Refinitiv, Bloomberg miss out on Beijing stock exchange trading as traders seek live feed from rival data providers
- Bloomberg is said to be working on getting a live data feed by the end of December, according to a note to clients seen by the Post
- President Xi called for the new exchange to provide a funding lifeline to the nation’s innovative ‘little giants’
Refinitiv’s Eikon and Bloomberg services did not transmit live pricing when 81 companies began trading on the Beijing Stock Exchange on Monday, according to some onshore traders.
That is a source of irritation for investors, particularly foreign funds with onshore investing quotas, who had to turn to rival local information providers like Wind Info and Shanghai DZH for trading data.
Bloomberg’s data and programming teams are working to make the data available on its trading terminal by late December, according to a note to one of its bank subscribers seen by the Post. Refinitiv did not immediately respond to a request for comment.
London-listed LSE Group completed the purchase of Refinitiv in January this year. The former financial and risk unit of Thomson Reuters has an annual sales of US$6.25 billion, according to its website. New York-based Bloomberg is said to generate about US$10 billion of revenue.
