U.S. Stock markets are deep in the red this morning and some blame it on the technology sector.
No, not Apple, Facebook and Yahoo are to blame for the Nasdaq’s 1.5 percent drop but Bloomberg.
Michael Bloomberg, the former New York mayor? Not quite, but it’s his company which supplies hundreds of thousands of finance workers with software to conduct their business.
The software went dark for hours on end in Europe on April 17, causing massive confusion and preventing the UK government from selling 3 billion pounds worth of debt.
Hey traders, what did you do when the lights went out on your @Bloomberg terminal? http://t.co/HkEZZ5z5Mt pic.twitter.com/3zOflNDJGv
— CNNMoney (@CNNMoney) April 17, 2015
You can then extract the information via tables, graphs or download it into excel. This is indispensable when doing research or trading in all kinds of securities. A million of the software’s inbuilt functions help to tweak that data or information into all shapes and forms.
On top, the program has a host of other features which can log trades or measure a portfolio manager’s performance. And yes, let’s not forget about the chat program.
While most equity trades are done electronically, bond and derivative trades still require the communication between buyer and seller. So traders use the inbuilt chat program to communicate about prices and volumes. Once the trade is agreed upon, it can be logged in the system as well.
Bloomberg offers an all in one solution that bankers can’t do without. Good news it is back online.
