Wall Street Sees Challengers to the Bloomberg Terminal
September 25, 2015
Few industries rely on timely data quite like Wall Street, and the trading platform that has long been the industry favorite has been enjoying that revenue stream for almost 30 years. However, the New York Times now reports that “The Bloomberg Terminal, a Wall Street Fixture, Faces Upstarts.” Writer Nathaniel Popper notes that funds from the popular terminal enable the company’s news endeavors: BusinessWeek and the Bloomberg Business website, it seems, “cost more than they earn.” Will all that fall away if the Bloomberg terminal loses ground to the competition?
The article relates:
“Bloomberg has sustained several challenges to its dominant market position, fending off smaller competitors hoping to bite off a corner of its business. And it has the cash reservoirs to wage a vigorous defense this time around. But Bloomberg’s own history shows that it is not easy to maintain a profitable market position like the one it has held for more than two decades. Bloomberg rose to prominence in the 1990s by nimbly replacing earlier Wall Street data companies — like Quotron and Telerate — that failed to change quickly enough to protect their longtime market dominance. Morgan Downey, the former Bloomberg executive who is building Money.Net, said he decided to leave Bloomberg in late 2013 and create a low-cost challenger after seeing how slowly Bloomberg was changing and how many of the company’s clients wanted a cheaper alternative.”
Cheaper, it seems, is the key word here. Firms are under pressure to cut costs amid new regulations and shifting markets; they are now eyeing lower-cost alternatives to the Bloomberg terminals, which run about $25,000 per year each. See the article for more on the competition, like Money.Net and chat provider Symphony.
What of Thomson Reuters? According to the article, that company’s terminal sales in the U.S. continue to disappoint, though they have done well in certain niche markets. Their terminals, we’re told, are “not notably cheaper than Bloomberg’s.” Will the upstarts topple both venerable firms?
Popper reports stockbrokers have been complaining about Bloomberg’s terminal pricing and lack of innovative product design. Then again, retired New York City mayor Michael Bloomberg is said to be taking a more active role in the company. Perhaps with his efforts, it will manage to fend off the challengers. For now.
Cynthia Murrell, September 25, 2015
Sponsored by ArnoldIT.com, publisher of the CyberOSINT monograph
Stroz Friedberg Snaps Up Elysium Digital
August 20, 2015
Cybersecurity, investigation, and risk-management firm Stroz Friedberg has a made a new acquisition, we learn from their announcement, “Stroz Friedberg Acquires Technology Litigation Consulting Firm Elysium Digital” (PDF). Though details of the deal are not revealed, the write-up tells us why Elysium Digital is such a welcome addition to the company:
“Founded in 1997, Elysium Digital has worked with law firms, in-house counsel, and government agencies nationally. The firm has provided a broad range of services, including expert testimony, IP litigation consulting, eDiscovery, digital forensics investigations, and security and privacy investigations. Elysium played a role in the key technology/legal issues of its time and established itself as a premier firm providing advice and quality technical analysis in high-stakes legal matters. The firm specialized in deciphering complex technology and effectively communicating findings to clients, witnesses, judges, and juries.
“‘The people of Elysium Digital possess highly sought after technical skills that have allowed them to tackle some of the most complex IP matters in recent history. Bringing this expertise into Stroz Friedberg will allow us to more fully address the needs of our clients around the world, not just in IP litigation and digital forensics, but across our cyber practices as well,’ said Michael Patsalos-Fox, CEO of Stroz Friedberg.”
The workers of Elysium Digital will be moving into Stroz Friedberg’s Boston office, and its co-founders will continue to play an important role, we’re told. Stroz Friedberg expects the acquisition to bolster their capabilities in the areas of digital forensics, intellectual-property litigation consulting, eDiscovery, and data security.
Founded in 2000, Stroz Friedberg says their guiding principle is to “seek truth” for their clients. Headquartered in New York City, the company maintains offices throughout the U.S. as well as in London, Hong Kong, and Zurich.
Cynthia Murrell, August 20, 2015
Sponsored by ArnoldIT.com, publisher of the CyberOSINT monograph
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