![]() ![]() ![]() Technology companies had been working on bringing automation to the stock market for years, with gadgetry such as the Telequote III dating to the late 1960s. What a dual-monitor Bloomberg setup looked like in 1997, as demoed by Mike Bloomberg himself IMS called its product Market Master at first, and the 20 original units went into service at Merrill Lynch at the end of 1982. In 1981, at the age of 39, he took his $10 million severance and started a company called Innovative Market Systems, later to become Bloomberg LP. Michael Bloomberg had been a general partner at investment bank Salomon Brothers, where he was forced into a job heading IT development and then pushed out of the company altogether. The tale of its creation is one of a scrappy little company engaging in technological innovation, but it’s not the classic born-in-a-garage startup story. Yet it’s still recognizable as a descendant of its 1982 progenitor, just as a 2015 MacBook retains the DNA of the 128K model from 1984. It processes 60 billion pieces of information from the market a day. The Bloomberg Terminal of today–which, speaking more precisely, is a service known as Bloomberg Professional–provides more than 325,000 subscribers with everything from an array of information on financial matters to a chat system to the ability to actually execute trades. Bloomberg’s current dual-monitor system and specialized keyboard Good Timing ![]()
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