Move to Dethrone the Wall Street Messaging King?
BlackRock is rolling out its messaging platform hoping it can be the new way to communicate on the Street. The platform is Symphony and it has received $100 million in funding last year. It appears that Goldman uses it the most, but besides that it's not very popular. Financial firms have always looked to cut the $20,000/terminal costs. Could the Symphony be the answer? Of course the information capabilities are not as extensive as with Bloomberg. The way I see it is companies will still need the data from the terminals, and they might as well use Bloomberg Messaging...
To those in the field: Do you think any service, whether Symphony or something else, has a chance to give Bloomberg any competition? Also, if you have used the platform, how have your experiences been?
http://www.wsj.com/articles/blackrock-to-push-wall-street-chat-tool-146…
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