Pretty general topic but I just wanted to get everyone's opinion..How important is the Bloomberg Terminal for getting your job done? Can you function without it?
Thanks guys
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no if you are trading.
You can't live without it if you are in S&T, but bankers rarely use it. In fact I think one banker told me they have a token Bloomberg in the corner of the room just in case anyone needed it.
Most of the buy/sell orders "and talking" to clinets is done through chat, although traders still pick up the phone a lot.
Is it possible? Sure. But it makes everything so much more convenient.
thanks for the responses guys
im just doing some research about the terminal as a whole and how efficient and important it is to wall streeters
I will echo that it is essential for most S&T guys, but I don't think it is as non essential in banking as everyone says. I used it a lot at the buy side shop I interned at and I know a bunch of bankers that have a couple terminals at their shop and some have them on their desk. I think it is nice to know, but a lot of your information will be coming from data rooms and stuff like that.
@TNA: Have you started your new gig yet? Are you on Bloomberg?
Not really used in BB IBD. I think they tend to rely on Factset more? Absolutely critical for traders though. Can't imagine life without it. You'd have to get all price levels/color/info over the phone.
No
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varies by what you do...banking don't really need one. FX, and Fixed income trading you absoloutely need one, but commodities you really don't.
You must have one in S&T.
I interned on a market making desk that mostly used Reuters. In the bond market though I don't see how you could function without Bloomberg.
Glad to see someone used Reuters as well, but in my case, I used it for FX.
I use one everyday. Needed for index info, currency movements, and almost everything else involving pricing and performance. I have 3 BB Terminals in my office and they are being used about 80% of the day.
@CZtrader: Your profile says you trade equities. But it sounds like from your post that you trade fx. Are you an fx trader? I trade bonds, so I use Bloomberg daily.
@TraderDaily: I am in CEF's (Closed-End Funds), so it involves several asset classes. Things like Equities, Fixed Income and other Alternatives within the space. Not meaning to mislead, just that CEF's are not all that well known on here.
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