Media Moves

Bloomberg provides customers with chat restriction

December 18, 2013

Posted by Chris Roush

Bloomberg LP is providing terminal clients with tools to monitor and restrict employees’ access to its chat-room functions, after traders’ use of electronic messages drew scrutiny amid government market-manipulation probes.

Justin Baer of The Wall Street Journal writes, “Bloomberg said Tuesday it had created a new function that allows clients’ compliance officers to monitor employees’ use of the terminal’s chat services from a single screen.

“Starting next month, the media-and-information conglomerate said, banks and other customers will be able to limit how employees can access so-called multi-firm chat rooms, in which more than two participants can congregate and swap messages.

“What passes from one firm to another in chat rooms drew a spotlight this year as regulatory probes into alleged interest-rate rigging and currency market manipulations revealed that traders from rival banks may have used the service to share information inappropriately.”

Read more here.

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