Open Symbology is an open data standard, defined by the financial industry, to provide a solution to consistently identify financial instruments, regardless of asset class, or function being performed. Symbology refers to more than a code – it is the methodology and system for defining how data is related, and how that information is conveyed. Open refers to being an open data standard. FIGI is the first and only open data standard for identification of financial instruments. Open data is born from the core principles of the open source movement – that a piece of data is open if anyone is free to use, reuse, and redistribute it — subject only, at most, to the requirement to attribute and/or share-alike.
FIGI closes the gap in existing symbology systems. Providing coverage across all global asset classes, real-time availability, and flexibility for use in multiple functions, firms are able to tie together disparate and fragmented symbologies, eliminate redundant mapping processes, streamline the trade workflow and reduce operational risk. FIGI also fills in the gap for asset classes that do not normally have a global identifier, including loans, futures and options.
Key Features and Coverage on RIMES
For this data source, RIMES hosts approximately 18260 indices. Some of the data items available include:
- Bloomberg Global Identification Key
- Bloomberg Market Sector
- Bloomberg Symbol
- Bloomberg Ticker
- Bloomberg Ticker and Market Sector
- Bloomberg Unique Identification Key
- Security Type
- Database Symbol