The Bloomberg terminal, developed by businessman Michael Bloomberg, is a popular hardware and software system that allows investors to access real-time market data, investment analytics and their own trading platforms.
Due to relatively high cost, Bloomberg terminals are commonly used by large institutional investors, portfolio managers and financial analysts.
Bloomberg offers investors independent stock research from over 1,500 sources, charting tools and trade analytics for both buyers and sellers.
Bloomberg’s biggest competitor is Thomson Reuters, which offers Eikon, a suite of software products designed to help investors analyze and trade the financial markets.
Both Bloomberg and Reuters see competition from other companies that offer similar products at a lower price, most notably Capital IQ and FactSet.
When the market is considered to be driven by quotes, the transactions are determined by those who make the markets, not by investors, with dealers and specialists who want to fill orders from their inventory or match them with other orders.