In an effort to spur innovation, Bloomberg LP is opening its market data interfaces to everyone—without cost or restriction. Their application programming interface, known as BLPAPI (Bloomberg LP API), is already used by clients and other technology providers who build connections between financial firms’ applications and Bloomberg’s market data. “We are essentially taking the programming interface that we use extensively already and we are putting an MIT-style license around it,” said Shawn Edwards, Bloomberg LP’s chief technology officer, told Wall Street & Technology.
The BLPAPI interface works with several programming languages and operating systems, including Java, C, C++, .NET, COM and Perl. BLPAPI does not require developers to share their code. “The MIT license makes no requirements of people to share their work with us. This is truly open source, free use,” Edwards told Wall Street & Technology.
Bloomberg believes the move will make their product even more competitive. “We sell market data systems and that is our business,” Edwards told Wall Street & Technology. “We want to be the data provider of choice not because we have locked them in, but because we have the best product and the best service.”
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