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Bloomberg market data API made public for C++, .Net, Java, Perl

computerworlduk.com

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Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#11

Post by travisglines »

travisglines wrote: post #7

I'm not convinced that they're actually offering the data for free here. Merely the use of the API is now free (You used to have to actually purchase Bloomberg terminals/hardware to use it). I've emailed both of their contact addresses requesting more information, will edit this as soon as I get a response.

Yeah I think in retrospect this comment was sort of silly. We all read this post hoping that they were giving away a real time free financial data API (that would be huge), but really that's how they make money.

They just want to change their model a bit and have everyone able to access it easily by becoming a data API customer. It's probably a good move for them but I don't like the way they and the press covering this aren't mentioning that all it is is access to the same API as before without having to purchase the terminal now. (this is conjecture as I still haven't heard back)

Edit ... their response that confirms it:

    Hello Travis,
    Thank you for your inquiry.

    The Open BLPAPI initiative is meant to present the API as a free-use technology, 
    but the Bloomberg content and data services from Bloomberg 
    are still licensed products. 
    Our goal is to give you the freedom to develop applications using the API, 
    and once subscribed to a licensed data 
    service from Bloomberg you would be able to access the content.

    Regards,
    Bloomberg Open Market Data Initiative

Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#12

Post by bigbird »

Note that ths is just an API - to use it you still need to be a subscriber, and nothing they offer is cheap. In the tradition of their Excel APIs, this doesn't even come close to giving automated access to their entire database.

This API seems like a marketing tool designed to get people to build algorithmic applications around expensive real time feeds from Bloomberg.

Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#13

Post by chollida1 »

brownegg wrote: post #10
travisglines wrote: post #7

I'm not convinced that they're actually offering the data for free here. Merely the use of the API is now free (You used to have to actually purchase Bloomberg terminals/hardware to use it). I've emailed both of their contact addresses requesting more information, will edit this as soon as I get a response.

(Of course) the data won't be free. They don't get it for free--"tape" fees are a major source of exchange revenue. (Although it's possible some delayed feeds may be available, etc.)

> They don't get it for free--"tape" fees are a major source of exchange revenue.

This is the truth. It's pretty outrageous the prices the exchanges charge for real time data.

Though to be fair they are pretty good about letting you pay for what you want.

Most offer: - 15 minute delayed quotes, - real time top of book, - depth of book and the - raw fast data feed with not additions.

Pick what you want.

Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#14

Post by pnewhook »

travisglines wrote: post #7

I'm not convinced that they're actually offering the data for free here. Merely the use of the API is now free (You used to have to actually purchase Bloomberg terminals/hardware to use it). I've emailed both of their contact addresses requesting more information, will edit this as soon as I get a response.

The press release, http://open.bloomberg.com/pdf/bloomberg-open-pr.pdf, clarifies this. There's a footnote at the end.

"Bloomberg is offering its programming interface (BLPAPI) under a free-use agreement. This does not apply to any content."

Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#15

Post by Ecio78 »

travisglines wrote: post #11
travisglines wrote: post #7

I'm not convinced that they're actually offering the data for free here. Merely the use of the API is now free (You used to have to actually purchase Bloomberg terminals/hardware to use it). I've emailed both of their contact addresses requesting more information, will edit this as soon as I get a response.

Yeah I think in retrospect this comment was sort of silly. We all read this post hoping that they were giving away a real time free financial data API (that would be huge), but really that's how they make money. They just want to change their model a bit and have everyone able to access it easily by becoming a data API customer. It's probably a good move for them but I don't like the way they and the press covering t…

So, what's the difference between this and the current (previous?) access model where you use their already existing API to interact with their systems? The only difference seems that they have published the API and you dont need to have a real bloomberg machine in order to build your code around them.. am i wrong?

Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#16

Post by Ecio78 »

pnewhook wrote: post #14
travisglines wrote: post #7

I'm not convinced that they're actually offering the data for free here. Merely the use of the API is now free (You used to have to actually purchase Bloomberg terminals/hardware to use it). I've emailed both of their contact addresses requesting more information, will edit this as soon as I get a response.

The press release, http://open.bloomberg.com/pdf/bloomberg-open-pr.pdf , clarifies this. There's a footnote at the end. "Bloomberg is offering its programming interface (BLPAPI) under a free-use agreement. This does not apply to any content."

What am I supposed to do with a free programming interface if I have no access to the data? Maybe they want to "force" other market data providers to define a common standard for this kind of API? Or maybe they hope it will bring more third-party partners interfacing with their systems? I dont understand if they have also "test feed" that you can use to develop without an expensive agreement (afaik a bloomberg machine+service costs around 20k$/year)

EDIT: from one of their docs: "Bloomberg customers, non-Bloomberg users, vendors and third-party application developers can now adopt the interface for their own use." and "Furthermore, Bloomberg is evolving its interfaces into candidates for an open standard. Under this initiative, an independent committee would be formed to manage the future development of BLPAPI, while ensuring its stability and openness" http://open.bloomberg.com/pdf/bbg-eps-open-market-data.pdf

sorry for not reading it before

Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#18

Post by Ecio78 »

Ecio78 wrote: post #16
pnewhook wrote: post #14

Earlier quoted context omitted.

The press release, http://open.bloomberg.com/pdf/bloomberg-open-pr.pdf , clarifies this. There's a footnote at the end. "Bloomberg is offering its programming interface (BLPAPI) under a free-use agreement. This does not apply to any content."

What am I supposed to do with a free programming interface if I have no access to the data? Maybe they want to "force" other market data providers to define a common standard for this kind of API? Or maybe they hope it will bring more third-party partners interfacing with their systems? I dont understand if they have also "test feed" that you can use to develop without an expensive agreement (afaik a bloomberg machin…

Ok this example probably clarifies the rationale:

"A programming interface that is proprietary severely limits the options for firms that use them. Typically, a proprietary interface is contractually tied to the associated product. If the client decides to stop using the product, any references to the interface must be removed from the client’s applications. Further, the proprietary interface may not be copied and used for any other purpose, even if the firm remains a customer of that vendor for other uses. Together, these restrictions prevent the creation of adapters that could mitigate the costs and risks of migration"

Re: Bloomberg market data API made public for C++, .Net, Java, Perl

#19

Post by justincormack »

Ecio78 wrote: post #15
travisglines wrote: post #11

Earlier quoted context omitted.

Yeah I think in retrospect this comment was sort of silly. We all read this post hoping that they were giving away a real time free financial data API (that would be huge), but really that's how they make money. They just want to change their model a bit and have everyone able to access it easily by becoming a data API customer. It's probably a good move for them but I don't like the way they and the press covering t…

So, what's the difference between this and the current (previous?) access model where you use their already existing API to interact with their systems? The only difference seems that they have published the API and you dont need to have a real bloomberg machine in order to build your code around them.. am i wrong?

Before this, even if you paid you still did not get api access. Or any documentation. They act as if it is still an analogue teletext service right down to the ghastly UI. The terms of service forbid you from storing the data. This seems to be some sort of tentative step out of the twentieth century.
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