Categories: OLD Media Moves

Bloomberg provides customers with chat restriction

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.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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