Any insider information which came with a Bloomberg terminal would be practically worthless. Every trader would have it.

You're probably confusing the sharing of insider information via the IM feature, which definitely does happen. But blaming Bloomberg for that makes about as much sense as blaming Apple for terrorists using iPhones.

The accusation is that Bloomberg uses data from the people using the terminals to inform their own trades. It popped up a little while back but I can't find the original articles.

Back in 2013 (actually surprised it was that long ago):

http://www.theguardian.com/media/2013/may/10/bloomberg-goldm...

> The Guardian also understands that JP Morgan also has concerns about how Bloomberg used information from its terminals while pursuing stories about Bruno Iksil, the trader known as the London Whale, who was blamed for massive losses at the bank last year. Bloomberg said it had blocked journalists' access to client data within 24 hours of receiving a complaint from Goldman.

Interestingly, Goldman Sachs recently launched its own "Bloomberg Terminal killer", Symphony: http://qz.com/501783/the-goldman-sachs-backed-bloomberg-term...

Funny quote from the QZ article:

> At a cost of more than $20,000 per year per terminal, Bloomberg is an extremely expensive system for users mostly interested in its chat features.

In the early 00's I worked for a company that had a Bloomberg chat killer too.

Everyone is misunderstanding you. You're accusing Bloomberg of using data mined from the usage of the Bloomberg keyboard in order to make more informed trades.

Strange, I don't think my firm's subscription came with that feature.

Oh god, that is some crazy info, is it illegal for them to trade on the terminal data?