Bloomberg aims to bypass Thomson Reuters

Bloomberg, the US financial data and information provider, is set to launch a new front in its war with Thomson Reuters by offering a free and open software interface that aims to bypass its rival’s lucrative code for identifying securities on terminals.  

The group has developed a tool that allows financial institutions, rival data vendors and software developers to connect and adapt their increasingly complex trading and data connections through a single source at no cost.

It also represents part of Bloomberg’s push to build on Thomson Reuters’s long-running dispute with European antitrust officials into so-called market access codes, a lucrative business for the Canadian group.

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