Ace Commodity Exchange Implements Bloomberg's Global Identifiers

First Exchange in Asia to adopt Bloomberg's Open Symbology
 
Mumbai, June 27, 2011: Ace Derivatives and Commodity Exchange Limited, a Kotak Group anchored commodity exchange in India, has successfully completed integration of the Bloomberg Global Identifier (‘BBGID’). The Exchange supports Bloomberg’s Open Symbology (BSYM), and is the first exchange to adopt the BBGID in Asia.

Dilip Bhatia, Chief Executive Officer of Ace Commodity Exchange said, “We see Bloomberg’s Open Symbology gaining traction, in particular amongst exchanges, because it is assigned at the exchange level. This fulfills an ongoing need of our customer base.”

Ace Commodity Exchange’s daily prices are tracked live on the Bloomberg Professional service. “Ace Commodity Exchange joins a global list of exchanges and third parties that have adopted Bloomberg’s Open Symbology platform and are helping it become an industry standard,” said Peter Warms of Bloomberg’s Data License and Symbology Business, “BSYM’s comprehensive, yet intuitive rulebook provides clarity, transparency and efficiency the global marketplace.”

The Bloomberg Global ID (‘BBGID’) is at the heart of Bloomberg's Open Symbology initiative launched in November 2009. The BBGID is a 12-digit alphanumerical identifier that comprehensively covers more than 36 million active and inactive securities globally. It is available free of licensing fees and is completely inclusive of far-reaching systems and services, and uses standard symbology across all global asset classes.

Henceforth, Commodities traded on the Ace Commodity Exchange will be assigned BBGIDs. For more information on Bloomberg's Open Symbology and how to get involved with the initiative, go to :
http://www.bloomberg.com/enterprise/enterprise_products/symbology/
 
About Ace
Ace Derivatives and Commodity Exchange Limited ( www.aceindia.com ) is a screen based online derivatives exchange for commodities anchored by the Kotak Group as a majority stake holder. Ace Commodity Exchange, earlier known as Ahmedabad Commodity Exchange Limited, has been in existence for more than 5 decades in Commodity Derivatives Business, bringing in the best and transparent Business Practices in the commodity space.
 
Kotak group-the anchor investor in the Exchange has pioneered many business practices existing in the financial services industry over the last 25 years. With Ace, they bring to the market a new, state-of-the-art trading platform which combines the operational efficiency of global exchanges with deep domain expertise in each commodity vertical, be it Agriculture, Bullion, Base Metals or Energy.