Goldman Sachs Bloomberg data partnership shows Wall Street opening up - Business Insider

David Solomon, Chairman and CEO of Goldman Sachs, speaks at the Bloomberg Global Business Forum in New York.simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.

The tie up shows how Wall Street firms are increasingly coming to the conclusion that they have to work with third parties and open up their systems if they want to attract and keep clients. The partnership is a big deal because it shows how a notoriously secretive bank and a data provider known for its branded Bloomberg terminals are working together to get in front of clients.

"The breath [of data] that they cover is a lot more than what Goldman covers," Darling said. "Our data is very focused on what we're trading and the instruments here, whereas they're covering every single market and pretty much every instrument." More broadly, the agreement is another sign that Wall Street is overcoming its historical preference for locking customers into closed systems, whether that be Bloomberg's ubiquitous terminals or one of Goldman's single-dealer platforms for trading securities.

The software development has already been completed and Goldman is now in the testing phase, Darling said. The product should go live to clients before the end of March, she said. Deal talks really picked up last summer.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Goldman and Amazon's lending partnership presents a huge threat to fintechs - Business InsiderThe Amazon partnership signals Goldman is continuing its push to become an ally to big techs looking to broaden their financial services footprint
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Fiat Chrysler's Q4 earnings meet Wall Street expectations, stock moves up 3% pre-market - Business InsiderFCA said its operating profit matched expectations, boosted by strong North American business and better results in Latin America.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Peloton sinks after missing Wall Street's sales forecast for next quarter - Business InsiderThe fitness equipment company bested expectations for second-quarter revenue and losses, but its forward-looking guidance left analysts wanting. A glorified clothes hanger Good
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Plaid's CEO discusses building controls around customer data. - Business InsiderPlaid's CEO weighs in on the debate over customer data and tells us why the buzzy startup wants to make it easier for people to turn fintechs' access to info on and off
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »