Bloomberg stands out from other news and market information services by being an all-in-one solution that gives a broad view of financial markets – but sometimes its usage can be confusing or even frustrating.
An effective way to become familiar with the Bloomberg system is to arrange a visit from one of their representatives or call customer service to request training.
Overview of Bloomberg
Bloomberg provides financial data, trading news, and analysis. Their platform, television, radio, and print offerings are professional analysis tools for business leaders and investors.
Michael Bloomberg had grown his system from a simple bond price data terminal into an innovative multimedia service that rivaled Reuters and Dow Jones in terms of functionality. He created a weekly 15-minute business news show for broadcast on PBS, opened offices in Frankfurt and Hong Kong, and offered services ranging from financial computation to real estate and commodity data.
The University of Manchester boasts several Bloomberg software installations available on campus only. To gain access, current students and staff must possess both JHED authentication and University email accounts; terminals can be identified by their unique keyboards with color-coded keys – one terminal at a time is limited in usage; therefore, it is wise to check building hours before visiting.
Messaging system
Bloomberg’s messaging system is one of its critical assets, and any loss in users could drastically reduce revenue for the company. Instant Bloomberg is widely used within the financial industry as a communication and exchange mechanism.
Bloomberg Instant Messaging (IM) has become an essential element of its business and an indispensable resource for traders from different sectors. Users from bonds, equities, and commodities markets utilize its message-sharing functionality, similar to that found on other instant messaging clients but also include social features like a private “hookup” IM service.
Mark Flatman, global head of core products for Bloomberg L.P., reported that instant messaging usage increased significantly during the pandemic. Bloomberg is rolling out new functions to facilitate workplace collaboration while meeting compliance and regulatory requirements, such as new forums and improved archiving/monitoring of sensitive data. They are also increasing security through multifactor authentication/encryption on cloud systems.
Charting functions
Many users rely on Bloomberg to keep abreast of market movements, news updates, and individual securities analyses. It provides analytical services across significant asset classes equities, fixed-income securities, currencies, and commodities – but can seem overwhelming for new users; luckily, the platform provides some standard screens as starting points.
The 18) Line Chart feature in the everyday functions menu, or short code FA, allows you to search companies by their name and display a basic line graph of that company. From there, you can choose whether it should be adjusted or as reported from the drop-down menu.
“Top News,” known by its shortcode LTOP, provides another proper function. This feature displays what Bloomberg editors consider the most intriguing stories – usually deals and technology related. To view news headlines about specific companies of interest to you, click their names within the chart and read through what appears as pop-up windows in pop-up windows.
Analytics
Starting on Bloomberg can be challenging. Suppose you don’t have anyone familiar with its operation to help guide you. In that case, the best course may be to schedule an appointment at a university business center or contact Bloomberg customer service directly for guidance and assistance.
Once you have your login credentials (username and password), it’s time to begin exploring the system. Numerous functions can help you analyze the market; typically, these can be accessed by typing their respective mnemonic and hitting the “GO” key.
For example, ECO offers economic forecasts and data for various regions worldwide. At the same time, BMAP features a global map with ocean-going cargo ships showing their destinations, plus information about mines, oil derricks, wind farms, etc. Additionally, plenty of analytical functions are dedicated to specific asset classes, such as stocks or currencies, to be explored as well.