OpenGamma Holds 1.0 Release to Add BLPAPI

UK-based open-source analytics and risk management software provider OpenGamma is delaying the 1.0 release of its OpenGamma platform to include its Bloomberg Integration Module, following Bloomberg’s decision to open-source its data distribution API (IMD, Feb. 6).

The vendor had completed the platform, and was conducting final QA documentation tests, when Bloomberg opened its BLPAPI, which provides a single interface for market, historical and reference data, providing all the data needed to run OpenGamma’s risk and trading analytics platform, according to OpenGamma chief executive Kirk Wylie, who says OpenGamma’s Bloomberg Integration Module will be released as entirely open-source.

“With nothing other than the Bloomberg infrastructure that users already have, once our integration module is released, they’ll be able to download the open-source OpenGamma platform and immediately see live, ticking risk on their portfolios,” Wylie says.

Previously, firms needed a commercial license to access OpenGamma’s Bloomberg adapter, while non-commercial customers—such as prospective clients evaluating the platform, or research and academic facilities—needed to build their own integration.

The vendor is now finalizing the symbology management of its integration module. Before, since only commercial clients had access to the Bloomberg module, OpenGamma was able to certify that they are valid Bloomberg clients, entitled to use Bloomberg’s proprietary identifiers, Wylie says. To release its module as open-source, the vendor must now work with Bloomberg to determine which proprietary identifiers it can continue to use, and which must be switched to Bloomberg’s Open Symbology, he adds.