What is the Bloomberg Terminal?

A Bloomberg terminal is a computer system through which investors can access real-time financial data, messages, news, and analytics that help them make profitable decisions in financial transactions. Bloomberg terminal offers access to professional service and the Bloomberg database with which investors and professionals can monitor real-time market data and adequately place their trades using the electronic platform. A Bloomberg terminal is also called a Bloomberg machine. Investors and professionals are charged a monthly fee before they gain access to the computerized system.

How Does the Bloomberg Terminal Work?

The Bloomberg data service is a reputable platform where investors and professionals who need real-time data, analytics, news feeds, and messages can have access to them. A Bloomberg terminal is a product offered by Bloomberg L.P. which is widely used in the financial marketplace, this terminal is popular for its black interface. Given that Bloomberg Terminal charges a high fee for investors to use it, individuals investors rarely use it, it is a typical product for institutional investors. Access to real-time market information is important for portfolio managers as this informs how they place trades in the financial market. The data, news, analytics and real-time data offered by the Bloomberg terminal can be accessed online or through the mobile devices of users.

Bloomberg Terminal Competitors

Aside from Bloomberg L.P, there are other companies that have product offerings similar to the Bloomberg terminal. The major competitor of Bloomberg L.P is Thomson Reuters whose product is named Reuters 3000 Xtra system. This system was however changed to the Eikon platform in 2010. Aside from these two companies, there has been an emergence of big data companies, analytics and machine learning platforms that made competition in the financial space tougher.