Paris – LexiFi and Bloomberg today announce the extension of their previously announced technology integration. LexiFi’s Instrument Box is used to support the new Bloomberg Derivatives Library (DLIB) on the Bloomberg Professional service, the financial data and information platform used globally by more than 325,000 financial professionals.
DLIB provides multiple tools for every step of the derivatives workflow, from idea generation and market-data analysis to structuring and pricing new products, using either standard templates or advanced scripting capabilities. These two capabilities rely on LexiFi’s financial contract description language, MLFi (Modeling Language for Finance). By using BLAN, Bloomberg’s simplified scripting language built around MLFi, users of DLIB are able to formally describe any financial instrument and automate the entire product life cycle. DLIB and Bloomberg’s pricing models have been tightly integrated with LexiFi’s fast and scalable pricing infrastructure and proprietary real-time code generation technology. This, combined with the flexibility of MLFi, allows Bloomberg to significantly reduce the time-to-market for covering new product structures in DLIB.
“Bloomberg is committed to providing a complete workflow for all our derivatives, structured products and strategies functionality,” says Jose Ribas, Global Head of Derivatives and Structured Products at Bloomberg. “We are pleased to extend our integration with LexiFi based on the success of our earlier collaboration. We have been extremely satisfied with LexiFi’s technology, high-quality of service and support for our business. Their contribution has been valuable to the development of our new Bloomberg Derivatives Library, DLIB, and has enabled us to launch it significantly more quickly.”
“Bloomberg and its skilled financial engineers have made the best use of our technology, providing DLIB users with an impressive feature set and making the power of our contract description language available to users of the new function. We are proud to continue our collaboration and continue delivering through the integration of our latest software, to Bloomberg Terminal subscribers worldwide,” says Alain Frisch, Chief Technical Officer of LexiFi.
LexiFi is the leading developer of innovative financial software, combining advanced techniques from Theoretical Computer Science and from Mathematical Finance to redefine the way software for financial derivatives is built. Its award-winning MLFi contract description language precisely captures the terms and conditions of financial contracts, supporting the diversity of derivatives and structured products in a scalable way. Combined with LexiFi’s analytics library, MLFi empowers LexiFi Apropos, its integrated flagship product used by financial institutions to manage their portfolio of structured products. The same technology is also available in Instrument Box, a portable embeddable component designed to be easily integrated into third-party applications. LexiFi is based in Paris, France. For more information, visit lexifi.com.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit Bloomberg.com or request a demo.