Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Bloomberg, the markets data and media service, is facing widespread issues that are preventing finance executives from accessing live pricing and disrupting an auction of UK government debt, according to bankers and investors.
Traders complained that the Bloomberg service was running with significant delays, and some complained about the lack of live pricing that they required to carry out trades.
“We’ve been told not to trade. I can’t remember this level of non-functioning,” said one London-based fund manager.
“Would you bet on a match that you can’t see or know the score,” another said, adding that trading volumes were lower as a result.
Traders said that the instant messaging service — known as IB — was still functioning as normal. Bloomberg did not immediately respond to requests for comment.
The outage disrupted an auction of UK government debt, with the Debt Management Office extending the bidding time.
“We expect the close time of the auction bidding window to be 11.30am, subject to Bloomberg systems issues being resolved,” said the DMO.
The Bloomberg help desk posted a message at 9.55am, which said: “We’re currently experiencing a global terminal issue, and our engineering team is actively working to identify and resolve the problem.
“I sincerely apologize for the inconvenience, and we truly appreciate your patience and understanding in the meantime.”
Read the full article here
