Bloomberg Terminal
Encyclopedia
The Bloomberg Terminal is a computer
Computer
A computer is a programmable machine designed to sequentially and automatically carry out a sequence of arithmetic or logical operations. The particular sequence of operations can be changed readily, allowing the computer to solve more than one kind of problem...

 system provided by Bloomberg L.P.
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...

 that enables financial
FINANCIAL
FINANCIAL is the weekly English-language newspaper with offices in Tbilisi, Georgia and Kiev, Ukraine. Published by Intelligence Group LLC, FINANCIAL is focused on opinion leaders and top business decision-makers; It's about world’s largest companies, investing, careers, and small business. It is...

 professionals to access the Bloomberg Professional service through which users can monitor and analyze real-time financial market data movements and place trades on the electronic trading platform
Electronic trading platform
In finance, an Electronic trading platform is a computer system that can be used to place orders for financial products over a network with a financial intermediary. This includes products such as shares, bonds, currencies, commodities and derivatives with a financial intermediary, such as a...

. The system also provides news, price quotes, and messaging across its proprietary secure network. Most large financial firms have subscriptions to the Bloomberg Professional service. Many exchanges charge their own additional fees for access to real time price feeds across the terminal. The same applies to various news organizations. All Bloomberg Terminals are leased in 2 year cycle, with leases based on how many displays are connected to each terminal. A subscription is around US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

1,500 per month. Most Bloomberg setups have between 2 and 4 displays. There are currently 300,000 Bloomberg Terminal subscribers worldwide.

Architecture

The terminal implements a client-server architecture with the server running on a multiprocessor Unix
Unix
Unix is a multitasking, multi-user computer operating system originally developed in 1969 by a group of AT&T employees at Bell Labs, including Ken Thompson, Dennis Ritchie, Brian Kernighan, Douglas McIlroy, and Joe Ossanna...

 platform. The client, used by the end users to interact with the system, is a Windows
Microsoft Windows
Microsoft Windows is a series of operating systems produced by Microsoft.Microsoft introduced an operating environment named Windows on November 20, 1985 as an add-on to MS-DOS in response to the growing interest in graphical user interfaces . Microsoft Windows came to dominate the world's personal...

 application. End users can also make use of an extra service (Bloomberg Anywhere) that allows Web access to this Windows application via a Citrix client. There is also a Wireless Application Protocol
Wireless Application Protocol
Wireless Application Protocol is a technical standard for accessing information over a mobile wireless network.A WAP browser is a web browser for mobile devices such as mobile phones that uses the protocol.Before the introduction of WAP, mobile service providers had limited opportunities to offer...

 (WAP) portal, and applications that allow mobile access via Android, BlackBerry
BlackBerry
BlackBerry is a line of mobile email and smartphone devices developed and designed by Canadian company Research In Motion since 1999.BlackBerry devices are smartphones, designed to function as personal digital assistants, portable media players, internet browsers, gaming devices, and much more...

, iOS, and Windows Mobile
Windows Mobile
Windows Mobile is a mobile operating system developed by Microsoft that was used in smartphones and Pocket PCs, but by 2011 was rarely supplied on new phones. The last version is "Windows Mobile 6.5.5"; it is superseded by Windows Phone, which does not run Windows Mobile software.Windows Mobile is...

. The server side of the terminal has been developed using mostly the programming language
Programming language
A programming language is an artificial language designed to communicate instructions to a machine, particularly a computer. Programming languages can be used to create programs that control the behavior of a machine and/or to express algorithms precisely....

s Fortran
Fortran
Fortran is a general-purpose, procedural, imperative programming language that is especially suited to numeric computation and scientific computing...

 and C
C (programming language)
C is a general-purpose computer programming language developed between 1969 and 1973 by Dennis Ritchie at the Bell Telephone Laboratories for use with the Unix operating system....

. Recent years have seen a shift in focus toward C++
C++
C++ is a statically typed, free-form, multi-paradigm, compiled, general-purpose programming language. It is regarded as an intermediate-level language, as it comprises a combination of both high-level and low-level language features. It was developed by Bjarne Stroustrup starting in 1979 at Bell...

 and embedded JavaScript
JavaScript
JavaScript is a prototype-based scripting language that is dynamic, weakly typed and has first-class functions. It is a multi-paradigm language, supporting object-oriented, imperative, and functional programming styles....

 on the clients and servers.

Each server machine runs multiple instances of the server process. Using a proprietary form of context-switching, the servers keep track of the state of each end user, allowing consecutive interactions from a single user to be handled by different server processes. The graphical user interface
Graphical user interface
In computing, a graphical user interface is a type of user interface that allows users to interact with electronic devices with images rather than text commands. GUIs can be used in computers, hand-held devices such as MP3 players, portable media players or gaming devices, household appliances and...

 (GUI) code is also proprietary.

Keyboard

In Michael Bloomberg
Michael Bloomberg
Michael Rubens Bloomberg is the current Mayor of New York City. With a net worth of $19.5 billion in 2011, he is also the 12th-richest person in the United States...

's 1997 autobiography, in a chapter titled "Computers for Virgins", he explained how the design of the terminal was slightly different from the standard IBM PC keyboard layout that was popular at that time. The keyboard layout was designed for traders and other market makers who had no prior computer experience. While the look and feel of the Bloomberg keyboard is very similar to the standard computer keyboard, there are several enhancements that help users navigate through the system, from the idea for a user friendly system when originally designed in the early 1980s.

Commands for the keyboard are commonly referred to inside angle brackets. The keys were replaced from the technical name (i.e. F10) and the then standard beige color, opting for a user friendly name and a memorable color, in this example for a lookup on an Index with a yellow key. Another example, the "Esc" for most computer keyboards is referred to as red colored key in the Bloomberg system, with the red to catch one's eye to stop a task. The "Enter" key is referred to as with a green color, deriving from the Monopoly game board, by passing "Go" and collecting $200 in a hope that the user could make money on the information he would find (hence the green key.)

Crucially, the Bloomberg keyboard includes a unique key, which serves a similar function to the "back" button in an internet browser.

The yellow hot keys along the top of the keyboard are used to enter market sectors, and must be used to allow the terminal to correctly identify a security.

  • GOVT - government securities (US treasury and non-US)
  • CORP - corporate debt
  • MTGE - mortgage securities
  • M-Mkt - money market
  • MUNI - municipal debt
  • PFD - preferred shares
  • EQUITY - equity shares
  • COMDTY - commodity markets
  • INDEX - indices
  • CURNCY - currency markets


For example, if someone interested in the Vodafone stock listed in London market, one enters VOD LN where VOD is the company's ticker, and LN is the venue code for London. A detailed option list related to Vodafone UK stock will pop up, the person can then choose different options by pressing related keys or using the mouse to select the option.

Similarly, USDEUR displays the US dollar / Euro exchange rate.

other common Bloomberg commands for Equity:
  • HP - Display the detailed 1 year price of that stock
  • DVD - Dividend / Split Summary of that stock
  • CACS - Corporate Actions related to that stock
  • CN - News feeds related to that stock


Thus, if someone interested in the Vodafone UK stock price, they can in fact directly type in VOD LN HP .

The Bloomberg keyboard is heavier and sturdier than standard keyboards (the current version, SEA100 Bloomberg keyboard weighted aroud 3KG), it also comes with built in speakers for video and multimedia features. The current SEA100 version, as well as the previous version has built-in biometric sensor to ensures the terminal remains to the registered user alone.


Terminal and related products

Originally a self-contained operating system running on custom hardware - commonly referred to as a "Bloomberg Box" - the Bloomberg Terminal now functions as an application within the Windows environment. From a user's perspective, there are essentially 3 distinct levels to the system:

Core Terminal

This is the original system, consisting typically of 2 windows (some larger trading desks have 4), each containing a separate instance of the terminal command line. By entering tickers and functions, data can be displayed and programs run to analyze it. This seemingly large number of windows allows users to call up several entirely different sets of data, and compare it quickly; for those users who have more than one computer display, each terminal window can be assigned independently, creating, in effect, four terminals.

Launchpad

Launchpad is a customizable display consisting of a number of smaller windows, called 'components', each of which dedicated to permanently displaying one set of data. A typical user would be a stockbroker who wishes to keep a list of 30 stocks visible at all times: Launchpad creates a small component which will show these prices constantly, saving the broker from having to check each stock independently in the terminal. It can be toggled on or off by hitting the key. Other functions, such as email inboxes, calculation tools and news tickers can be similarly displayed. The Instant Bloomberg messaging/chat tool is a Launchpad component, as are the chat windows it creates. To launch a normal function from the Bloomberg Terminal's 4 Screens into launchpad type LLP and press enter on the target screen you wish to turn into a launchpad item.

Application programming interface

The application programming interface
Application programming interface
An application programming interface is a source code based specification intended to be used as an interface by software components to communicate with each other...

 (API) allows exporting data from the Terminal to 3rd party applications, such as Microsoft Excel. A user might wish to use Bloomberg data from the terminal to create their own calculations; by exporting the live data into another program, they can build these formulae. Bloomberg supports this through a range of add-ins which are packaged with the terminal software.

Competitors

Leading competitors for electronic financial data provision include Morningstar Direct, Markit, Zacks Investment Research, FactSet Research Systems
FactSet Research Systems
FactSet Research Systems is a financial data and software company headquartered in Norwalk, CT. The company provides financial information and analytic software for investment professionals. For fiscal year 2010, FactSet's annual sales were $641 million....

, Capital IQ
Capital IQ
Standard & Poor's Capital IQ is a provider of information and analytical tools for investment bankers, money managers, and other financial professionals.-Business description:...

, Thomson Reuters
Thomson Reuters
Thomson Reuters Corporation is a provider of information for the world's businesses and professionals and is created by the Thomson Corporation's purchase of Reuters Group on 17 April 2008. Thomson Reuters is headquartered at 3 Times Square, New York City, USA...

, PrivateRaise.com, Advantage Data Inc, Fidessa
Fidessa
Fidessa Group plc is a British-headquartered company which provides software and services such as trading systems to clients in the financial services sector...

 and Dow Jones.

External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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