Bloomberg Terminals go down affecting Traders Worldwide

Getty Images

Bloomberg terminals went down in London and affected the traders dealing on the terminal worldwide.

Bloomberg Professional-Bloomberg terminals-are vital to many traders’ day. Each day traders execute trades using the terminal, as well as monitor and analyze real-time financial data.

Currently Bloomberg terminal are at a crisis investigating the cause of an outage this Friday morning. The outage disabled several of the terminal’s 315,000 subscribers worldwide to perform their usual trading performance.

We are currently restoring service to those customers who were affected by today’s network issue and are investigating the cause.— Bloomberg LP (@Bloomberg) April 17, 2015

CNBC was reported to saying that the terminal went out at around 8.20 a.m. London time. Traders from London and Singapore complained about the issue on Twitter saying that it had affected the day’s trading for them.

The terminal was functional by 9.10 a.m. London time and 4.10 a.m. ET but in the trade market where even a minute is crucial, the 50 minute delay affected many a traders. Bloomberg has reported that it is looking into the matter most keenly and is very disturbed that such a thing happened.

Service now restored to most customers following disruption to parts of our network. Making progress bringing the full network back online.— Bloomberg LP (@Bloomberg) April 17, 2015

A treasury auction due to take place on Friday at 5 (London time) was also affected by the terminal outage. A trader at Amplify Trading in London said that the issue had also hit trading liquidity on Friday and accentuated the “risk-off” sentiment seen in several asset markets during the morning session.

While Bloomberg assures its users that the issue is being looked into most seriously, Michael Hewson, chief markets analysts at CMC Markets, commented (via NBCNews) that the outage can seriously affect “trading volumes” which is a cause of frustration due to lack of visibility.