Bloomberg Terminals Suffer Widespread Failures

Re:Bloomberg Terminals Suffer Widespread Failures by anonu on Friday April 17, 2015 @09:23AM (#9394095)

Is this the first crack in the Hoover Dam that is Bloomberg Terminals? Probably not - but the widespread reliance on the $10k+ per year terminal in the financial services industry means that this thing is ripe for disruption. The key isn't to build a terminal replacement though. fintech startups need to chip away at little bits and pieces - and need to inter-operate as much as possible. Only then will the bbg dominance be reined in.

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Re:Bloomberg Terminals Suffer Widespread Failures by hubbins on Friday April 17, 2015 @12:15PM (#9395282)

You can write the software, but where are you going to get the data? There are only a few companies that own it and they're not going to give it away. The data is very costly to collect. That's a lot of the cost of any financial software is data licensing fees.

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Re:Bloomberg Terminals Suffer Widespread Failures by zhte415 on Friday April 17, 2015 @12:56PM (#9395589)

$10k/terminal/year? Absurd. It is a lot more than that.

As another commentator mentioned, chip away. That is how Bloomberg made it as a company. By being better and more sane at fixed income in a very new market.

Find a niche and chip away at that. Data is expensive. Personally, I think making a niche in something coming to becoming mainstream (like R) which is already there in some boutique areas is where it could be.

But don't quote me. I'm still doing COBOL>

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Re:Bloomberg Terminals Suffer Widespread Failures by anmilo on Friday April 17, 2015 @09:37AM (#9394170)

one of the reasons i'm generally Ok with Slack's valuation is that there is a ton of room for a messaging service to offer a service that is secure and auditable at the level that the SEC/FINRA and Banks require. Like the article mentions, if you talk to the people using BBG, it's really the chat functionality that provides the main value for literally everyone, at least in my experience (former front office dev)

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Re:Bloomberg Terminals Suffer Widespread Failures by Karunamon on Friday April 17, 2015 @11:08AM (#9394768)

I'm unfamiliar with these terminals (have kind of always wanted to play with one), but at first blush, a "secure and auditable" messaging system does not seem that difficult to build.

Is it a legitimate compliance or practical implementation problem, or is it just the network effect?

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Re:Bloomberg Terminals Suffer Widespread Failures by easytiger on Friday April 17, 2015 @04:05PM (#9396876)

its also easy to keep it secure when it doesnt use the internet

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Re:Bloomberg Terminals Suffer Widespread Failures by whatok on Friday April 17, 2015 @11:20AM (#9394847)

Network effect.

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Re:Bloomberg Terminals Suffer Widespread Failures by schintan on Friday April 17, 2015 @12:09PM (#9395232)

Its not just the network effect..Bloomberg's messaging system is tightly integrated with the other functionality of the terminal..for example one can execute a trade via a message or get live streaming quotes.

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