What are some alternatives to Bloomberg terminals
What is the Bloomberg Terminal and what makes it so powerful?
Bloomberg is one of the world's largest financial news services, and its founder Mike Bloomberg is one of the richest people in the world.
Much of the fortune he acquires comes from the Bloomberg Terminal, the essential computer software for many financial sector companies. If you have a corporate office job, you probably used it yourself.
What exactly does the Bloomberg Terminal do, and what makes it so powerful and valuable to Wall Street professionals?
How the Bloomberg Terminal came about
Before building the Bloomberg Terminal, Mike Bloomberg was a general partner at Salomon Brothers, an investment bank based in New York.
After receiving a $ 10 million severance package in 1981, he invented a system that combined financial data, analytics, compliance, and relevant business and financial information services under a single computer software - the Bloomberg Terminal.
The Bloomberg Terminal officially debuted in 1982 and the rest is history. Today the terminal is used by over 320,000 subscribers around the world. It is estimated that the software itself is responsible for a third of Bloomberg LP's sales. In addition to the PC, the Bloomberg Terminal is also available on smartphones.
Who uses the Bloomberg Terminal?
The Bloomberg Terminal is often referred to as the supercomputer that Wall Street professionals cannot live without. A Bloomberg Terminal subscription costs between $ 20,000 and $ 24,000 per year. However, this does not prevent the customer base from renewing their subscriptions as it is useful.
Traders, brokers, analysts, portfolio managers, investors and executives are the terminal's main consumer base.
If you're a college student taking a course in finance or economics, you've probably also been taught how to manage your basic functions. This is because more and more higher education institutions are subscribing to the terminal so that students can acquire hands-on knowledge of the financial markets.
What does the Bloomberg Terminal look like?
The Bloomberg Terminal has an iconic interface that is easy to spot: an all-black screen and lines and lines of neon text in a font reminiscent of an old-school '90s video game.
The terminal also supplies its own computer for an optimal experience, the so-called Bloomberg 15-inch compact display terminal. With native resolutions of 60 Hz, 32-bit color and 1024 x 768 (XGA) screens, the Compact Display Terminals offer a high-quality display on an ergonomically designed computer stand. In a corporate environment, the terminal typically runs on two and sometimes four to six screens.
In terms of hardware, in order to use the Bloomberg Terminal you need a Bloomberg-native PC keyboard called Starboard which, in addition to your regular QWERTY keys, includes red, blue, green and yellow keys for certain functions.
Bloomberg Terminal functions
Here are some of the most powerful features of the Bloomberg Terminal.
The button HELP is possibly the most useful key for those just starting out. If you have any questions about anything in the terminal, just press the button once and a Bloomberg specialist will be on hand to chat live with you and resolve your questions. Why google it?
If you have an internet connection, you are Bloomberg News definitely not alien. Users can just NEWS type and press enter to press to get the latest information on market trends, movements and other relevant breaking news.
When a Wall Street broker knows the day's biggest news, they want to check out a company's stocks and financial performance that day. No problem: key combinations like BQ , GIP and OMON provide real-time visual charts, data, quotes, trends and forecasts for a stock option or fund.
Would you like to export a visually appealing diagram from the terminal to Excel? The terminal itself is already well integrated into Microsoft Excel. Press easy DAPI on the terminal. Those with an advanced understanding of Terminal Spreadsheets, which are automatically updated with the latest data each time the file is opened. Learn how to create Microsoft Excel self-updating charts.
Those in the industry are talking about Bloomberg messaging , which is basically Facebook Messenger, but on Bloomberg. You can send a message to anyone in the terminal. This means that anyone in the industry can get in touch with technology immediately. No longer do you have to ask for someone else's number or ask about the best way to get in touch.
If you want to find out more about a well-known person in a particular industry want to experience , you can enter PEOP search their credentials.
Bloomberg Map is essentially Google Maps, but more detailed and tailored to the financial industry.
Using geospatial data, the map provides users with a visualization of natural disasters around the world, so resource trackers know the impact of natural disasters on commodities like oil and gold. Enter BMAP to go to the map to access .
The job is done for the day. Let's say our Wall Street broker wants to have dinner at a fancy restaurant. Some would search for good spots on Google or popular restaurant review apps. However, the terminal can do this with DINE achieve that Displays user information and reviews of high-end restaurants nearby.
If our Wall Street broker lot of money wants to spend, but doesn't know what it is for money you can get by simply typing MLUX at the terminal, results on the best luxury items available online.
The Bloomberg Terminal
The Bloomberg Terminal is not just a financial data system. It's also a social networking, shopping, and dining platform. The biggest selling point is that it is an all-in-one service that is delivered with incredible speed and accuracy. No wonder those who use the terminal can't get enough of it.
If you have a chance to access the terminal at school or at work, take full advantage of it and hit the command buttons above to see what pops out.
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