Bloomberg is an American company which produces a financial software, provides data and news, and organizes conferences. It is headquartered in New York City with offices in more than 100 cities across six continents.
Bloomberg L.P., a Delaware corporation, was founded July 8, 1981 by Michael Bloomberg (b. 1942), with the help of Thomas Secunda (b. 1954) and Charles Zegar (b. 1957) . John W. Thompson became CEO in 1996 from founding chairman of the board Michael Bloomberg we had worked on the company’s financial systems since its founding; Thompson was head of Salomon Brothers’ investment banking division when he left to join Bloomberg L.P. in 1992. As of 2017, Thompson is still the CEO of Bloomberg L.P.
The company has a reputation in both the financial and political spheres, with the common slogan “Bloomberg makes you rich”.
Bloomberg’s customers are connected to each other through a distributed system. In providing news and information services, Bloomberg acts as an agent on behalf of its clients; it takes responsibility for transactions and transactions with third parties (such as clearing houses) on their behalf. In addition to news about companies’ operating results, the system provides extensive financial market data as well as an extensive set of analytical tools for investment professionals used by investment managers and mutual funds to manage their portfolios. These software tools (such as Bloomberg Tradebook, Bloomberg Tax, Bloomberg Intelligence and Terminal) allow individuals to track securities and analyse process data. The Bloomberg Professional service provides real-time financial information to large companies by the use of a secure messaging system. Finally, the Bloomberg news agency supplies both a stream of news and quotes on all aspects of the world’s economy.
A number of prominent investment funds, such as BlackRock’s iShares unit and Vanguard Group’s holdings in the company, are among its clients. These are able to access the markets directly from this program without paying for news updates or data feeds from other sources .
The terminal is used by almost 300k professionals globally for for businesses around them .
The first terminal was released in 1981 by Bloomberg. When the company was launched, the terminal cost $100,000. The system tracker combined a number of technologies that already existed: a modified telex machine (which was used for the transmission of news from the Associated Press and United Press International) and software from a market data vendor called Standard & Poor’s Corp. It also included electronic connectors to several stock exchanges, including the Borsa Italiana.
In 1982 Jerry Jordan joined Bloomberg as head of sales and trading and built a sales team available to answer customer questions about its terminals . Jordan is credited for helping create the company’s first mass-market product . In 1992 Thompson became CEO. In 1993, Bloomberg launched a new service for electronic trading called Bloomberg Tradebook. In 1994, Bloomberg L.P. (US) was re-incorporated in Delaware, with a new limited liability company called Bloomberg, L. P., and in 1995 the international division of the company was renamed Bloomberg LP (International).
In 1994, Bloomberg LP (International) started operating in London as a European financial services provider with its own sales and trading capabilities located in Canary Wharf. By 1995, more than half of the corporation’s revenue originated from Europe and the majority of revenue came from sales of its European investment products .
