At Bloomberg, the heart of our business is information…the core is technology. In light of Hurricane Sandy, which had an unprecedented and historic impact on the financial markets this week, our Bloomberg Anywhere clients were able to access critical news and data to do their jobs despite Wall Street coming to a sudden halt.
The U.S. stock markets closed on Monday and Tuesday — something that hasn’t occurred for weather-related reasons since 1888 — and stock futures and U.S. bond trading was suspended. The entire U.S. economy was impacted in one form or another, whether it was air travel, shipping or online commerce.
In times like this, people including traders, brokers, portfolio managers and analysts need information in order to keep things moving in the global economy. For us, because of the way we built Bloomberg Anywhere, clients were able to access our infrastructure and perform functions such as TOP <GO> for top, real-time news around the world and WEI <GO> to track the global equity markets. In fact, we found a significant increase in people installing Bloomberg Anywhere on their home or laptop computers, logging in through mobile applications and, in general, using the Bloomberg Professional service.
Bloomberg employees in Asia, Europe, Africa and Latin America worked around the clock to ensure data services continued, information was flowing through our system, and clients were supported, wherever and however they accessed the platform. We also offered free temporary workspaces to those in need. (In the first 24-hours over 100 clients have signed up. This service is still available and will continue to be as long as the need exists.)
Nobody could envision Sandy’s aftermath.
If you are a Bloomberg Anywhere subscriber, please send us an email or give us a call and let us know how we did (and how we are doing). Hopefully we won’t have another situation that so severely impacts our financial markets, but if we do, we want to make sure Bloomberg is there to deliver for you.