The company that wants to replace the Bloomberg terminal

Catherine Curan of MarketWatch.com writes about Sentieo, the new firm founded by a 35-year-old former hedge fund analyst, which offers a financial data platform similar to Bloomberg’s terminal but for a fraction of the price.

Curan writes, “Sentieo has signed up 85 finance clients, including hedge funds and investment banks.

“They pay $500 to $1,000 a month — far less than the roughly $21,000 annual cost of a Bloomberg terminal.

“Shah claims Sentieo stands out for fast, detailed equity research results that are easily synced across mobile devices.

“Two titans dominate this market: Bloomberg, which racked up $8.9 billion in financial markets revenue last year, and Thomson Reuters, with $6.5 billion in financial markets revenue, according to consultant Burton-Taylor. But small upstarts see an opportunity for user-friendly services at cut-rate prices.

“‘In a mobile world, people want things faster and more easily,’ says Hamza Khan, 29, head of commodities strategy at ING Bank in Amsterdam and a fan of newcomer trading platform Money.net.”

Read more here.