Many financial organizations use Bloomberg downloads to capture Bloomberg messaging for SEC, FCA and FINRA compliance. Though these processes have been in place for many years, the introduction of AI platforms like Microsoft’s Copilot means that the capture mechanisms in place should be revisited so AI can fully leverage the messaging and market information.
Bloomberg downloads consist of several files, but the most important are the Instant Bloomberg (IB) files and the Messages (MSG) files. IB files contain the conversations between two or many participants. AI or Copilot platforms won’t be able to link the user’s @bloomberg.net account with their corporate email account so the most important task is for the capture software to replace the Bloomberg email address with the corporate email address.
To further analyze conversations for AI, the other participants must also have their corporate information added to their address so that Copilot or other programs can understand which conversations have occurred with counterparties or external organizations. This is crucial for AI tools that reconstruct trades or analyze potential insider trading concerns.
The MSG files are typically broadcast market information such as bond offerings and are distributed to many participants. These are not conversations per se but rather necessary for AI processes like trade reconstruction. Again, AI platforms won’t be able to recognize corporate email addresses and Bloomberg doesn’t provide the corporate email addresses for participants but does include the Company Name which should be incorporated into the MSG processing.
Please contact us if you have questions as to how your firm is handling Bloomberg files.