How Much Does a Bloomberg Terminal Subscription Cost?
The Bloomberg terminal, also referred to as the Bloomberg machine, allow investors to access, analyze, crunch, and store data on their favorite corporations while, from the very same monitor, teleconferencing with an associate and monitoring the relationship between the Japanese Yen and the United States dollar. For professional mutual funds, hedge funds, insurance companies, banks, private partnerships as well as other financial institutions, a Bloomberg terminal can be considered an absolute requisite.
How much is it?
- Bloomberg currently charges $24,000 per year or $2,000 per month for a single-terminal subscription for two-year contracts.
- According to Yahoo! Finance, Bloomberg charges $24,000 per year for a single terminal subscription.
What is going to be included?
- The Bloomberg Terminal is a computerized system offered by Bloomberg L.P. The company is controlled by Michael Bloomberg, the mayor of New York City and is currently the market leader, with over 315,000 subscribers.
- The Bloomberg terminal enables professionals in finance and other industries to gain access the Bloomberg Professional Service as a subscription where the users can monitor and analyze real-time financial market information and place trades on the electronic trading platform.
- The terminal covers two asset classes in full, including all company filings, balance sheets, historical data and analyst recommendations. In addition, there are FX rates, portfolio analysis tools, technical analysis tools, huge amounts of news feeds, asset-backed securities, shipping data, energy market data, legal data, trading platforms, order management tools plus there’s the Bloomberg message system.
What are the extra costs?
- Most exchanges charge their own extra fees for access to real-time price feeds across the Bloomberg terminal. The same applies to the various news organizations.
Tips to know
- Most Bloomberg set-ups have between two and six displays.
- Public access Bloomberg terminals are currently very rare since users can access the ‘Bloomberg Anywhere’ service.
- The Bloomberg Terminal is a remarkable system, supported by amazing people, especially if your operation is of considerable scale.
- All the Bloomberg Terminals are leased in 2-year cycles, with leases originally based upon how many screens were connected to each terminal. You can get a free 30-day trial, but this is normally given to genuine prospects.
How can I save money?
- Bloomberg is famously reluctant to offer discounts. It only offers one-level of subscription with access to all the data. However, it does charge a lower price of about $20,000 per year for clients with 2 or more subscriptions, including large corporations and banks that can have multiple terminals.
- IBTimes.com writes about five alternatives you may want to consider.