Bloomberg

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Bloomberg L.P.
Bloomberglogo.jpg
Founded 1981
Headquarters New York City
Key People Founder Michael Bloomberg, Founder Peter Grauer
Products Provider of financial news and information service.
Website www.bloomberg.com


Bloomberg LP is the world's largest financial news and data company. The company has more than 320,000 subscribers to its financial news and information service. Headquartered in New York City, the company employs more than 15,500 people in over 192 locations worldwide.[1] [2]

In July 2013 Bloomberg received approval from the U.S. Commodity Futures Trading Commission (CFTC) to trade derivatives via a swap execution facility (SEF). The company was the first SEF applicant to win approval from the CFTC. Bloomberg will offer its clients trading access to interest rate swaps, credit default swaps, foreign exchange and commodity derivatives.[3]

In November 2013 Bloomberg SEF traded the first electronic ‘MAC’ (Market Agreed Coupon) swap, with Goldman Sachs as one of the two parties involved.[4]

In July 2014, Bloomberg acquired the market connectivity and trading technology firm RTS Realtime Systems. Financial terms of the deal were not disclosed.[5] Bloomberg said the acquisition would broaden its exchange connectivity through RTS’s global network of data centers.[6]

Bloomberg Professional Service

Founded in 1982, Bloomberg Professional service, also known as the terminal, provides financial data to businesses and financial professionals through a variety of offerings on a subscription basis.

  • Bloomberg EMSX is an electronic, broker-neutral trading platform for institutional traders that connects 2,500+ order routing destinations globally.[7]
  • Bloomberg Fixed Income Trading offers clients access to liquidity supplied by 290+ global providers. Bloomberg FIT launched the ALLQ platform, the first to mix OTC swap trading, which lets subscribers view multi-currency details on credit-default swaps and interest rate swaps as well as dealer liquidity.[8]
  • Bloomberg Indexes combines Bloomberg's data, technology and distribution across media and terminal outlets at no additional cost to subscribers.[10]
  • Bloomberg Intelligence analyzes company-level operations all the way to the macro picture, providing insight on performance, the effects of Washington regulations and profit drivers, among other themes, all collated by experienced Bloomberg analysts and 300+ third-party data contributors.[11]
  • Bloomberg News' staff of 2,400+ produces more than 5,000 stories a day for 150 bureaus in 73 countries.[12]
  • Bloomberg SEF provides a CFTC-registerd swap execution facility for the trade of interest rate, foreign exchange, credit and commodity swaps.[13]
  • Bloomberg Treasury and Risk Management provides one combined solution for all things treasury-related — like cash management, lifecycle management and trade execution.[14]

Products

History

Michael Bloomberg began Bloomberg in 1981 with the goal of creating an information-service, news, and media company to provide business and financial professionals with market tools and data on a single, all-inclusive platform.[15]

In late December of 2010, Bloomberg filed a lawsuit against the European Central Bank (ECB). Bloomberg sought disclosure of documents showing that Greece used derivatives in an effort to hide its fiscal deficit. In turn, Bloomberg stated that this action triggered a sovereign debt crisis. This action followed a 2008 lawsuit by Bloomberg seeking disclosure of the U.S. Federal Reserve's records on emergency lending under the Freedom of Information Act.[16]

In December of 2015 Bloomberg acquired Barclays’ index benchmarking business for about £520m ($781m). The two sides will maintain a co-branding arrangement on the benchmark indices for an initial term of five years. Bloomberg has also bought bond indices and took control of commodity indices formerly owned by UBS.[17]

References

  1. Biography. NYC.gov.
  2. Bloomberg History and Facts. Bloomberg.
  3. US approves Bloomberg derivative platform. The Financial Times.
  4. Bloomberg kicks off electronic MAC swaps trading. The Financial Times.
  5. Bloomberg buys RTS Realtime Systems. Finextra.
  6. Bloomberg Acquires RTS Realtime Systems. Bloomberg LP.
  7. Bloomberg Execution. Bloomberg.
  8. Bloomberg Fixed Income. Bloomberg.
  9. Bloomberg Foreign Exchange. Bloomberg.
  10. Bloomberg Indexes. Bloomberg.
  11. Bloomberg Intelligence. Bloomberg.
  12. Bloomberg History and Facts. Bloomberg.
  13. Bloomberg SEF. Bloomberg.
  14. Bloomberg Treasury and Risk Management. Bloomberg.
  15. About Bloomberg. Bloomberg.
  16. Bloomberg Sues ECB to Force Disclosure of Greece Swaps. Bloomberg.
  17. Bloomberg Buys Barclays' Benchmarking Business. The Financial Times.