Monday, 22 November 2010

Cost Of Bloomberg, Cost Of Reuters Eikon - SICKENING!


I just don't get it. Why can't I as a small asset manager get a discount or a light version of Bloomberg or Reuters!?

Bloomberg: Why do I have to pay USD 1'900 a month, or 1'975 from December for something that I need in such a simple way. (It goes down 20-25% if you buy 2 terminals)

- I want to chat
--> I can download several different instant messengers for nothing. They have all the messaging functions I need.

- I want to trade equities
--> Any broker offers me free software and tools to trade equities.

- Newswires incorporated into application
--> Many brokers offer apps with news in them. Especially the FX plattforms. (It's interesting how strong FX is regarding being at the forefront of technology and margin trading.)

Why am I even considering paying the Reuters USD 2'000 want for their Eikon product?!

I want to use several brokers when trading equities for example
I want to chat with brokers over IM, different sales at different banks (How many banks install regular IM clients on there sales desks?!)

Bloombergs FX is weaker than what my current brokers offers me: My current brokers connects to Currenex liquidity which in turn has over 70 banks plugged in. Try getting credit lines to 70 banks setup via Bloomberg. <-- In this case Bloomberg has a service that is below the "free" service from my broker!

What could remedies be?

1. Brokers allow their traders and sales traders to install regular IM (security issue - so unlikely to happen until that's sorted)
2. Newsfeeds should be provided directly and standalone by companies like Dow Jones...

I think Bloomberg and Reuters are a rip off for a small trader. :( Why don't they give me their software for 500 USD a month. I only need such a small portion of it, that even that is pushing it!


  1. Hey, I actually think Thomson Reuters has multiple products that are cheaper than that. They have messaging capabilities as well. Check out Thomson ONE

  2. Eikon is available in various versions for half the price that you mentioned or maybe less!
    Worth checking a sales guy at Thomson Reuters for Eikon Wealth Manager or Eikon Commodities.
    I beleive also instant messenger comes for free once subscribed.