The Bloomberg terminal count has risen this year to 325,017, up from 323,981 in early October, reports John Detrixhe of Quartz.
Detrixhe reports, “The financial data terminals are a mainstay for traders at banks, hedge funds, and investment firms, which is why it’s a rough proxy for hiring and firing trends in the industry. The count fell last year for the second time in its history, to 324,485, as banks tried to find ways to save money, according to consultancy Burton-Taylor International.
“Some say the Bloomberg terminal, which is especially popular among bond traders and costs more than $20,000 per year, is the world’s most expensive social network. Its messaging system ties together traders at many of the world’s biggest banks and investment firms. The terminal also distributes financial market data that’s hard to find anywhere else. With revenue of approximately $10 billion, the 36-year-old company has made former New York mayor Mike Bloomberg the eighth-richest person in the world, according to Forbes.
“Greenwich Associates, a research firm, also sees signs that banks are hiring bond traders. While trading revenue has been subdued, Wall Street is betting that shifting monetary policy will help ignite profitable price swings in things like corporate and government debt.”
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