Stock Trading Floor

So, couple years ago, when I was a naïve idiot, I used to run a blog appropriately titled – Wall Street Fool. It was basically a place where I shared my investment ideas, technical analysis, opinions, and humor with the people on The Internet. At that time, I did a post comparing Bloomberg Terminal and Thomson Reuters Eikon – both of which are pretty good Financial Analysis and Trading platforms – which eventually became so popular, it was featured in one of the news articles published on International Business Times and other financial news sites/blogs. Since I shutdown Wall Street Fool in 2014, to focus on my App Development business, the post has since been erased from the Internet Archives .aka. Google Index. So, in light of the recent violent moves in the financial markets, and the constant uncertainty due to the incompetence of clueless Central Bankers, I thought that it would be a good idea to do some Finance centric posts, as opposed to the usual Technology posts.

In the 1st of many Finance centric posts to follow, I would like to take a moment and focus on the two most widely used platforms in the Financial Industry – Bloomberg Terminal (BT) and Thomson Reuters Eikon (TRE).

Without future ado, here’s a quick breakdown of the Pros and Cons of both BT and TRE:

Bloomberg Terminal

Pros

  • THE most popular and widely used platform by participants in the Financial Industry. Period. In my experience, the Bloomberg Terminal is easily the platform of choice with a market share of over 70%. It is used extensively by Financial Analysts, Investment Bankers, Hedge Funds, Traders (Commodities, Fixed Income, Credit, Stocks, Options, etc…), Financial Reporters, etc…
  • The newest version of Bloomberg Terminal is very user friendly, and has a phenomenal and robust search feature, with auto-fill, that allows you to literally find anything and everything that you need to make informed Investment/Business decisions.
  • Hundreds, if not thousands, of charting tools and built-in studies for accurate chart analysis, with the ability to add-on custom studies/algorithms – C, C++, JAVA, Python, etc…
  • Supports many Top Broker-Dealers and Prime Brokers.
  • Gives you instant access to a rare and elite network of professionals – Traders, Investment Bankers, Hedge Fund Managers, Corporate Execs, etc… Many wealth managers and financial advisors use the Bloomberg Terminal to generate quality leads to network and grow their business.
  • Real-Time Market News.

Cons

  • EXPENSIVE AS FUCKKKKK! The last I checked, subscription to the Bloomberg Terminal costs about $2000 per month, per terminal, with a non-negotiable 12 month contract. So basically, unless you have a net worth of at least $1 MM, and really know WTF you’re doing, you should just stay the fuck away from Bloomberg Terminal.

Thomson Reuters Eikon

Pros

  • Can be downloaded and installed on your existing OS – Windows or Mac – without the need for exclusive CPU, Monitors, and other Hardware, that are mandatory if you want to use a Bloomberg Terminal.
  • User friendly, easy to navigate, and overall a decent platform.
  • Cheaper than Bloomberg Terminal. Approx. $1300 per month, per unit.

Cons

  • Not suitable for Traders. The Eikon is specifically designed for Financial Analysts, Investment Bankers, and News Organizations – not so much for the sophisticated Traders and Quants.
  • The Eikon, hands down, has the worst charting tools I’ve ever used in all my years working in Finance. If I could use one word to describe the charting component of Eikon, it would undoubtedly be: ‘SHIT’. You simply cannot perform legit Technical Analysis on the Eikon without losing your damn mind. It’s a HUGE pain in the ass, and I fucking hate that about Eikon.

Conclusion:

If you are a serious Financial Professional, I highly recommend going with the Bloomberg Terminal – Quality over Quantity.

If you are a Financial Analyst or an Investment Banker whose sole job is reading lots and lots of pointless data and financial reports, I recommend going with the Thomson Reuters Eikon.

Posted: March 1, 2016 at 5:06 pm

Bloomberg Terminal .vs. Thomson Reuters Eikon – Which One is Better?