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Eikon Data API & Python: Powerful new combo for analyzing data

Saori Fotenos
Saori Fotenos
Director, Eikon APIs

The growth of data science is one of the main reason firms are migrating to Python, which is also playing a key role in the adoption of artificial intelligence. Python is relatively easy to learn, and users have access to a vast number of online communities that offer support, knowledge, and problem solving for users of all levels of expertise. It also helps them manage the growing need for insight as the speed, frequency, and volume of big data increases at a rapid pace. See how Refinitiv is embracing this technology.

As technology continues to transform financial services, coding skills are becoming increasingly important on Wall Street, valued nearly as much as finance degrees from elite business schools.

“In recent years, spurred by innovation and also regulation, banks and other financial institutions like hedge funds have evolved more and more into technology companies instead of being just financial intermediaries. Technology has become a major asset for almost any financial institution around the globe, having the potential to lead to competitive advantages”, says Dr. Yves Hilpisch, CEO and founder of Python Quants & The AI Machine.

Python—a multipurpose language used for tasks such as web development and data science—is a big part of this tech trend. It’s the fastest-growing major programming language in financial services, used in buy- and sell-side workflows.

Access the Refinitiv universe of financial data with our native Python API

Our Eikon Data application programming interface (API) lets users seamlessly access Eikon data from any in-house or third-party application on a desktop—and it now features native Python support which makes it easy to integrate and use along with libraries such as SciPy, Numpy or Pandas as well as Jupyter Notebooks.

Quant research analysts can now leverage the full power of the Python scientific computing ecosystem, working with the enormous breadth of content Eikon offers – to apply a new level of analysis and computational intelligence to myriad use cases.

Traders who currently rely on an off-the-shelf or custom-made OMS can power them with Eikon data to contain data costs, ensuring their entire workflow is powered by consistent, high-value data.

“We’ve been using VBS and Excel. It took one day to replace this with the Eikon Data API and Python! After that, we had the new system producing identical output to the old system. It also shaved 2.4 seconds off the runtime of a standard query that normally takes around 4.6 seconds.” – Eikon Data API user

Expert tutorials walk you through a range of Python applications beyond your spreadsheets

Dr. Hilpisch—a lecturer at the CQF Program, director of the Certificate Program in Python for Algorithmic Trading, and the author of three books about Python— worked with our Developer Community team to create a series of 13 video tutorials and accompanying Jupyter notebooks to demonstrate the amazing possibilities of analysing data beyond the confines of spreadsheets.

Topics include:

  • Symbology, focusing in particular on RICs, conversions, and data fields
  • Financial data science: retrieving historical data across asset classes, working with data using pandas, testing the “Random Walk Hypothesis” using financial time series data, and analyzing the data using linear OLS regression and visualizing the results
  • Portfolio theory: retrieving historical data across asset classes, generating statistics for single instruments and portfolios, simulating portfolio composition, composing and analyzing portfolios with regard to their expected return and volatility, and constructing minimum volatility portfolios
  • Algorithmic trading: Retrieving historical EOD data and intraday price data, deriving typical trading statistics, formulating momentum-based trading strategies, and vectorized back-testing

“We’re so pleased with the Eikon Data API and the power of the Refinitiv data. We have started testing code in R and now in Python and I am excited about the potential.’ Houssam, UK-Based Consulting Firm

Get more unique, deeper insight, faster – request an API key today

The Eikon Data API makes data analysis more powerful, more efficient, and more consistent across a diverse range of applications. You’ll be able to:

  • Access data directly from Eikon, powering in-house or third-party desktop apps with Refinitiv data
  • Provide seamless workflow with the same data across all applications running on the desktop
  • Leverage Eikon data and entitlements to simplify market data management and reporting
  • Tap into the full breadth of community tools through a modern API with native Python support

If you need more support, register for a free account to get full access to the Refinitiv developer community which offers tools and tips for learning how to work with our data, how to be more effective when working with Refinitiv APIs and ask questions, discuss ideas with experts and the greater community. For those who need to use data across a team, or data manipulations that operate on the cloud, see our Elektron Data Platform APIs.

Getting started is easy. Request an API key from the App Key generator and start discovering the powerful combination for analysing data with the Eikon Data API and Python.