Financial Data Marketplace Intrinio Adopts Open-Source Global Identification Standard

Intrinio data feeds now use the financial instrument global identifier (FIGI)
 
 
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Tags:
* Fintech
* Big Data
* Finserv

Industry:
* Finance

Location:
* St. Petersburg - Florida - US

Subject:
* Features

ST. PETERSBURG, Fla. - May 17, 2017 - PRLog -- Intrinio, a financial data and app marketplace, today announced it has adopted the open-source global identification data framework, the Financial Instrument Global Identifier ("FIGI"), for all listed securities in its coverage. All Intrinio data feeds on the marketplace are now integrated with the FIGI identifiers enabling more consistent and higher quality financial data without requiring the use of expensive proprietary security identifiers.

Leveraging OpenFIGI.com, Intrinio has linked all its financial data feeds (more than 30 global exchanges, over one hundred thousand securities from multiple market data providers) with FIGI identifiers to eliminate redundancy, streamline workflow, and reduce risk. Through this integration, Intrinio joins the movement to promote open symbology by using FIGI as the backbone of its security identifier and security master system. The OpenFIGI API is completely integrated with the Intrinio API, providing mappings between other identifiers to the FIGI identifier. Financial data, such as historical end-of-day stock price data, is retrievable from vendors like Exchange Data International using the FIGI identifiers to ensure specificity and accuracy.

Intrinio provides dozens of a-la-carte financial data feeds on its self-serve marketplace. These feeds include fundamentals, economic data, insider transactions, institutional holdings, executive compensation, stock prices, options prices, and earnings estimates. Intrinio's mission is to make this data affordable, but it also places emphasis on accessibility and quality. OpenFIGI ensures that, when a user of the Intrinio API requests data about any of the securities in its coverage, the correct information is returned as represented by the source or the market data vendor.

"Discovering and integrating OpenFIGI has completely transformed our architecture," said Joey French, President of Intrinio. "The number of data feeds on the Intrinio Marketplace is growing exponentially. With each new data set we add, the complexity of identifying the underlying securities grows. Integrating FIGI has ensured that we keep a clean security master and continue to deliver quality, organized data to our users."

Richard Robinson, Head of Industry Relations and Strategy for Open Symbology said, "Firms like Intrinio are transforming the financial data space using modern methodologies and tools. The OpenFIGI framework is meant to enable these exact kinds of advanced data management needs while providing seamless integration into existing legacy data structures and ensuring data quality."

MEDIA CONTACTS

Intrinio: Rachel Carpenter press@intrinio.com 727-308-0366

Susan Doyle sdoyle37@bloomberg.net 202-807-2213

About Intrinio

Intrinio's mission is to help investors save money and make time so they can live more meaningful lives. We believe investors waste time on data collection, data entry, and data analysis because traditional financial data providers stifle innovation through high prices and restrictive technology. The Intrinio Fintech marketplace solves this problem by making financial data affordable and easy to access for developers, unleashing their creative potential to build the next generation of financial analytics products. Dozens of data feeds are currently available at disruptively low prices, providing data types such as FDIC bank data, real time IEX stock prices, fundamental US 10-Q and 10-K data, and insider transactions. Intrinio was founded in 2012 and is headquartered in St. Petersburg, Florida. For additional information, visit http://intrinio.com or email press@intrinio.com.

About FIGI

The FIGI is an openly shared standard of the Object Management Group ® (www.omg.org), an international non-profit technology standards consortium founded in 1989. The FIGI standard links its unique, semantically meaningless generated twelve-character identifier to a hierarchical dataset that contextually specifies a financial instrument.

Rather than replacing existing identification symbologies, the FIGI serves as a framework that enables linking existing identifiers into a standardized relationship structure based on the relevant metadata associated with different identification approaches. It can also act as a primary identifier across asset classes where no global identifier currently exists.

FIGI covers more than 380 million instruments across all asset classes, and is provided at no cost as a public good, free of licensing fees or material impediments to usage. It is issued and distributed by Bloomberg L.P. as Registration Authority under the auspice of OMG ®. For more information, please visit www.OpenFIGI.com and Twitter @OpenFIGI or email support@OpenFIGI.com.

Contact
Rachel Carpenter
***@intrinio.com
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Tags:Fintech, Big Data, Finserv
Industry:Finance
Location:St. Petersburg - Florida - United States
Subject:Features
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