Bloomberg terminals go down globally...

[VTHunter]

Which one of you guys brought this on?

Bloomberg terminals go down globally
http://www.ft.com/cms/s/0/2fc47e84-e4e3-11e4-bb4b-00144feab7de.html

http://on.wsj.com/1E8wqPJ

 

[Hoover]

The bloomberg system is nice, i used it when I worked in the industry. This will cause some issues but not as much as before the internet.

 

[Rider]

The bloomberg system is nice, i used it when I worked in the industry. This will cause some issues but not as much as before the internet.

Fortunately, it was resolved before trading opened today. However, it could have caused massive problems because most trading desks use Bloomberg in some capacity for pricing, trading, confirming, modeling, etc, etc, and if Bloomberg is down, you can't trade.

You are correct that it wouldn't shut down the whole business, but if you are using BPIPE as your firm pricing system, you have no way to price trades.

 

[bigblue]

Guess the boys at Reuters will be getting more traffic.

And total BS on BB being down "you can't trade". Sorry just not true.

Less than 1/3 of trades are done using manual pricing systems. BB is used for research and manual pricing not for real time trading. If that is your only pricing system you are a pretty boutique firm anyways. The big boys have at least two (used to be three) price sources. This also wouldn't affect CBOT or OPERA.

It sucks and it would slow stuff down but it's not going to grind Wall St to a halt. There are provisions for this. After 9/11 we were required to have plans for this kind of thing.