Definition
Bloomberg is a major global provider of financial news and information, including real-time and historic price trends, financials data, trading news, and analysis. Additionally, it offers a media platform and software tools for trading and financial professionals. Named after founder Michael Bloomberg, it’s known primarily for its Bloomberg Terminal, which is a computer software system providing financial data widely used in the global financial services industry.
Phonetic
The phonetics of the keyword “Bloomberg” would be: /ˈbluːmbɜːrg/
Key Takeaways
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- Bloomberg is a leading global provider of financial market data, news, and analytics. It serves professionals in financial services and other industries.
- Bloomberg Terminal, a software system, is arguably Bloomberg’s star product, providing messaging, decision support, trading tools, and price discovery to its beneficiaries.
- Bloomberg News, a division of Bloomberg, is a well-acclaimed source for business and financial news, delivering content across a range of media including television, radio, digital, and print.
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Importance
Bloomberg is significant in the realms of business and finance due to its position as a global leader in delivering financial, data, news, and analytics. The Bloomberg Terminal, an integrated platform that streams together price data, financials, news, trading data, and analytics, is perceived as an essential tool for many financial professionals worldwide. Through its efficacious blend of data, tools for analysis and information, Bloomberg offers facilitated access to real-time and historical information about markets, enabling investors, analysts, and other finance professionals to make informed decisions. Overall, the Bloomberg Terminal’s conveniences have made it integral to global commerce, fostering transparency, efficiency, and a higher level of sophistication in financial markets.
Explanation
Bloomberg is a company that offers a broad array of tools and resources in the field of finance and business. Renowned for its financial data services, Bloomberg is designed to support informed decision-making by providing real-time and accurate global business and financial information. It serves entities ranging from small business enterprises through to multinational conglomerates, as well as individuals in the financial field. The platform is primarily utilized for financial market data analysis, equity trading platform, news, and to access transactional portals.More specifically, Bloomberg Terminal, an integral part of Bloomberg’s services, is a computer software system providing its users with data, analytics, news, and more, directly tied to the financial marketplace. This aids investors, traders, and other finance professionals by offering real-time and historical data, tools for analysis and risk management, order management, and even multimedia services. Various professionals and organizations, such as investment banks, commercial banks, portfolio managers, might use Bloomberg Terminal in company and industry research, executing trades, and monitoring market trends.
Examples
1. Bloomberg L.P.: This is perhaps the most obvious real world example. Bloomberg L.P. is a global financial data and media company headquartered in New York. It was founded by Michael Bloomberg, Thomas Secunda, Duncan MacMillan, and Charles Zegar in 1981. The company primarily provides financial software tools, such as analytics and equity trading platform, data services, and news to financial companies and organizations through its terminals.2. Bloomberg Terminal: Another business/finance-oriented example is the Bloomberg Terminal. It’s a computer software system provided by Bloomberg L.P. that enables finance professionals to access Bloomberg’s professional services. These services include real-time and historical market data, financial news, analyst coverage, trading functions and more. The terminal is considered a market leader in this segment and is widely used by investment professionals.3. Bloomberg News: This is a leading source of important news stories, which provides up-to-the-minute reports on various financial and business happenings all around the world. Bloomberg News was established by Michael Bloomberg in 1990, to provide real-time news and data to the users of Bloomberg Terminal. It has since grown into a popular financial news source providing TV, radio, print, and online content.
Frequently Asked Questions(FAQ)
What is Bloomberg?
Bloomberg is a major global provider of 24-hour financial news and information, including real-time and historic price data, financial data, trading news, and analytics.
Who founded Bloomberg?
Bloomberg L.P. was founded by Michael Bloomberg, Thomas Secunda, Duncan MacMillan, and Charles Zegar in 1981.
What are Bloomberg Terminals?
Bloomberg Terminals are a computer software system provided by Bloomberg L.P. that enables financial professionals to access the Bloomberg Professional service through which users can monitor and analyze real-time financial market data.
What services does Bloomberg offer?
Bloomberg offers a wide range of services including financial software tools, enterprise applications, trading platforms, data services, and news to financial companies and organizations.
How can I access Bloomberg news?
You can access Bloomberg news through various platforms such as television, radio, magazine, and online via their official website and mobile application.
Is Bloomberg reliable?
Yes, Bloomberg is often considered a reliable source of financial information due to its broad coverage of global markets and in-depth analysis.
How much does a Bloomberg Terminal cost?
The cost of a Bloomberg Terminal can vary, but it is often quite expensive with pricing that can exceed $20,000 per user per year.
What is the Bloomberg Global Identifier (BBGID)?
BBGID is a unique 12 digit number assigned by Bloomberg to unambiguously identify securities across global markets and asset classes.
How can I get a job at Bloomberg?
Jobs at Bloomberg can be found on the Bloomberg careers website or through job searching platforms. They offer a variety of positions in areas such as finance, journalism, software development, customer support and more.
Do I need any special training to use a Bloomberg Terminal?
Basic use of Bloomberg Terminal does require some training, due to the depth and breadth of content. However, Bloomberg offers a variety of online and in-person training options at no additional cost.
Related Finance Terms
- Bloomberg Terminal
- Bloomberg Indices
- Bloomberg Businessweek
- Bloomberg News
- Bloomberg Finance LP
Sources for More Information
