LONDON, Feb. 28, 2023 /PRNewswire/ — Bloomberg announced today a strategic initiative to collaborate with General Index (GX), the world’s first technology-led benchmark provider. With this initiative, all Bloomberg Terminal customers can now access a selection of GX’s robust, reliable pricing for the world’s commodity markets, with 400+ all-to-see prices, including oil spot assessments.
The addition of GX pricing to The Bloomberg Terminal further strengthens Bloomberg’s comprehensive, rich commodity pricing data that spans from spot pricing to OTC curves. This collaboration democratizes access to commodity pricing data for all financial participants that have exposure to the commodity markets, including equity investors. GX aggregates trade data to build a full view of market activity, and then applies algorithmic index methodologies consistently, accurately and without subjective judgement.
“With geopolitical volatility and soaring energy prices, there is strong demand among investors for reliable, transparent commodity pricing data,” said Emilie Gallagher, Global Head of Commodities, FX, and Macroeconomics at Bloomberg. “In addition to investors and commodity trading houses, multinational corporations and governments working toward energy transition goals have a vested interest in closely tracking commodity price data. Through this collaboration with GX, Bloomberg is delivering high quality oil spot data and commodity pricing to the wider financial industry.”
In working closely with GX, Bloomberg will provide 400+ prices all-to-see aligned with market closures for each region. Pricing will be available for European Crude, US Crude, Middle East Crude, European Refined Products, US Refined Products, Asia Refined Products, LPG, and Marine Fuels. GX provides both new benchmarks to reflect evolving trading patterns and well-established commodity pricing points. Alongside the price assessments, GX will provide a rich layer of metadata for customers to access.
“General Index was created on a simple principle – fair access to accurate commodity price data. Prices help everyone decide how to utilise our world’s resources, and the GX ethos is that those prices should be available and affordable to all,” said Neil Bradford, Founder and CEO of General Index. “By working with Bloomberg, we are opening up access to reliable commodity pricing data to a diverse group of market participants.”
General Index commodity benchmark prices are available via the Bloomberg Terminal and accessible at SPOT GX <GO>.
About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.
About General Index
General Index brings robust, reliable price transparency to global markets. As the world’s first technology-led benchmark provider, General Index aggregates trade data to build a full view of market activity, and then applies algorithmic index methodologies consistently, accurately and without subjective judgement. General Index is authorised by the UK’s Financial Conduct Authority (FCA) as a benchmark administrator and complies with EU and UK Benchmark Regulation.
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SOURCE Bloomberg
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