[jshaqaw]

For equities that is true and most Bloomberg functionality can be replicated with Sat Interactive Brokers plus some data subscriptions. Doing fixed income manually without the data pre populated in Bloomberg is very painful. But yes, the chat is where the franchise is and recent SEC actions punishing any non compliant communications like texts or alternative messaging services with massive fines have only given that moat another decade at least of invulnerability.

[xmcqdpt2]

There are other non-Bloomberg compliant chat applications. Symphony is the big one

https://symphony.com/

but also whatsapp and imessage from company-owned devices. The fines were about chat communications from personal devices.

[hackernewds]

I think you're missing the point. it's not the chat application. it's the participants that are in the chat in Bloomberg

[sexy_year]

True

[jshaqaw]

Maybe in theory. The message I get from almost everyone at a regulated institution is Bloomberg, e-mail, or voice. When the SEC is on a warpath, compliance and legal departments don’t play with anything but the clearest black and white lines to optimize for the convenience of staff. It is frustrating because it imposes a monopoly tax on financial market participants to get a Bloomberg or be shut out of information flow which is death in markets. I’ve yet to find anyone I deal with who says hey find me on Symphony.

[xmcqdpt2]

I work at a financial institution and it's symphony for internal communications. I much prefer it to teams tbh.

[jcrben]

What is Sat Interactive Brokers? I've used Interactive Brokers for a long time and never heard of Sat.