Processing Bloomberg® email and chat (instant messaging) data for review is a complex task. Many vendors have attempted it and, based upon feedback from our clients, most of them have problems dealing with the way Bloomberg® exports the data. Typical standard Bloomberg® exports from third party software platforms makes the processing much more difficult and less accurate.
Planet Data has supported the text and XML versions of Bloomberg® email and chat (also called Instant Bloomberg or IB) for the past seven years within our proprietary Exego® platform. Our internal development team created the Planet Data customized Bloomberg® support and we have processed several terabytes of Bloomberg® email and chat data. Planet Data has always processed data in its native application. Lotus Notes is another example of a data format that we process from its native application, thereby enabling a more complete and accurate result than those generated by software that utilizes conversion “short cuts”.
Bob Nelson, Planet Data’s Senior Developer, explains that there are various nuances of dealing with Bloomberg® email and chat data. He describes how we developed support for these data formats to ensure accuracy and ease of use for the client.
• Planet Data properly reconstructs the families and attachments to show the correct correlation of the email to its attachments. This is especially challenging for Bloomberg® data compared to normal email data, like .PSTs, due to the way that Bloomberg® delivers the email attachments upon export. Without this custom development, a reviewer would not be able to view or understand the relationship to the attachments.
• Planet Data captures the “corporate” email address when available, instead of the Bloomberg address. This feature makes it possible to dedupe Bloomberg email against non-Bloomberg email and lets the reviewer see the email address more commonly associated with a custodian.
• Planet Data normalizes the metadata and printed version of the Bloomberg® email to look as much like a normal email as possible, which makes the review much easier.
• Planet Data captures the Bloomberg®-specific metadata not present in other email formats. Examples include the Bloomberg® ID numbers (firm and account) and forwarding information if the email was forwarded. Without this information, the legal team would be missing important metadata in order to make decisions.
• Planet Data captures important metadata and time stamps for all activity in the chat.
• Planet Data captures non-chat activity so the reviewer can see when people were invited, entered, or left the chat room, even if they didn’t add any messages to the chat.
• Planet Data provides the same attachment support as in Bloomberg® email so attachments added to the chat become a family.
These are a few of the highlights as to why Planet Data manages Bloomberg® data successfully within Exego and why clients rely on Planet Data to do it correctly the first time.