It's got itself the nickname "Lateberg" compared to reuters if you're looking to hit economic releases, I use both. It used to be faster but reuters gets better daily whilst Bloomers sits on it laurels. Bloomberg are apparently going to get back to me on about 6 different issues from last year concerning late or inaccurate releases, somehow I don't think I'll be hearing jack, they just say there were technical difficulties with the release and everyone was slow - funny how reuters seem to have far fewer "technical difficulties." Bloomberg changed one release 3 times in as many minutes before getting it right, needless to say the markets were going like a yo yo as a result until bloomberg finally agreed with the reuters print. Still I wouldn't be without it, a lot of people have one or the other, america seem to side with bloomberg and you tend to get a second move when they release what you already know.
It would be interesting if some of BT users would specify exactly which features are contributing to justify the cost. One of the features that I have seen is that news numbers come out few seconds earlier than in most other data providers. But it is only valuable if one purely trades news, whuch is not the best strategy IMHO. I have seen too many wierd reaction to good/bad news. Thanks, redduke
Mostly used for the NI HEADS page and the economic figure release tables at the arcades. In terms of justifying the cost just having ECB highlighted in the news is enough. Or in stock indicies one big profit warning. Like at the end of the ecbs long long pause before hiking and Ecb's Axel Weber comes out of the blue one quiet morning with the first hawkish comment in years - "price risks have increased markedly" you could have put your house on shorting all egbs especially that bobl over that headline before the bank desks even knew what had hit them. This all assumes you day trade, I stick to cqg for charts and other than looking at yield movements or swaps barely use the rest of the terminal's functionality. A decent arcade desk in London will set you back £2500-3000/month (~$4800-5800) incl bloomers, reuters news, cqg, TT etc
Thank you for the example. I think BB has some really good commentary from analysts too, especially for macro perspectives. And as you and some others have said one thing that make it worthwhile for shortterm trades are probably the speed of BB. Also, it probably has one of the more accurate and detailed quotes. Considering the deductions from taxes and how basically a large trader can pay for it with just 1 trade I think the conclusion is that it is worth it, but for large traders.
A very powerful machine that has just about everything. Great analytics for dissecting just about any instrument. Not a machine built for speed necessarily but for covering the universe. That said, the function that probably gets used the most is nothing more than an overpriced instant message service. I shelled out the 5k a quarter because without color and markets from the upstairs boys my business was dead in the water. Now that everyone has an AIM account I'm sure they have lost some customers. I bet 90% of BB users use less than 10% of the functionality. Compete ripoff but until recently they had a monopoly on electronic info. sp