Bloomberg has fast-tracked the launch of its new data management service, Data License Plus (DL+), which looks to aggregate client data into a single dataset, the firm has recently stated on its website.
Bloomberg said that given the shift to working from home amid the global coronavirus pandemic, it will bring the launch forward to offer clients access to Bloomberg Data License content from anywhere in the world.
The new platform aims to help users create more efficient workflows around data management. They will be able to access it through a web-based interface, which reduces data processing effort for clients, according to Bloomberg.
It will also and distribute Bloomberg data to systems, applications and users, while linking datasets and legal entities atomically, the firm noted.
Maximising the value of Data License with DL+
“Bloomberg is excited to introduce Data License Plus which elevates Data License to the next level by solving common challenges for our clients that struggle to aggregate data and make it available throughout their firms,” Gerard Francis, Global Head of Enterprise Data at Bloomberg, said.
Financial institutions spend a significant amount of time, money and resources acquiring, managing and distributing data, according to Bloomberg.
Data License Plus (DL+) provides a scalable, managed service that enables Data License customers to improve operational efficiency and make their data more accessible, usable and transparent, the firm stated.
The new Bloomberg product is part of its Enterprise Data business, which delivers pricing, reference and regulatory datasets, real-time market, event and news data. It also supplies liquidity analytics, alongside data management and distribution technologies.