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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