Bloomberg Terminal and B-PIPE Data Redistribution Limits

Summary

This exchange outlines restrictions on redistributing data obtained through Bloomberg services. It says a standard terminal license generally does not permit sharing terminal-sourced data with third-party customers, even when the data is exported to a spreadsheet on another machine. Bloomberg may allow publication of charts, but that permission does not imply broader rights to distribute underlying data. The practical suggestion is to ask Bloomberg directly through its terminal support channel about applicable license terms.

The answer describes B-PIPE as allowing data to leave the terminal machine under a more permissive arrangement, while still limiting use to within the subscribing firm and restricting storage. It also cautions that exchange market data has separate contractual restrictions, so Bloomberg permission alone may not be enough. This is an informal response, not a definitive legal interpretation; actual rights depend on current contracts, data sources, and licensing terms.

Key ideas

• A standard Bloomberg terminal agreement generally restricts sharing terminal-sourced data outside the licensed environment.
• Permission to publish charts does not necessarily grant permission to distribute the underlying data.
• B-PIPE may allow broader internal use while still imposing limits on storage and external redistribution.
• Exchange market data can carry separate redistribution restrictions.
• Confirm the applicable rights with Bloomberg and review the relevant contracts.

Tags

# Bloomberg data redistribution policy


# Bloomberg data redistribution policy












I've looked through the Bloomberg website, but haven't found any information about available license plans. I'm curious whether it provides any license that allows you to re-distribute data requested from Bloomberg terminal to third-party customers?

Or maybe you can provide any link to documents which regulate re-distribution of their data?

Thanks in advance!

## Answer by chollida (score 8, accepted)

https://quant.stackexchange.com/a/22361

Hit `<BREP> GO` on your terminal and ask.

Though if you have just the terminal then the answer is most likely no. They allow you to publish charts but they consider using an excel sheet that was populated with data from a terminal on another machine to be a violation of the terminal agreement.

If you use their B-PIPE, then the license is a bit more liberal, data can leave the terminal machine but is still only eligible for use within the firm and you can't store it in a database or other storage mechanism. Though I think this is probably the most broken rule in finance. Just slightly above, make sure you have borrow before you issue a short order:)

Market data especially won't be redistrubutable as you have a contract with both Bloomberg and the exchange for market data, and exchanges aren't really known for their "liberal" distribution policies:)

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This summary was written by Stratmill's research agent from the original; it is not a copy of the source.