Connectivity & Integration
Enhancing Information Technology Flexibility
The technology stack for asset managers, hedge funds, investment banks and broker dealers requires fluid integration of multiple systems working in concert. Integration and coordination among these systems typically require large movements of data through many separate feeds. Firms want real-time access to the latest, most accurate view of data without the need to maintain feeds or support unnecessary infrastructure. All of these requirements drive firms to look for open, extensible solutions. This is what Bloomberg TSCI helps establish.
Create seamless workflows
Firms can easily integrate internal and external systems directly into Bloomberg-based workflows and deploy them globally over our network to any user with access to the Bloomberg Professional® service.
Minimize operational risk
TSCI delivers integrated global connectivity, data transformation services and business event process management between Bloomberg Trading Solutions’ Order Management Systems, AIM and TOMS, and external client or third-party systems to increase operational efficiency, lower implementation costs and minimize operational risks.
Lower total cost of ownership
By eliminating the need for infrastructure build-outs, version upgrades, continual tuning, and system maintenance, TSCI clients experience a lower total cost of ownership.
TSCI integration specialists work with you to determine how best to connect Bloomberg Trading Solutions applications with in-house and third-party systems. We develop a schedule for simple or phased implementation that aligns with your objectives. Our experienced project managers not only excel at scoping requirements and managing the process, they are skilled in integration and the specific demands of integrating Bloomberg data and data mechanisms.
Bloomberg integration specialists use the following offerings to make sure our hosted trading solutions behave as though they are locally installed:
This hosted middleware, enriches, transforms and manages any feed, including real-time and batch. It provides global connectivity, data enrichment, data transformation services and event process management between our trading solutions and your firm’s internal proprietary systems and external third-party systems.
Trading Solutions Application Development Framework (TS ADF)
A flexible, programmatic API that enables external systems to integrate with our trading solutions in real-time, ensuring data synchronization. It allows access to data from trading applications whenever you need it, and this real-time interface manages both integration and trade data access.
Certified Third-Party Interfaces
Pre-integrated solutions that connect Bloomberg solutions with a growing library of certified third-party systems, ensuring turnkey implementations, seamless upgrade paths and easier support. By eliminating the need for infrastructure build-outs, version and asset class upgrades, continual tuning and system maintenance, Bloomberg’s Certified Third-Party Interfaces help reduce total cost of ownership.
These offerings integrate external systems directly with Bloomberg-driven workflows, allowing you to deploy them globally over our network to Bloomberg Professional® service subscribers. Essentially, this allows firms to construct best-of-breed solutions, create seamless user experiences and support phased migrations when transitioning from other systems.
Trading Solutions Integration Portal (TSIP)
TSIP is a portal/dashboard designed to help firms configure, manage and monitor all of the integration and connectivity points between your Bloomberg OMS and external systems, with options for scheduling, alerts, monitoring, operational control and connectivity configuration of real-time and batch data from Bloomberg.
IT managers are working hard to maintain high performance while reducing cost and risk. Inefficient connectivity can cause performance issues and increase support and maintenance costs. Bloomberg Trading Solutions Connectivity & Integration (TSCI) provides Best Practices to help firms address these issues and establish more seamless, fully integrated workflow.
Establish a more seamless, fully integrated workflow
BATCH SIMULATION OF REAL-TIME DATA
Some clients set up batch feeds that run every 10 to 30 minutes to receive a “snapshot” of incremental transactional and positional data into their downstream systems. This happens because receiving systems can’t connect in a real-time manner. Firms attempt to simulate a real-time connection by repeatedly scheduling files created from batch jobs, which leads to:
- Untimely information that compromises trading opportunities and investment decisions
- Errors caused by batch data
- Perceived latency due to dependency on batch file schedules
- Long processing time due to multiple points of failure in batch processing
- High operational costs to maintain multiple batch sets and multiple destinations
- Monitoring, tracking, synchronizing, reconciling, documenting and training costs
If there are multiple destinations, operational costs run even higher. There are also adverse effects on scalability, such as the rising cost of upgrades, changes and support.
Bloomberg offers two potential solutions:
Gateway: With the Gateway, firms can use real-time transactional feeds even if target systems only support batch files. The visually based Gateway can convert real-time feed messages and data, triggered by real-time events, into flat files. It also can provide a powerful, efficient mechanism for receiving real-time feeds without needing to implement other costly real-time software systems.
Trading Solutions Applications Development Framework (TS ADF): With TS ADF, firms can programmatically subscribe to real-time position and P&L changes as well as real-time transactions as they occur in Bloomberg OMS (AIM and TOMS). This allows firms to use the same applications that normally “wait” for scheduled files to front-end real-time data changes in AIM and TOMS with either desktop dashboards and/or system-to-system applications running in the background.
MULTIPLE REAL-TIME FEED VERSIONS
Some firms set up new versions of real-time trade feeds when they need new data on their feeds, instead of adding new fields to existing real-time connectivity. This happens because third-party systems and proprietary systems often require data changes to support new industry practices, data requirements and asset classes. These changes to existing production feeds, however, may break previously established connectivity. This creates numerous issues:
- Implementation costs to configure and certify the new feed
- High maintenance and support costs
- Non-centralized administration and more operational overhead
- Decreased performance because every version of the feed requires separate data acquisition routines to run at the point of feed execution
- Slower trade feeds throughout due to increased latency and processing time for the whole firm
- More points of failure
- Difficulty in isolating and debugging data discrepancy issues across a variety of feeds
Bloomberg offers two ways to solve this issue:
Gateway: Bloomberg has invested in tools to simplify system flow by taking one comprehensive feed with all data points needed by all downstream systems. By leveraging the Gateway to transform this superset of data into all versions of feeds required downstream, firms can do this more efficiently and scale to much higher levels of performance than separate, multiple versions of direct feeds. The Gateway can act as a single centralized middleware that is capable of integrating and maintaining all downstream connections through a single feed of data from Bloomberg.
Trading Solutions Application Development Framework (TS ADF): The TS ADF offers a complete repository and SDK into all of the Bloomberg Trading Solutions data elements that pertain to positions, transactions and appropriate Security Master data for holdings in a position. This gives firms an alternative way to access the exact data downstream systems require without the need to compile, deliver and parse a feed. As such, firms can now surgically program a multitude of applications to pull the exact data they each individually require without the overhead associated with configuring and maintaining feeds.
REDUNDANT ANALYTIC FEEDS INTERFACES
Some firms set up separate custom analytic feeds that contain much of the same data as other feeds, producing duplicate data multiple times daily. This occurs because different downstream systems use different interface formats and specifications. For example, one system may take a csv file format while another takes a database connection or positional format. Firms may also create a new feed for a new field requirement rather than risk breaking an existing process. Some may lack the time to learn a new feed setup due to tight implementation schedules. Others may have an accumulation of old feeds that are no longer relevant but have not been cleaned up.
Regardless of the reason, redundant analytic feeds can raise serious issues:
- Pressure on overall system performance and elongated back-end timings
- Slower batch and end-of-day processes, putting all downstream systems at risk
- High costs of implementation, operational complexity and increased support
- Complexity of interfaces raises the risk of incorrect settlement and end of day process, potentially affecting all downstream systems, including: accounting, reporting, cash and position management systems
Bloomberg offers two ways to solve this problem:
Gateway: The Gateway allows firms to schedule one comprehensive analytic feed that contains all of the data points that downstream systems need. The Gateway can then take this data set and create multiple versions of analytic feeds needed by separate downstream systems, users and reports. By collapsing all of these direct analytic feeds into a single data set into the Gateway, customers can dramatically improve their overall feeds performance and back-end times.
Trading Solutions Application Development Framework (TS ADF): The TS ADF lets firms query Trading Solutions data directly using a programmatic API. By using TS ADF, firms can eliminate the need for separate batch files and schedules, and consolidate all redundant batch feed set ups. TS ADF can provide on-demand queries from customer applications to positional, transactional and security data. For example, an in-house position management system can query directly into the firm’s positions or transactions, and subscribe to position changes without the need to take and store a scheduled feed of data.
Seamless Workflows Leveraging Bloomberg’s Certified Third-Party Program
Bloomberg’s TSCI group enables integrated workflow solutions and seamless interoperability with Bloomberg’s order and execution management solutions, risk and other solutions for buy side and sells side firms.
TSCI continues to formalize relationships with third-party system providers to provide turnkey implementations, seamless upgrade paths, and easier ongoing maintenance and support. Both Bloomberg and these third-party system providers are fully invested in the success of these solutions.
Customers utilizing these interfaces no longer need to build and maintain these interfaces on their own. By eliminating the need for infrastructure build-outs, version upgrades, continual tuning, and system maintenance, certified third-party interface customers experience a lower total cost of ownership.
Certified third-party interfaces include the following features:
- Turnkey Connectivity – Implementation times for a Certified Third-Party Interface are markedly reduced
- Commitment – Bloomberg’s formalized relationship with the Third Party ensures continued support for a Certified Third-Party Interface going forward
- Migration Path – A relatively seamless transition from a custom interface to a Certified Interface
- Asset Class Coverage – All mutually supported asset classes are covered
Going into 2014, we have a number of other third parties in negotiation and development and will be releasing these throughout 2014.
Calypso Technology, Inc
CCK Financial Solutions
Eagle Investment Systems
PACE // STAR
Misys Summit FT