Bloomberg Symbology Accepted by FINRA for Regulatory Reporting

By Bloomberg | Mar 20, 2012 6:09 PM UTC

Bloomberg executives announced today that the Financial Industry Regulatory Authority (FINRA), the largest independent regulator for securities firms doing business in the United States, now recognizes Bloomberg Open Symbology (BSYM) for its Trade Reporting and Compliance Engine (TRACE).

Bloomberg Open Symbology, or BSYM, gives financial firms, exchanges and data providers an alternative to using proprietary naming conventions, which typically come with costly and restrictive license agreements.