Bloomberg has released Data Access, an extension of Bloomberg’s Transaction Cost Analysis solution (BTCA), which enables clients to access data more easily through an API.
The new functionality allows customers to bring together trading data with Bloomberg Data License’s (DL) reference and pricing data to design and build bespoke data solutions on top of the BTCA framework rapidly using general-purpose programming languages such as Python.
Ravi Sawhney, global head of trade automation and analytics at Bloomberg, said: “We are focused on the continued enhancement of our solutions as clients’ trading needs are constantly evolving with the markets.”
“BTCA allows clients to analyse and monitor trading performance and provides them with tools to create customised reports using a range of factors, including peer benchmarks. The ability to use a broader range of data as they evaluate their transactions helps expand trading insights and make better informed decisions to improve performance,” Sawhney added.
Data Access allows current BTCA customers to input complex queries to refine data for several use cases including trend analysis of broker and trader performance and integrating with data visualisation tools to generate actionable insights.
The combined datasets provide clients comprehensive content for reporting and decision making. This includes trade data, which encompasses the full spectrum of a lifecycle data such as order characteristics. Additionally, benchmark data provides the results of all benchmark calculations and context data that shows grouping for the executed trades.
Audrey Blater, senior analyst for Coalition Greenwich market structure and technology, said: “Data is a significant driver of TCA adoption, and increased workflow electronification enables clients to benefit from a broader range of datasets.”
“Our research shows that the buy-side continues to adopt TCA tools, and as client needs advance, systems providers are responding by continuously investing in their TCA solutions and offering enhanced features.”
Bloomberg BTCA delivers transaction cost analysis alongside Bloomberg’s global market data across a wide range of trading benchmarks and asset classes. BTCA offers trading insights that help clients create and monitor their best execution strategies. Using BTCA’s exception-based workflows, traders can help ensure they meet a firm’s compliance and execution policies and provide the risk team with granular details of the entire trade flow life cycle.
Bloomberg Data License content spans Reference, ESG, Pricing, Risk, Regulation, Fundamentals, Estimates, and History covering more than 70 million securities and 40,000 data fields. Customers can browse, examine and subscribe to enterprise datasets at data.bloomberg.com, and access this content via a REST API, SFTP or natively in all major cloud providers.
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