Bloomberg Terminal Outage Sparks Talk of Alternatives

New York Times: The web that weaves together much of the global financial ecosystem went down for a few hours on Friday when the Bloomberg data network unexpectedly crashed. The failure at Bloomberg, which provides data and trading services for 325,000 financial professionals around the world, effectively shut down some parts of the capital markets. Bank executives said the failure would force everyone to listen more seriously to potential alternatives. “We recognize that Bloomberg is a monopoly, and we probably lean on them too hard, but it’s a hard nut to crack.”