4/17/15 Bloomberg Terminals Go Down Globally
Bloomberg trading screens in Asia and Europe on Friday morning went dark, with an outage that caused a wave of confusion on social media and some bond deals to be postponed until after the weekend, according to several bankers.
The terminals, which provide real-time financial data but are also the go-to means of communication for hundreds of thousands of traders, investors and bankers globally, failed shortly after the European market open. They later came back up, but individuals all across Europe complained that the service remained patchy.
The terminals cost around $1800 per month per user, according to a client.
The U.K.’s Debt Management announced in a statement Friday morning that it was postponing a scheduled buy-back of government debt ”due to ongoing technical issues with the third party platform supplier,” and that bids already submitted would be declared null and void. A spokesperson confirmed that the supplier is Bloomberg.
“It’s scary how dependent we have become on our Bloomberg screens,” said Anthony Peters, a strategist at London-based capital markets adviser SwissInvest.
“We had [bond] deals which are not going ahead due to this,” one London-based banker said, other bankers said that trading volumes had fallen as a result of the outage.
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http://blogs.wsj.com/moneybeat/2015/04/17/deals-postponed-after-bloomberg-terminals-go-down-in-europe-and-asia/
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