Exactly - and the challenge with that is the data is sometimes only available on BBG. So by not using BBG, you’re missing data, and are at a disadvantage.

This is a data problem, not a software problem. The solution isn’t open source, it’s regulation. I’m an American, so I don’t know much about EU markets, but I’m under the impression they have more mandated transparency in fixed income via ESMA https://www.esma.europa.eu/issuer-disclosure/electronic-repo...

Will that happen? I don’t know. We still use CUSIPs over OpenFIGI, paying for all that S&P licensing, despite a great free alternative. Slow moving industry.