Leveraging Bloomberg and Thomson Reuters data to expand Futures & Options Trading

Published in Industry Insights

Published on February 18th, 2015

“Bloomberg PolarLake enabled ITG to concentrate on our Derivatives business, whilst they concentrate on delivering the Data Management service to support us. This success was the result of great collaboration between ITG and Bloomberg PolarLake leveraging Bloomberg and Thomson Reuters data products.”   

Matthew Timberlake, Managing Director, ITG

Meeting the Business Need

A key component of the ITG business model is the delivery of industry-leading market transparency to the firm’s clients via its brokerage services.

This requires the ability to access market data from many sources and to communicate this information in a form that can be understood by clients and execution brokers alike.

In order to meet business demand for increased derivatives trading, ITG selected Bloomberg PolarLake to provide a Futures and Options Security Master Data Management Service to intelligently connect and match contract, customer and market data.

Following a three-month period of close co-operation between ITG and Bloomberg PolarLake, the service was implemented successfully and on schedule, integrating and matching data across:

  • Bloomberg and Thomson Reuters Market Vendor data products
  • 30+ derivative marketplaces including CME, ICE and CBT
  • Internal trading and reporting systems driven by client internal identifiers

The service incorporates 24×7 Bloomberg PolarLake Data Operations processes including:

  • Monitoring of daily operations
  • Managing matching exceptions across all inputs
  • Exchange, Vendor Data, Internal  Metadata management and maintenance
  • Matching rolling futures to stable identifiers across sources
  • Provision of Daily Data Quality Reports

Each business day, validated and transformed data, including matched keys, is delivered to ITG for use by internal trading and middle and back office systems together with client and execution broker trading communications.

The managed service has enabled ITG to unlock the data barrier, thereby providing the essential transparency required to expand derivatives trading.