Apple's iPad leads mobile shift among financial pros as Bloomberg debuts new app

Posted:
in iPad edited January 2014
Financial professionals are increasingly turning to mobile devices like Apple's iPad to get information on markets, with popular reporting firm Bloomberg saying the number of mobile subscribers for its recently updated app has doubled in the past three years.

Bloomberg
Bloomberg Anywhere, available in the App Store.


The Bloomberg Anywhere app for iPad saw a version update on Monday, bringing a completely revamped user interface tailored to subscriber feedback. Version 2.4 of the app also gives users access to Instant Bloomberg (IB), improved Charts and People sections, and Bloomberg Industries.

Discussing the app in a blog post, Bloomberg Anywhere Mobile chief John Waanders noted that mobile devices are becoming more and more the standard for how financial professionals that depend on Bloomberg are accessing their information. Apple's iPad, in particular, is growing in popularity among Bloomberg subscribers.

"We have seen ? over the past three years ? the number of subscribers accessing our platform on a mobile device double," Waanders wrote, "and more than half access the platform via multiple devices."

A bit over 10 percent of Bloomberg's global 313,000 global subscribers are using the company's iPad app, according to paidContent. Waanders says traders are coming to seek out the "lean back experience" associated with tablet use.

In the past, Bloomberg subscribers accessed the company's real-time information on hardware terminals known as Bloomberg boxes. Now, two-thirds of the firm's customers take advantage of the wider Bloomberg Anywhere service, which allows them to log in to the $20,000/year service through different devices with the help of a portable fingerprint reader.

Comments

  • Reply 1 of 14
    This will be a game-changer, if true. There is no industry that is more dependent on Microsoft-based products for data access than financial services.
  • Reply 2 of 14
    lkrupplkrupp Posts: 7,154member

    Quote:

    Originally Posted by anantksundaram View Post



    This will be a game-changer, if true. There is no industry that is more dependent on Microsoft-based products for data access than financial services.


     


    Oh, I think it's true. The real story here is the whole "post PC" argument and especially its detractors. They are watching their entire universe blow up right before their eyes. The laughing denigration of mobile device as toys incapable of doing real work has come back to slap them in their faces. For all the claims that Apple does not innovate and is behind the times it is they who are, in fact, the luddites when it comes to tablets.

  • Reply 3 of 14

    Quote:

    Originally Posted by lkrupp View Post


     


    Oh, I think it's true. The real story here is the whole "post PC" argument and especially its detractors. They are watching their entire universe blow up right before their eyes. The laughing denigration of mobile device as toys incapable of doing real work has come back to slap them in their faces. For all the claims that Apple does not innovate and is behind the times it is they who are, in fact, the luddites when it comes to tablets.



    More intelligent and comprehensive file management systems, and data analysis tools (e.g., Monte Carlo simulation; basic statistical software) are still needed to ease the workflow, for it to get to a truly "post-PC" world.

  • Reply 4 of 14
    mstonemstone Posts: 11,510member

    Quote:

    Originally Posted by lkrupp View Post


    Oh, I think it's true. The real story here is the whole "post PC" argument and especially its detractors. They are watching their entire universe blow up right before their eyes. The laughing denigration of mobile device as toys incapable of doing real work has come back to slap them in their faces. For all the claims that Apple does not innovate and is behind the times it is they who are, in fact, the luddites when it comes to tablets.



    This iPad app may be useful for a financial planners for an overview of a market or equity from an investment perspective, but Bloomberg clients are mostly reading news and checking quotes, not trading. Traders on the other hand, have for years made use of two and three large monitors at their work station and they are not about to replace that set up with an iPad. I'm not saying that apps like this aren't useful, just that it is more of a casual information consumption device used just like the millions of other iPad owners use theirs, browsing information about whatever interests they may have.

  • Reply 5 of 14


    We at FEUP have Ubuntu with our own repositories installed on every computer (dual boot with windows). It's called "ubuntu feup". They encourage everyone to install it.


     


    The University (UP) even says on their main software page how much they love and support open source and cross platform programs. So, what do we use for statistic-like analysis and problems? Ex-f*cking-cel. What do we use for programing? Visual Studio.


     


    It's just absolutely retarded and disgusting. Instead of training and learn about the next thing, we are studying the past, the dead weight, useless and old paradigms, letting what we truly want disappear, letting our motivation being killed by the symbols of success of the failure that is our education system. A system that trains everyone for the world of 20+ years ago.


     


    That's why I have this sympathy for this multi-billion dollar company that wants to eat my wallet, because they are crazy enough to think that they can change the world, and they are doing it. They don't care about the status-quo, right?


     


     


    Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. But the only thing you can’t do is ignore them. Because they change things. They push the human race forward. While some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do. - Apple Inc


     


     


    If it wasn't for Apple, oh boy...

  • Reply 6 of 14

    Quote:

    Originally Posted by mstone View Post


    This iPad app may be useful for a financial planners for an overview of a market or equity from an investment perspective, but Bloomberg clients are mostly reading news and checking quotes, not trading. Traders on the other hand, have for years made use of two and three large monitors at their work station and they are not about to replace that set up with an iPad. I'm not saying that apps like this aren't useful, just that it is more of a casual information consumption device used just like the millions of other iPad owners use theirs, browsing information about whatever interests they may have.



    Well, you clearly don't work in the world of finance. Financial Planners can't afford $20,000 a year per person subscriptions! You might spend $20,000 a year casually, but then you clearly need a course in finance yourself.

  • Reply 7 of 14
    mstonemstone Posts: 11,510member

    Quote:

    Originally Posted by SwissMac2 View Post




    Well, you clearly don't work in the world of finance. Financial Planners can't afford $20,000 a year per person subscriptions! You might spend $20,000 a year casually, but then you clearly need a course in finance yourself.



    Ok thanks. I would not have known how expensive it was. I looked at the main menu and it looked pretty light on trading functionality and more focused on peripheral information. But perhaps it is worth it for some wealthy investors.


     


    iPhone Screenshot 1

  • Reply 8 of 14
    flaneurflaneur Posts: 4,510member
    We at FEUP have Ubuntu with our own repositories installed on every computer (dual boot with windows). It's called "ubuntu feup". They encourage everyone to install it.

    The University (UP) even says on their main software page how much they love and support open source and cross platform programs. So, what do we use for statistic-like analysis and problems? Ex-f*cking-cel. What do we use for programing? Visual Studio.

    It's just absolutely retarded and disgusting. Instead of training and learn about the next thing, we are studying the past, the dead weight, useless and old paradigms, letting what we truly want disappear, letting our motivation being killed by the symbols of success of the failure that is our education system. A system that trains everyone for the world of 20+ years ago.

    That's why I have this sympathy for this multi-billion dollar company that wants to eat my wallet, because they are crazy enough to think that they can change the world, and they are doing it. They don't care about the status-quo, right?


    <span style="font-family:sans-serif;line-height:19px;">Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. But the only thing you can’t do is ignore them. Because they change things. They push the human race forward. While some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do. - Apple Inc</span>



    <span style="font-family:sans-serif;line-height:19px;">If it wasn't for Apple, oh boy...</span>

    Good post. I'll drink to that, and I don't mean Kool-Aid.
  • Reply 9 of 14
    quadra 610quadra 610 Posts: 6,744member
    Some "toy", eh?
  • Reply 10 of 14
    igrivigriv Posts: 1,177member

    Quote:

    Originally Posted by anantksundaram View Post



    This will be a game-changer, if true. There is no industry that is more dependent on Microsoft-based products for data access than financial services.


     


    Not yet. Bloomberg is designed for large (and multiple) displays, and uses sophisticated interprocess communication (on the PC), so what you get on the iPad is an extremely limited functionality service (better than nothing, of course, but not a replacement for a workstation).

  • Reply 11 of 14
    igrivigriv Posts: 1,177member

    Quote:

    Originally Posted by mstone View Post


    This iPad app may be useful for a financial planners for an overview of a market or equity from an investment perspective, but Bloomberg clients are mostly reading news and checking quotes, not trading. Traders on the other hand, have for years made use of two and three large monitors at their work station and they are not about to replace that set up with an iPad. I'm not saying that apps like this aren't useful, just that it is more of a casual information consumption device used just like the millions of other iPad owners use theirs, browsing information about whatever interests they may have.



     


    Exactly. The iPad app is useful for those trips to starbucks when you want to keep an eye on your portfolio and read the news.

  • Reply 12 of 14
    igrivigriv Posts: 1,177member

    Quote:

    Originally Posted by pedromartins View Post


    We at FEUP have Ubuntu with our own repositories installed on every computer (dual boot with windows). It's called "ubuntu feup". They encourage everyone to install it.


     


    The University (UP) even says on their main software page how much they love and support open source and cross platform programs. So, what do we use for statistic-like analysis and problems? Ex-f*cking-cel. What do we use for programing? Visual Studio.


     


    It's just absolutely retarded and disgusting. Instead of training and learn about the next thing, we are studying the past, the dead weight, useless and old paradigms, letting what we truly want disappear, letting our motivation being killed by the symbols of success of the failure that is our education system. A system that trains everyone for the world of 20+ years ago.


     


    That's why I have this sympathy for this multi-billion dollar company that wants to eat my wallet, because they are crazy enough to think that they can change the world, and they are doing it. They don't care about the status-quo, right?


     


     


    Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. But the only thing you can’t do is ignore them. Because they change things. They push the human race forward. While some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do. - Apple Inc


     


     


    If it wasn't for Apple, oh boy...



     


    Who makes you use Excel and/or VS? Why don't you use R (or platform-agnostic Mathematica or Matlab) and your favorite IDE (mine is emacs, but I digress)?

  • Reply 13 of 14
    igrivigriv Posts: 1,177member

    Quote:

    Originally Posted by SwissMac2 View Post


    Well, you clearly don't work in the world of finance. Financial Planners can't afford $20,000 a year per person subscriptions! You might spend $20,000 a year casually, but then you clearly need a course in finance yourself.



    Actually, the free Bloomberg app for the iDevices is quite nice. As for financial planners, they don't need the functionality of a Bloomberg (which was designed by and for fixed income traders).

  • Reply 14 of 14
    igrivigriv Posts: 1,177member

    Quote:

    Originally Posted by mstone View Post


    Ok thanks. I would not have known how expensive it was. I looked at the main menu and it looked pretty light on trading functionality and more focused on peripheral information. But perhaps it is worth it for some wealthy investors.


     


    iPhone Screenshot 1



    Were you looking at the Bloomberg anywhere for the iPhone or for the free bloomberg app? They are quite similar on the surface.

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