Who uses Bloomberg professional?

Chrissy T

Junior member
34 0
Just wondering how many people in Banks/ Funds use Bloomberg for their data feed, analysis, etc. I am a junior prop trader for a fund and have my own CQG but have been trying to get a Bloomie between the desk (3 of us). The company are adammant they will not pay up for it which is really frustrating me because I have used it in the past and the information available is incredible. It would also allow us to get the economic figures as soon as they are released instead of waiting for a newsreader to read them out and get on the back of a move ... I feel that we are at a massive disadvantage without it...

Any thoughts most welcome...
 

zow

Active member
136 0
Even if you don't have bloomberg, surely you have other systems to give you at least the breaking economic news??! That doesn't sound very professional....
A bloomberg is only marginally more expensive per month than CQG.
 

TWI

Senior member
2,527 250
Having had it and not had it I am amazed to conclude you don't need Bloomberg to make money. I do agree however it is a nice luxury.
CQG is a rip-off IMO unless you use the MatLab link which is quite useful but looks like you can get that for TS now also.
If you can save them a load of money by showing something like esignal, which, in my opinion, is just as good maybe they will let you have the Bloomberg terminal. If they are concerned about desk cost esignal will probably be a welcome alternative.
 

Chrissy T

Junior member
34 0
We don't have any source for breaking economic news, except Bloomberg TV - which is always about 2-3 secs late (by which time the market has made a fair amount of its move!) ... its an absolute joke... I was told that "we do not trade like that" ie. trade off the back of numbers... we are supposed to be relative value, but that has not been working the last few months so they have been trying to encourage us to trade outrights sometimes too - but they wont give us the tools or accept any increases in risks.
Not a happy bunny!


zow said:
Even if you don't have bloomberg, surely you have other systems to give you at least the breaking economic news??! That doesn't sound very professional....
A bloomberg is only marginally more expensive per month than CQG.
 

Chrissy T

Junior member
34 0
I agree you do not need to it make money but I believe it does help to make more informed decisions. In addition to breaking economic news, I could do with it for research (as I produce a daily economic analysis for my company) and like to try to follow what is going on elsewhere too (swaps, etc)... we also know a fair amount of brokers (although currently don't really use them) but they would be more than happy to supply us with flows, plus access to their pages on bloomberg...

Overall, I agree its a luxury, but I also think that it would be very beneficial to our team.


QUOTE=twalker]Having had it and not had it I am amazed to conclude you don't need Bloomberg to make money. I do agree however it is a nice luxury.
CQG is a rip-off IMO unless you use the MatLab link which is quite useful but looks like you can get that for TS now also.
If you can save them a load of money by showing something like esignal, which, in my opinion, is just as good maybe they will let you have the Bloomberg terminal. If they are concerned about desk cost esignal will probably be a welcome alternative.[/QUOTE]
 

A Dashing Blade

Experienced member
1,373 170
Chrissy T said:
Just wondering how many people in Banks/ Funds use Bloomberg for their data feed, analysis, etc. ...

In the fixed income world (buy and sell side) BBG (for all it's faults) is still regarded as God.

All the major players that I've worked for use BBG to benchmark their internal analytics and populate their static data databases.

+ BBG email system is very widely used, perhaps because of it's ability to send a non-forwardable email (useful for sending Axe sheets out)

(first post, long time lurker etc)
 

DavieG

Junior member
12 3
Speak to Bloomberg and ask if they can give you a free trial for the Bloomberg Anywhere service, Anywhere means you can login through their website, you may get up to a month trial. Show your bosses the system and the importance of it, see if you can't twist their arms, besides showing them will plant the seed.

Anything that may give you an advantage has to be looked at?!
 

Chrissy T

Junior member
34 0
I think you are correct here. One guy in the office has bloomie (the one who creates a fuss until he gets his own way) and so we are getting a slave off him for breaking economic data in the meantime... better than nothing. However, its not a very professional solution for a company that wants to be professional and take the fund to "the next level"...




GammaJammer said:
Looks like you still need to have a standard Bloomberg Professional account, so can't imagine it'll be any cheaper than just getting a bloomie. Think it's designed for existing users in the main. could be wrong though.

GJ
 

cj12

Established member
597 6
Chrissy T

Dont worry about the news and try to get in before everyone els.Do what I do. if you get good news. the market screams up. with the slippage even with bloom news you still will miss some of the move. do, like myself, sell in to strenth,
.
CJ
 

Airthrey Capital

Well-known member
370 15
Chrissy T.....

I am somewhat amazed that you only have Bloomberg TV to rely on breaking news.

Whilst many on the site have said they regard BB as a luxury, any serious trader / hedge fund manager ought to have Bloomberg or Reuters at the very least.

If you really would like to know a way in which you can get Bloomberg for next to nothing, then pm me as I have a solution for you.
 

bmittal

Junior member
26 1
Hi guys,

I was on a Bloomberg trial for 5 weeks.... it was all going so well.... until my trial ended on thursday (7 July). I was trading WTI crude oil August future on Friday and was long at 61.09. The thing rose to about 61.80. I was like yeah its gonna go past 62.00 because of Hurricane Dennis the menace!

I was back to primitive ways of getting news at this stage. Little did I realize that Dennis was not gonna cause that much of a problem in the Gulf of Mexico as far as oil was concerned. The thing dropped to 59.63 in a matter of minutes (I closed my position at 59.96). I was like damn it.... I lost out for nothing. And it was a double whammy - firstly, i didn't close my long and secondly... and perhaps more importantly, I couldn't get in on the downward movement.

However, at this stage, I can't really afford to spend $1700 plus exchange fees on market data and news! Anybody got any other ideas? I primarily trade forex and oil.

Thanks... :)
 

Dentalfloss

Legendary member
47,510 3,298
try iq feed with quotetracke.you can get live spot forex and live nymex.cost$100 a month for both
 

bmittal

Junior member
26 1
thanks....

but, do you think its good for getting breaking news and economic numbers fast?

thanks again.... :)
 

bmittal

Junior member
26 1
Bloomberg

Thanks a lot for your help, dentist007! I have qiuckly scanned the website, will go thru it in more detail soon. In the meantime, I am on a 2 week trial of Reuters 3000 Xtra. Well, i started on Monday. It doesn't look as good as Bloomberg but it will suffice until I can make my mind up about which one.

I do wish that Bloomberg took monthly payments rather than the three month prepay they do. That would enable me to subscribe now and hence, be better off in the future as I would be making more money. I am a university student at UCL and have just finished my first year doing BSc Economics. As you can imagine, cash is a bit tight! I have been trading since I was 15 but in the past 2 months, I have been doin it a lot due to my summer vacation.

The best thing (I am wishfully thinking!) would be if BB did a students subscription just like The Economist's 69% off the cover price! But, I suppose, the previous sentence will stay that way - 'The best thing would be...' ;)

Kind regards,
Bharat
 

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