Baker Research Services Basic Bloomberg API Baker Library refquest@hbs.edu Prepared by: James Zeitler Baker Research Services jzeitler@hbs.edu I expect this presentation to be neither very deep nor very detailed. My intention is to introduce you to the basic processes involved in transferring data from Bloomberg to Excel and, in passing, show you a couple useful tricks in Bloomberg. Fall 2006 Basic Bloomberg API

Agenda Housekeeping Using API Saving results Help Logins Bloomberg terminal Using API From within Bloomberg From within Excel Saving results PFM Webmail Flashdrive Help So here, broadly, is what I expect to cover today. I’ll remind you of the reasons for why we need a special separate Windows login and how you can find out what the Windows username and password are in the Exchange. I’ll remind you as well of the Bloomberg login and tell you how to get your own Bloomberg username and password, if you want. And I’ll talk a little bit about the Bloomberg terminal and keyboard. After those housekeeping issues, I’ll jump into Bloomberg’s API (Application Programming Interface). As we’ll see, you can transfer data to Excel from within Bloomberg and you can get data from Bloomberg from within Excel. We’ll also discuss a couple ways available to you for saving data from Excel. Our license with Bloomberg specifies that data may not be transferred in bulk from the PC on which Bloomberg is itself installed. You can take with you small datasets and charts, tables, and exhibits – the final results of analysis - but the bulk of your analytical work should be done here. I find this an unfortunate restriction, but there it is. It is, in fact, the same sort of restriction you would find in a workplace setting. Finally, and along the way, we’ll talk a little about getting help within Bloomberg. Fall 2006 Basic Bloomberg API

Housekeeping Logins Bloomberg terminal Exchange Login Bloomberg Login http://www.library.hbs.edu/intraonly_cgi/secure/exchange Bloomberg Login By kiosk Personal Press “GO” without entering username/password Bloomberg terminal 4 Windows Blue “Panel” key Keyboard (<Alt-K>) Green “Action” keys Yellow “Market Sector” keys Red “Stop” keys Lilac Panel Currency and Fractions Because this is a public setting and Bloomberg and other applications in the Exchange are limited to HBS users, we have to restrict access to the workstations. The best we’ve come up with so far is to give you access to the Exchange PC Windows logins only through a controlled web site. The site is given here. Notice that you generally can’t get to that site from these computers, but you can use the two kiosks on either side of the door to the Exchange. The Bloomberg login for each machine is given on the placard at each station. By the way, the Bloomberg API is available only on kiosks 2, 5, 6, 7, and 8, and not in the Financial Databases Room. To login to Bloomberg, double-click the Bloomberg icon on the desktop and then press the red Default key. Enter the station-specific username and password. Or, press the green GO key without entering a username and password to set up your own username and password. Note that the generic kiosk accounts are all associated with a colleague in Baker, so you should always give your name, email address, and phone number to Bloomberg people helping you. The Bloomberg terminal has four panels or windows. You can point and click to move between the panels, or press the lilac PANEL key. Bloomberg has a special keyboard... Fall 2006 Basic Bloomberg API

Bloomberg Keyboard We’ve already seen that the DEFAULT key gets you to the Bloomberg login. It will also end your Bloomberg session, so be careful. The red CANCEL key will interrupt a process in Bloomberg. Bloomberg calls the green keys “Action” keys. Press GO (the Enter key) to execute commands. Press MENU to go up a menu tree. (However, you might note that the MENU key won’t necessarily get you to the precious screen you’ve viewed. There may be multiple ways to get to a particular display, but the MENU key takes you back to a higher level in the generic menu tree.) PgUp/PgDn moves you through multi-page displays. The yellow market sector keys identify an entity’s sector. For example, IBM <EQUITY> refers IBM’s stock and IBM <CORP> refers to IBM’s bonds. <GOVT> refers to government debt, <CMDTY> refers to commodities (including futures) markets, <INDEX> to various indices, and so on. This is important as well because Bloomberg will give you access to different analytical tools in different market sectors. The blue (lilac/lavender) keys at the top of the keyboard make it easier to enter currency symbols and fractional amounts Source: Bloomberg Document 2017365 Fall 2006 Basic Bloomberg API

Bloomberg Yellow/Sector Keys GOVT Government (US Treasury and non-US government agency securities) CORP Corporate debt MTGE Mortgages M-MKT Money market, including Commercial Paper, CDs, Bankers’ Acceptances, Medium Term Notes MUNI Municipal Debt PFD Preferred shares EQUITY Equity shares CMDTY Commodity markets INDEX Indices CRNCY Currency markets The yellow market sector keys identify an entity’s sector. For example, IBM <EQUITY> refers IBM’s stock and IBM <CORP> refers to IBM’s bonds. <GOVT> refers to government debt, <CMDTY> refers to commodities (including futures) markets, <INDEX> to various indices, and so on. This is important as well because Bloomberg will give you access to different analytical tools in different market sectors. . Fall 2006 Basic Bloomberg API

Using API: Bloomberg to Excel From Bloomberg terminal to Excel E.g.: IBM <Equity> FA 16 Or: IBM<Equity><GO> 9) Fundamentals and Earnings Analysis 1) Financial Analysis 16) Income Analysis Let’s start by looking at how we can ship data from within Bloomberg to Excel. IBM<EQUITY>FA 16 brings up IBM’s income statement. (How else can we get there?) IBM<EQUITY>/ 9) Fundamentals.../1) Financial Analysis/ 16) Income Analysis Select Excel Download from the Options tab... Fall 2006 Basic Bloomberg API

Bloomberg To Excel (2) From Bloomberg terminal to Excel Options Note: Excel Download Note: Mnemonics Template Change ticker Change currency Bloomberg function calls (cell C8) It may take a couple of minutes, and you may have to click a couple of buttons to start Excel and to update the data, but the income statement should open up in Excel. Notice that it doesn’t come down exactly as you saw it on the Bloomberg terminal. The spreadsheet include labels and mnemonics (e.g.: SALES_REV_TURN). The spreadsheet is, in fact, a template. Change the ticker from IBM Equity to GM Equity and see what happens. Change the currency from USD to JPY. The template has embedded Bloomberg API functions, as in cell C8. It’s a complex set of parameters, and we’ll return to them in a few minutes. Fall 2006 Basic Bloomberg API

Push-Pin Drag and Drop From Bloomberg terminal to Excel WEI Or 4) DOW JONES INDUS.AVG 11) Equity Index Analysis 2) MEMB Index Members Or INDU <INDEX> MEMB Here’s another example of a way to ship data from Bloomberg into Excel. In this case we’ll work with a list of tickers, for example, the constituents of the Dow-Jones Industrial Average. Again, there are multiple ways of getting there... Fall 2006 Basic Bloomberg API

Push-Pin Drag and Drop (2) Notice the push-pin icon in the upper right hand corner of the display. Open an empty Excel spreadsheet. Right-click on the push-pin and drag it into the empty Excel spreadsheet. The list of tickers is copied into the spreadsheet. Left-click and drag Push-Pin to open worksheet Fall 2006 Basic Bloomberg API

Bloomberg API Wizards In Excel Table Wizard Select data items for a list Fundamentals Wizard Standard format reports E.g.: Cash Flow, Income Analysis, Balance Sheet History Wizard Time series data items for one or more entities What can we do with the list in Excel? We’ll use it in the Bloomberg Table Wizard within Excel. This is one of a number of tools in the Bloomberg API Add-In toolbox. We’ll discuss the Table, Fundamentals, and History Wizards here today. I do most with the History Wizard, but that’s just because that’s the sort of work I do most often. Again, I’m not trying to be comprehensive here; I’m trying to get you started and confident that you can go further on your own. Use the Table Wizard to download one or a few data items for a long list of tickers. Use the Fundamentals Wizard to download a formatted report for a single entity. Use the history wizard to download time series of a few data items for a few entities. Fall 2006 Basic Bloomberg API

Table Wizard Field search We already have a list of tickers in our spreadsheet. Drag you mouse so that the list is selected. Then select Bloomberg/Table Wizard. The list is automatically pulled into the entity selection window. Or, we could have entered them one-by-one or searched via the binocular tool. The Field Search screen is next. When you click on the selection box the field is copied to the right-hand window. Again, use the binocular search tool to search for fields containing specific terms. Then format the report. You can choose whether to show tickers and field names, to transpose the sheet, to create separate sheets, et cetera. The resulting sheet should be more or less what you asked for. Again, there are Bloomberg API functions behind the numbers. I find this useful, for example, because I can use the wizard to set up a template and then change tickers and refresh. Fall 2006 Basic Bloomberg API

Fundamentals Wizard Note: Change ticker in B1 BLP…Refresh Fundamentals The Fundamentals Wizard works a bit differently, and you should be sure that you’re logged into Bloomberg in the background. Specify a ticker, template type, currency, periodicity, and so on. The data are written to the spreadsheet, but this is again a template with embedded API formulas and functions. For example, change the ticker or periodicity or date range... Fall 2006 Basic Bloomberg API

History Wizard (1) As I mentioned earlier, I spend more time with the History Wizard than the others. Using the wizard should be second nature to you by now... Fall 2006 Basic Bloomberg API

History Wizard (2) Note periodicity, orientation, currency, and so on. I usually want my spreadsheets to be tall and skinny. And be careful about matching dates, especially with companies from different countries, since trading days will differ. Perhaps you’d want to use all days, not just trading days. Fall 2006 Basic Bloomberg API

Bloomberg API Functions E.g.: BLPH (Bloomberg History) function As we’ve mentioned several times already, the data that come out of the wizards are often based on underlying Bloomberg API functions. For example, you’ll find the BPLH function in the sheets generated by the History Wizard. Each of these types of functions has a different purpose and a different set of parameters. The BLPH function, for example, has something like 16 possible parameters. =BLPH(Security,Field<s>,Start Date,End Date*,Points*,Reverse*,Period*, Non-trading days*,Filler*,Dates*,Rows,Columns,Direction*,Show Price*, Currency*,GPA*) Fall 2006 Basic Bloomberg API

BBXL Use BBXL to get at more detailed information about all aspects of the Bloomberg API. For example, choose 4) Worksheet Functions/Bypassing Wizards to look more deeply into the API functions. Fall 2006 Basic Bloomberg API

Bloomberg Worksheet Functions Fall 2006 Basic Bloomberg API

BLPH Function Here we can get explanations for all of the parameters of the BLPH function, for example. Notice in particular that, as in the sheets created by the wizards, we can often substitute a cell reference for a specific entry. For example, we might read the ticker from cell A1 to get more flexibility. Fall 2006 Basic Bloomberg API

Demo Spreadsheets BBXL DOCS APIEQ or 8) Equity And check in Bloomberg DOCS for text documentation and sample spreadsheets. BBXL 8) Equity or DOCS APIEQ Fall 2006 Basic Bloomberg API

Company Financial Comparisons Here’s a sample spreadsheet from Bloomberg DOCS. Fall 2006 Basic Bloomberg API

Saving Results PFM (Personal File Manager) Webmail Flashdrive Compose Attachments Send Webmail Flashdrive While data are supposed to stay on this machine, you will often want to save reports and results of analyses. I use PFM to send files from within Bloomberg, as illustrated in subsequent slides. But you can also send files if you can get to your mail through a web browser. And there’s a USB port on the back of the keyboard. Fall 2006 Basic Bloomberg API

PFM in Bloomberg PFM<GO> Compose Attachments Drag a file to the Attachments window, close, and send. Fall 2006 Basic Bloomberg API

Help With API BBXL DOCS E.g.: IDOC API We’ve discussed BBXL earlier. You can also search through the DOCS for documents, cheatsheets, and sample spreadsheets. Fall 2006 Basic Bloomberg API

<HELP> <HELP> Fall 2006 Basic Bloomberg API