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Bloomberg PolarLake CEO: Markit Deal Proves Our Independence

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John Randles, chief executive officer of Bloomberg PolarLake, says a deal to distribute data from Markit proves his company is an independent entity that is open to working with third-party data vendors

On Nov. 5, data vendors Bloomberg and Markit announced an agreement to distribute one another's reference and pricing data through the managed service offerings of their respective enterprise data management (EDM) businesses, Bloomberg PolarLake and Markit EDM.

Here, John Randles, Dublin-based chief executive officer of Bloomberg PolarLake, explains why the deal is important for his company and why he is keen to work with third-party data vendors.

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A good thing, but will it allow customers to create the custom "golden copies" they need?

This is an important acknowledgement that both Markit and Bloomberg recognize that their EDM solutions must be independent of their data businesses, and so should make it easier for clients to use these solutions to load in data from multiple vendors. That nominally puts their EDM solutions on the same footing as independent solutions providers. But what it doesn't seem to do is solve the customers' problem of mixing and matching data sources to derive their own "golden copy" in a managed services environment, especially if that specific customer wants to compare data from the various sources to decide which vendor to use in case of a discrepancy in data values. If the customer licenses the data from multiple sources and does the comparisons themselves, there's not much the vendors can do about it. But how will Markit or Bloomberg react if a managed service run by the other vendor is routinely comparing the two data sources? I'd be very surprised if that would be permitted even if their EDM solution is nominally independent of their data service. I'd be very interested to hear their comments and those of others on the subject.

Posted by: Gerry Mintz Nov 08 2013

Winner's Announced: Inside Reference Data Awards 2014

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The winners of the 12th annual Inside Market Data Awards 2014 and Inside Reference Data Awards 2014 were announced in New York on May 21, recognizing industry excellence within market data and reference data. To view the winners across the 31 categories click here.

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