Bloomberg Trading Platform Wiki

Bloomberg trading platform wiki

Financial, software, data, and media company based in New York City

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar,[7] and a 30% ownership investment by Merrill Lynch.[8]

Bloomberg L.P.

provides financial software tools and enterprise applications such as analytics and equity trading platform, data services, and news to financial companies and organizations through the Bloomberg Terminal (via its Bloomberg Professional Service), its core revenue-generating product.[9] Bloomberg L.P.

also includes a wire service (Bloomberg News), a global television network (Bloomberg Television), websites, radio stations (Bloomberg Radio), subscription-only newsletters, and two magazines: Bloomberg Businessweek andBloomberg Markets.[10]

The company has 167 locations and nearly 20,000 employees.[11][12]

History[edit]

In 1981, Salomon Brothers was acquired, and Michael Bloomberg, a general partner, was given a $10 million partnership settlement.[13] Bloomberg, having designed in-house computerized financial systems for Salomon, used his $10 million severance cheque to start Innovative Market Systems (IMS).[14] Bloomberg developed and built his own computerized system to provide real-time market data, financial calculations and other financial analytics to Wall Street firms.

In 1983, Merrill Lynch invested $30 million in IMS to help finance the development of "the Bloomberg" terminal computer system and by 1984, IMS was selling machines to all of Merrill Lynch's clients.[14]

In 1986, the company was renamed Bloomberg L.P., and 5,000 terminals had been installed in subscribers' offices.[15] Within a few years, ancillary products including Bloomberg Tradebook (a trading platform), the Bloomberg Messaging Service, and the Bloomberg newswire were launched.

Bloomberg launched its news services division in 1990. Bloomberg.com was first established on September 29, 1993, as a financial portal with information on markets, currency conversion, news and events, and Bloomberg Terminal subscriptions.[16]

In late 1996, Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in the company for $200 million, valuing the company at $2 billion.[17] In 2008, facing losses during the financial crisis, Merrill Lynch agreed to sell its remaining 20 percent stake in the company back to Bloomberg Inc.,[18] majority-owned by Michael Bloomberg,[19] for a reported $4.43 billion, valuing Bloomberg L.P.

at approximately $22.5 billion.[20][21]

Bloomberg L.P.

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has remained a private company since its founding; the majority of which is owned by Michael Bloomberg.[20] To run for the position of Mayor of New York against DemocratMark Green in 2001, Bloomberg gave up his position of CEO and appointed Lex Fenwick as CEO in his stead.[22] in 2012, Peter Grauer became the chairman of the company, a role he still holds.[23] In 2008, Fenwick became the CEO of Bloomberg Ventures, a new venture capital division and Daniel Doctoroff, former deputy mayor in the Bloomberg administration, was named president and CEO, serving until September 2014.[24][25] At that point, it was announced that Michael Bloomberg would be taking the reins of his eponymous market data company from Doctoroff, who was chief executive of Bloomberg for the past six years after his term as deputy mayor.[26]

Corporate culture[edit]

Bloomberg offices offer free food with pantries stocked with everything from fresh fruit and granola bars to potato chips.[27] in June 2019, Bloomberg extended its parental leave policy for primary caregivers from 18 to 26 weeks.[28]

Acquisitions[edit]

Since its founding, Bloomberg L.P.

has made several acquisitions including the radio station WNEW, BusinessWeek magazine, research company New Energy Finance, the Bureau of National Affairs and the financial software company Bloomberg PolarLake.

On July 9, 2014, Bloomberg L.P. acquired RTS Realtime Systems, a global provider of low-latency connectivity and trading support services.[29] On August 13, 2019, Bloomberg acquired RegTek.Solutions in a move to expand its suite of regulatory reporting and data management services.[30]

Bloomberg Radio (Formerly WNEW)[edit]

In 1992, Bloomberg L.P.

purchased New York Radio station WNEW for $13.5 million. The station was converted into an all-news format, known as Bloomberg Radio, and the call letters were changed to WBBR.[31]

Bloomberg Businessweek (Formerly BusinessWeek)[edit]

Bloomberg L.P. bought a weekly business magazine, BusinessWeek, from McGraw-Hill in 2009.

The company acquired the magazine—which was suffering from declining advertising revenue and limited circulation numbers—to attract general business to its media audience composed primarily of terminal subscribers.[32] Following the acquisition, BusinessWeek was renamed Bloomberg Businessweek. In 2018, Joel Weber was named editor of the magazine.[33]

New Energy Finance[edit]

In 2009, Bloomberg L.P.

purchased New Energy Finance, a data company focused on energy investment and carbon markets research based in the United Kingdom.[34] New Energy Finance was created by Michael Liebreich in 2004, to provide news, data and analysis on carbon and clean energy markets. Bloomberg L.P. acquired the company to become an industry resource for information to support low-carbon energy development. It was renamed to Bloomberg New Energy Finance or BNEF for short.

Liebreich continued to lead the company, serving as the chief executive officer[35] until 2014, when he stepped down as CEO but remained involved as Chairman of the Advisory Board.[36]

The company has been renamed BloombergNEF — or BNEF for short. BloombergNEF has expanded its research areas to cover renewable energy, advanced transport, digital industry, innovative materials, sustainability and commodities.[37][38] BNEF provides research, long-term forecasts, analytical tools and global in-depth analysis covering a wide range of energy and related industries.

Analysts covering 6 continents publish more than 700 research reports a year.[39][40]

Bureau of National Affairs (BNA)[edit]

Bloomberg L.P.

Navigation menu

purchased Arlington, Virginia-based Bureau of National Affairs in August 2011, for $990 million to bolster its existing Bloomberg Government and Bloomberg Law services.[41] BNA publishes specialized online and print news and information for professionals in business and government.

The company produces more than 350 news publications in topic areas that include corporate law and business, employee benefits, employment and labor law, environment, health and safety, health care, human resources, intellectual property, litigation, and tax and accounting.[42]

Bloomberg PolarLake[edit]

In May 2012, Bloomberg L.P. acquired Dublin-based software provider PolarLake and launched a new enterprise data management service to help companies acquire, manage and distribute data across their organizations.[43]

Barclays indices business[edit]

On December 16, 2015, it was announced that Barclays had agreed to sell its index business, Barclays Risk Analytics and Index Solutions Ltd (BRAIS), to Bloomberg L.P.

for £520 million, or about $787 million.[44] The company will be renamed Bloomberg Index Services Limited.

Bloomberg sports analysis[edit]

In September 2014, Bloomberg sold its Bloomberg Sports analysis division to the data analysis firm STATS LLC for a fee rumored to be between $15 million and $20 million.[45]

CityLab[edit]

On December 10, 2019, Bloomberg Media announced that it has reached an agreement to acquire CityLab, The Atlantic’s award-winning news site for solutions-based journalism on urban innovation and the future of cities.

This was Bloomberg's first acquisition of an editorial property by the news and financial data company in over a decade.[46]

Products and services[edit]

Bloomberg Professional Service[edit]

In 2011, sales from the Bloomberg Professional Service, also known as the Bloomberg terminal, accounted for more than 85 percent of Bloomberg L.P.'s annual revenue. The financial data vendor's proprietary computer system, starting at $24,000 per user per year,[48] allows subscribers to access the Bloomberg Professional service to monitor and analyze real-time financial data, search financial news, obtain price quotes and send electronic messages through the Bloomberg Messaging Service.

The Terminal covers both public and private markets globally.[49]

Bloomberg News[edit]

Bloomberg News was co-founded by Michael Bloomberg and Matthew Winkler in 1990, to deliver financial news reporting to Bloomberg terminal subscribers. In 2000, Bloomberg News included more than 2,300 editors and reporters in 100 countries.[50] Content produced by Bloomberg News is disseminated through the Bloomberg terminal, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek, Bloomberg Markets and Bloomberg.com.

Since 2015, John Micklethwait has served as editor-in-chief.[51]

Bloomberg Radio[edit]

Main article: Bloomberg Radio

Bloomberg Television[edit]

Bloomberg Television, a service of Bloomberg News, is a 24-hour financial news television network. It was introduced in 1994, as a subscription service transmitted on satellite television provider DirecTV, 13 hours a day, 7 days a week.[52] Soon after, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was being aired to 200 million households.[53]Justin B.

Bloomberg L.P.

Smith serves as CEO of Bloomberg Multimedia Group which includes Bloomberg Radio, Bloomberg Television and online components of Bloomberg's multimedia offerings.[54]

Bloomberg Markets[edit]

Bloomberg Markets is a monthly magazine launched in 1992, that provides in-depth coverage of global financial markets for finance professionals.[55] In 2010, the magazine was redesigned in an effort to update its readership beyond Bloomberg terminal users.[56] Michael Dukmejian has served as the magazine's publisher since 2009.[57]

Bloomberg Pursuits[edit]

Bloomberg Pursuits was a bimonthly luxury magazine distributed exclusively to Bloomberg terminal users and to newsstands.

It ceased publication in 2016. A digital edition and show on Bloomberg Television continue under the same name.[58]

Bloomberg Entity Exchange[edit]

Bloomberg Entity Exchange is a web-based, centralised and secure platform for buy side firms, sell side firms, corporations and insurance firms, banks or brokers to fulfill Know Your Customer (KYC) compliance requirements.

It was launched on May 25, 2016.[59][60]

Bloomberg Government[edit]

Launched in 2011, Bloomberg Government is an online service that provides news and information about politics, along legislative and regulatory coverage.[61][62]

Bloomberg Law[edit]

In 2009, Bloomberg L.P.

introduced Bloomberg Law, a subscription service for real-time legal research.[63] A subscription to the service provides access to law dockets, legal filings, and reports from Bloomberg legal analysts as well as business news and information.[64]

Bloomberg Opinion[edit]

Bloomberg Opinion, formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011.[65] The site provides editorial content from columnists, authors and editors about news issues and is available for free on the company's website.[66]David Shipley, former Op-Ed page editor at The New York Times, serves as Bloomberg Opinion's executive editor.[67]

Bloomberg Tradebook[edit]

Bloomberg Tradebook is an electronic agency brokerage for equity, futures, options and foreign exchange trades.[68] Its "buyside" services include access to trading algorithms, analytics and marketing insights, while its "sellside" services include connection to electronic trading networks and global trading capabilities.[69] Bloomberg Tradebook was founded in 1996, as an affiliate of Bloomberg L.P.[68]

Bloomberg Beta[edit]

Bloomberg Beta is a venture capital firm capitalized by Bloomberg L.P.[70] Founded in 2013, the $75 million fund is focused on investments in areas broadly of interest to Bloomberg L.P., and invests purely for financial return.

It is headquartered in San Francisco.[71]

Bloomberg Innovation Index[edit]

The Bloomberg Innovation Index is an annual ranking of how innovative countries are. It is based on six criteria: research and development, manufacturing, high-tech companies, post-secondary education, research personnel, and patents.[72][73] Bloomberg uses data from the World Bank, the International Monetary Fund, the World Intellectual Property Organization, the United States Patent and Trademark Office, the OECD and UNESCO to compile the ranking.[74]

Open Bloomberg[edit]

Bloomberg has openly licensed its symbology system (Bloomberg Open Symbology, BSYM), and financial data API (Bloomberg Programming API, BLPAPI).[75]

Bloomberg Live[edit]

Bloomberg Live is a series of conferences targeted towards business people.[76]

QuickTake by Bloomberg[edit]

QuickTake (formerly TicToc) is Bloomberg's social media brand.

Originally launched on Twitter, it was expanded to other platforms including Facebook, Instagram, YouTube and is also available on Amazon's Alexa. It will also play at several screens across multiple airports in the United States and Canada. The platform is managed by a team of 70 people, consisting of editors, producers and social media specialists located across three bureaus in New York, London and Hong Kong.[77] In December 2019, TicToc was renamed to QuickTake in order to avoid confusion with the social media platform TikTok.[78]

Bloomberg New Economy Forum[edit]

Bloomberg New Economy Forum is an invitation-only event for business executives, government officials, and academics.[citation needed] The inaugural event was held in 2018 in Singapore.

In 2019, the annual forum will take place in Beijing, China.[79]

The Bloomberg New Economy Forum Community includes leaders from the public and private sectors from around the world.

Bloomberg trading platform wiki

2018 participants represented more than $5.36 trillion in market cap and boasted a roster of over 400 delegates from around the world. Forum advisory board members include former U.S. Secretary of State Dr. Henry A. Kissinger, former U.S. Secretary of the Treasury Hank Paulson, Vice Premier of China Zeng Peiyan, Bill Gates, Mukesh Ambani, Janet Yellen, Ursula Burns, Gary Cohn, Orit Gadiesh, Walter Isaacson, Yoriko Kawaguchi, Martin Lau, Jorge Paulo Lemann, Jean Liu, Strive Masiyiwa, and more.[citation needed] Founding partners of the forum included 3M, ADNOC, Dangote, ExxonMobil, FedEx, HSBC, Hyundai, Mastercard, Microsoft, & Softbank.[80]

Offices[edit]

Locations[edit]

Bloomberg L.P.'s headquarters is located in 731 Lexington Avenue (informally known as Bloomberg Tower) in Midtown Manhattan, New York City.[81] As of 2011[update], Bloomberg L.P.

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occupied 900,000 square feet (84,000 m2) of office space at the base of the tower. The company's New York offices also include 400,000 square feet (37,000 m2) located at 120 Park Avenue.[82] It maintains offices in 167 locations around the world,[4] including Bloomberg London, its European headquarters.[83]

Corporate culture[edit]

The Bloomberg L.P.

offices are non-hierarchical – even executives do not have private offices.[42] All employees sit at identical white desks each topped with a custom-built Bloomberg computer terminal. The office space also includes rows of flat-panel monitors overhead that display news, market data, the weather and Bloomberg customer service statistics.[84]

Leadership[edit]

Bloomberg L.P.'s Management Committee includes Michael Bloomberg, Peter Grauer, and Thomas Secunda.[85]

Litigation[edit]

EEOC v.

Bloomberg L.P.[edit]

In September 2007, the Equal Employment Opportunity Commission (EEOC) filed a class-action lawsuit against Bloomberg L.P. on behalf of more than 80 female employees who argued that Bloomberg L.P.

engaged in discrimination against women who took maternity leave.[86] In August 2011, Judge Loretta A. Preska of the Federal District Court in Manhattan dismissed the charges, writing that the Equal Employment Opportunity Commission did not present sufficient evidence to support their claim.[87]

In September 2013, Preska dismissed an EEOC lawsuit on behalf of 29 pregnant employees of Bloomberg L.P.[88] In addition, she dismissed pregnancy bias claims from five individual plaintiffs, and allowed part of the case from a sixth plaintiff to proceed.[89]

Bloomberg L.P.

v. Board of Governors of the Federal Reserve[edit]

Bloomberg L.P. brought a lawsuit against the Board of Directors of the Federal Reserve System (Bloomberg L.P. v. Board of Governors of the Federal Reserve System) to force the Fed to share details about its lending programs during the U.S. Government bailout in 2008.[90] The records documented Federal Reserve loans issued to financial firms and revealed the identities of the firms, the amounts borrowed and the collateral posted in return.[91] Bloomberg L.P.

won at the trial court level.[92] The Second Circuit Court ruled in favor of Bloomberg L.P. in March 2010, but the case was appealed to the Supreme Court by a group of large U.S. commercial banks in October.

Algorithmic trading

In March 2011, the Supreme Court let stand the Second Circuit Court ruling mandating the release of Fed bailout details.[93]

Bloomberg L.P. v. Bloomberg Ltd[edit]

On October 22, 2008, Bloomberg L.P. applied for a change of name of Bloomberg Ltd, under s.69(1)(b) of the Companies Act 2006. Bloomberg L.P. then amended its name to Bloomberg Finance Three L.P. Bloomberg Ltd was ordered at the Company Names Tribunal on May 11, 2009, to change its name so as to not have a name that would likely interfere, by similarity, with the goodwill of Bloomberg Finance Three L.P.

as well as to pay costs.[94]

See also[edit]

References[edit]

  1. ^"Washington Friday Journal". C-SPAN. April 26, 1996. Retrieved January 20, 2010.
  2. ^MCCRACKEN, HARRY (October 6, 2015). "How the Bloomberg Terminal Made History–And Stays Ever Relevant".

    Fast Company.

    Bloomberg trading platform wiki

    Retrieved April 6, 2017.

  3. ^"The Bloomberg Bunch". CNNMoney. Retrieved December 13, 2011.
  4. ^ abc"About Bloomberg". Bloomberg L.P. Retrieved May 29, 2019.
  5. ^Kelley, Dakin Campbell, Trista. "A leaked memo shows Bloomberg reached $10 billion in annual revenue last year, and some insiders will receive a special bonus". Business Insider.
  6. ^"#10 Michael Bloomberg".

    Forbes. 2018. Retrieved October 17, 2018.

  7. ^"Facebook's Zuckerberg Joins Gates, Buffett in Pledge".

    Bloomberg. December 9, 2010. Retrieved January 3, 2012.

  8. ^"Bloomberg LP History". FundingUniverse. Retrieved July 17, 2010.
  9. ^"What is a Bloomberg Terminal or Bloomberg Machine?". About.com. Retrieved July 17, 2010.
  10. ^"The Bloomberg Juggernaut". American Journalism Review. March 1, 2011. Archived from the original on October 12, 2012.

    Retrieved October 26, 2011.

  11. ^Kelley, Dakin Campbell, Trista. "A leaked memo shows Bloomberg reached $10 billion in annual revenue last year, and some insiders will receive a special bonus". Business Insider.

    Bloomberg Terminal

    Retrieved May 29, 2019.

  12. ^"About Bloomberg". Bloomberg LP. Retrieved May 29, 2019.
  13. ^Whitford, David (May 12, 1997). "Fire in His Belly, Ambition in His Eyes, Michael Bloomberg Could Have Sat on the Millions He Made at Salomon.

    Instead He Built a Media Empire That Gives Wall Streeters Crucial Information in a Flash". CNN Money. Retrieved April 11, 2013.

  14. ^ abMake It New. iUniverse. 2004. ISBN . Retrieved April 11, 2013.
  15. ^"Bloomberg L.P. – Swot Analysis". Datamonitor Company Profiles. Archived from the original on August 1, 2013. Retrieved August 6, 2007.
  16. ^"Decision: Bloomberg L.P.

    v. David Cohen". National Arbitration Forum. Archived from the original on August 1, 2013.

    Retrieved April 11, 2013.

  17. ^https://www.wsj.com/articles/SB850771632890084000
  18. ^"Quarterly Reports on Form 10-Q". Securities and Exchange Commission. August 5, 2008.
  19. ^Lee, Edmund (January 26, 2016). "Mike Bloomberg Is Worth $49 Billion, Much More Than Most People Thought". recode.net.
  20. ^ abde la Merced, Michael J.; Story, Louise (July 17, 2008).

    "Bloomberg Expected to Buy Merrill's Stake in His Firm". The New York Times. Retrieved October 26, 2011.

  21. ^"Merrill posts $4.9 billion loss, sells Bloomberg stake". Reuters. July 18, 2008. Retrieved October 26, 2011.
  22. ^"Leadership – Lex Fenwick". Dow Jones.

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    Archived from the original on December 2, 2013. Retrieved April 11, 2013.

  23. ^"Chairman – Chairman of Bloomberg L.P." Bloomberg L.P.

    Bloomberg trading platform wiki

    Retrieved April 11, 2013.

  24. ^Stelter, Brian (July 12, 2011). "Doctoroff Named Chief Executive of Bloomberg L.P."The New York Times.

    Retrieved December 20, 2011.

  25. ^Sorkin, Andrew Ross (September 3, 2014). "Michael Bloomberg to Return to Lead Bloomberg L.P."The New York Times. ISSN 0362-4331. Retrieved November 7, 2019.
  26. ^"Bloomberg to take helm at data group". Financial Times.

    Retrieved September 4, 2014.

  27. ^hermesauto (November 10, 2015). "Why having free snacks at the office is good for productivity". The Straits Times.

    Retrieved November 7, 2019.

  28. ^"Bloomberg extends primary caregiver paid leave to 26 weeks". HR Dive.

    Introduction to the Bloomberg Terminal

    Retrieved November 7, 2019.

  29. ^"Bloomberg Acquires RTS Realtime Systems". Bloomberg Now. Retrieved July 9, 2014.
  30. ^"Bloomberg acquires RegTek.Solutions to expand reporting hub - The TRADE".

    Forex trader system with bonus

    www.thetradenews.com