II calls Bloomberg's Technology Infrastructure Second to None
Bloomberg LP and co-founder Tom Secunda are ranked number one in Institutional Investor's Tech 50, a listing of the top leaders and innovators in financial technology, according to results announced today.
Institutional Investor (II) said Bloomberg, over the past 30 years, "has continuously scaled up technology development to match ever-increasing customer demand for market news and data, analytics and transaction services." When faced with specialized client needs and no existing technology available in the marketplace, Bloomberg has invented its own. Today, II said, the underlying technology infrastructure for the Bloomberg Professional service (Bloomberg Terminal) is "second to none." The service has more than 310,000 subscribers, "a number that only begins to measure the growth, scope and impact of one of the premier data and communications platforms serving the financial world," II added.
Bloomberg and Secunda won the top spot for a long history of innovation and large-scale moves developed by its 3,000 technologists over the past year, including: Bloomberg NEXT, a multiyear effort to improve work flow and discoverability on the Bloomberg Professional service; the launch of Bloomberg Industries research platform, with contributions from 100 research professionals; and the acquisition of PolarLake, a provider of enterprise data management technology.
The article recognizes Bloomberg for providing low latency data feeds and enterprise solutions to its global customer base. "The same way that Bloomberg automated a lot of the activities in the front office, we think we can do that in the enterprise," Secunda says in the article. "We should be able to produce something for the industry and sell it at a fraction of what it would cost one firm to build."
The Tech 50 listing has been conducted annually since 2000 by II magazine, a leading global financial publication, to rank those who lead the financial services industry in technological achievement and innovation. II's editors and staff, with nominations and input from industry participants and experts, determine the rankings in four key areas: career achievements and contributions, scope and complexity of responsibilities, influence and leadership inside and outside one's organization, and pure technological innovation.