Competition in the financial information space is heating up after Bloomberg drastically reduced the pricing of its messaging tool subscription. The move is a direct result of rival, Symphony’s creeping competition in the area, which had been making inroads with its own workflow platform and network.
The company will release a separate chat service for only $ 10 a month, which is twice as low as the price for Symphony's competitor's services, and against the $ 3,000 Pro Terminal subscription per month. The new product is a continuation of Bloomberg's latest innovation since 2017 - Enterprice IB, which allows communication between pro-traders and big names from business. However, the news of an individual chat can be a serious game-changer for the financial markets.
By extension, Bloomberg’s terminal membership numbered 324,485 subscribers last year of which 320,000 are one of the most influential names in the financial markets.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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