globally.
Nyse Euronext says the combination will relieve market participants of the burden of mapping between global and local security identifiers.
Bloomberg first moved to make its own proprietary symbology available for free to developers and market practitioners in November.
In the interim, the European Commission has opened a probe into the pricing structures applied by vendors of alternative proprietary identifier codes such as S&P and Thomson Reuters.
"An open source, truly integrated solution for market data distribution is long overdue," says Larry Leibowitz, chief operating officer, Nyse Euronext. "Taking the lead in providing a global uniform standard demonstrates our joint commitment to move the industry forward by providing increased transparency and improved access while lowering costs."
Nyse Euronext will offer its data feeds and products for coding and mapping on the BSYM platform through a tiered rollout that will begin in April with its OpenBook product, says Leibowitz. After Bloomberg completes the mapping process for all New York Stock Exchange-listed ticker symbols and security identifiers, the Exchange and its affiliates will globally distribute the new BSYM codes through its data feeds and related products.